Mr. Tim Fernback reports

GOLDEN VIRTUE CLOSES BROKERED PRIVATE PLACEMENT OFFERING

Golden Virtue Resources Inc. has completed the brokered private placement of subscription receipts of the company with a syndicate of agents led by Mackie Research Capital Corp. and including Paradigm Capital Inc., Beacon Securities Ltd., Jordan Capital Markets Inc., PowerOne Capital Markets Ltd. and First Republic Capital Corp.

Pursuant to the offering, the company received gross proceeds of $3,106,400, representing the issuance of 15,532,000 subscription receipts. The subscription receipts will convert into units of the company without payment of any additional consideration, and with no further action required by the subscribers, upon the satisfaction of certain escrow release conditions, including closing of the previously announced reverse takeover transaction with MobSafety Inc. Each unit will consist of one common share of the company and one-half of one common share purchase warrant, with each warrant entitling the holder thereof to purchase one share at an exercise price of 35 cents per share at any time up to 24 months following the escrow release date.

In connection with the offering, the agents received an aggregate cash commission of $155,320 and an advisory fee of $97,851.60. The company also issued to the agents 1,242,560 non-transferable compensation options. Each agent's option is exercisable for a period of 24 months from the escrow release date to acquire units of the company at a price of 20 cents per agent's unit. Each agent's unit consists of one common share and one-half of one common share purchase warrant, with each agent's warrant entitling the holder to acquire one additional share of the company at a price of 35 cents. In addition, the company paid a corporate finance fee of $25,000 (plus GST), syndicate fees of $17,520.10 and the agent's reasonable expenses in connection with the offering.

The company intends to use the proceeds of the offering to finance the costs of the transaction and to finance the general working capital expenses of the resulting issuer. All securities issued in connection with the offering are subject to a four-month hold period expiring July 27, 2015.

Trading of the company's shares will remain halted until completion of the transaction. It is currently anticipated that the transaction will close on March 27, 2015.

We seek Safe Harbor.