GlobeNewswire by notified

Fobi Announces the Closing of its Acquisition of PassWallet Assets from Quicket GmbH, and an Increase of 1.28m Downloads Since First Reported on Oct. 7, 2021

Share

VANCOUVER, British Columbia, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Fobi AI Inc. (FOBI:TSXV FOBIF:OTCQB) (the “Company” or “Fobi”) is pleased to announce that further to its press release dated October 7, 2021, the Company has completed its acquisition of the PassWallet application and related assets (the "Acquired Assets") from Quicket GmbH (the "Vendor").

SIGNIFICANT INCREASE IN PASSWALLET DOWNLOADS SINCE LAST REPORT

Since the last report on October 7th, there has been a significant increase in downloads of the PassWallet app from 6 million to 7.28m downloads, an increase of over 1 million downloads. The countries that saw the biggest increases in downloads were in Europe, with Spain, Germany, UK, Romania and Bulgaria all seeing large increases.

Fobi CEO Rob Anson stated: “The landscape is shifting to contactless, cashless and mobile first operations and as a result we are witnessing accelerated growth in the mobile wallet pass sector due to the digital transformation that is ongoing. The mobile wallet provides a convenient, secure way to streamline operations and deliver enhanced levels of personalized engagement directly to users, and even to their mobile phone’s lock screen. As a result, the dynamic functionality of the wallet is transforming our daily lives, and we are very optimistic as to continued growth in both downloads and monthly users.”

Due to the increased demand for contactless and cashless transactions, the mobile wallet market is expanding rapidly. A recent Imarc report forecasts the Mobile Wallet market will grow at a compound annual growth rate (CAGR) of 20% from 2021-2026.

TERMS OF THE TRANSACTION

In consideration for the Acquired Assets, Fobi paid an aggregate of €888,000 to the Vendor consisting of: (i) €355,200 paid in cash; (ii) 301,480 common shares of Fobi (each a “FobiShare”) at a deemed price per Fobi Share of C$2.63660 (€532,800 converted into Canadian funds using the Bank of Canada monthly exchange rate for the calendar month of October 2021 by the 10 trading day volume weighted average price of the Fobi Shares on the TSX Venture Exchange (the “TSXV”) for the period ended 10 TSXV trading days prior to the date of closing of the Transaction). Fobi Shares issued in connection with the Transaction are subject to a restricted period of four months and one day from the date of issuance.

This Press Release Is Available on the Fobi Website, as well as the FOBI Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement.

About PassWallet

PassWallet is the first app specializing in enabling Android users to store, organize and update Wallet passes, in the most simple and intuitive way. PassWallet can service all type of passes imaginable: boarding passes, transport cards, passes to the movies, theatres, concerts, museums, festivals, theme parks or stadiums, loyalty cards, vouchers and discount coupons in many stores, hotels and car reservations and more.

About Fobi

Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi’s unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.

For more information, please contact:

Fobi AI Inc.Fobi Website: www.fobi.ai
Rob Anson, CEOFacebook: @ Fobiinc
T : +1 877-754-5336 Ext. 3Twitter: @ Fobi_inc
E: ir@fobi.aiLinkedIn: @ Fobiinc

This news release contains certain statements that constitute forward-looking statements or information, including statements regarding Fobi's business and technology; the ability of Fobi to engage with industry participants to achieve its goals; the development of Fobi's technology; and the viability of Fobi's business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Fobi's control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although Fobi believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity, or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Fobi does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Fobi should be considered highly speculative. There can be no assurance that Fobi will be able to achieve all or any of its proposed objectives.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Galapagos increases share capital through subscription right exercises3.12.2021 22:01:00 CET | Press release

Mechelen, Belgium; 3 December 2021, 22.01 CET; regulated information – Galapagos NV (Euronext & NASDAQ: GLPG) announces a share capital increase arising from subscription right exercises. Galapagos issued 22,600 new ordinary shares on 3 December 2021, for a total capital increase (including issuance premium) of €578,700.00. Pursuant to the subscription right exercise program of Galapagos’ management board, members of the management board automatically are committed to exercise a minimum number of subscription rights, subject to certain conditions. In accordance with the rules of this program, one management board member exercised 5,000 subscription rights. In accordance with Belgian transparency legislation1, Galapagos notes that its total share capital currently amounts to €354,582,005.11, the total number of securities conferring voting rights amounts to 65,552,721, which is also the total number of voting rights (the “denominator”), and all securities conferring voting rights and al

Sampo plc’s share buybacks 03/12/20213.12.2021 21:30:00 CET | Press release

SAMPO PLC STOCK EXCHANGE RELEASE 03/12/2021 at 10:30 pm Sampo plc’s share buybacks 03/12/2021 On 03/12/2021 Sampo plc (business code 0142213-3, LEI 743700UF3RL386WIDA22) has acquired its own A shares (ISIN code FI0009003305) as follows: Sampo plc’s share buybacksAggregated daily volume (in number of shares)Daily weighted average price of the purchased shares*Market (MIC Code)23,68743.29AQEU27,42643.28CEUX4,32043.37TQEX72,59243.31XHELTOTAL128,02543.30 *rounded to two decimals On 1 October 2021, Sampo announced a share buyback programme of up to a maximum of EUR 750 million in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052. The programme, which started on 4 October 2021, is based on the authorization granted by Sampo's Annual General Meeting on 19 May 2021. After the disclosed transactions, the company owns in total 6,263,553 Sampo A shares representing 1.13 per cent of the total number of shares in Sampo plc. Detail

Projekt Öyfjellet försenat – beräknas färdigställas under första kvartalet 20223.12.2021 21:15:00 CET | Pressemelding

Hässleholm den 3 december 2021 I delårsrapporten för det tredje kvartalet, som offentliggjordes den 18 november 2021, kommunicerade Eolus att det finns risk för försening i färdigställandet av det norska 400 MW projektet Öyfjellet. Baserat på uppdaterad information om byggprocessen beräknar Eolus nu att vindparken färdigställs under det första kvartalet 2022. Per idag, den 3 december 2021, har samtliga 72 turbiner färdigmonterats. 34 turbiner har börjat generera el. Huvudskälen till förseningen är utmanande väderförhållanden, vilket har påverkat installationsarbetet, samt Covid-19 relaterade orsaker som begränsat både resemöjligheterna för personal och lett till leveransförseningar avseende komponenter. Förseningen kommer att ha en negativ påverkan på Eolus projektmarginal. För ytterligare information kontakta: Per Witalisson, VD, telefon +46 (0)70-265 16 15 Johan Hammarqvist, kommunikationschef, telefon +46 (0)720-50 59 11 Kort om Eolus Eolus Vind är en av Nordens ledande projektörer

Project Øyfjellet delayed - new estimated completion in the first quarter of 20223.12.2021 21:15:00 CET | Press release

Hässleholm, Sweden, December 3rd, 2021 In the interim report for the third quarter, released on November 18, 2021, Eolus communicated a risk of delay in the completion of the 400 MW Norwegian wind project Øyfjellet. Based on updated information of the construction progress, Eolus now estimates that the wind farm will be completed during the first quarter of 2022. As of today, December 3, 2021, construction of all 72 turbines have been completed. First electricity production has been achieved by 34 turbines. The main reasons for the delay are challenging weather conditions which has effected the progress of the installations and Covid-19 related issues which has restricted both travel possibilities for personnel and led to delays in delivery of components. The delay is expected to have a negative impact on Eolus’ profit margin for the construction of the project. For further information contact: Per Witalisson, CEO, +46 70-265 16 15 Johan Hammarqvist, Head of Communications, +46 720 50

ING reports outcome of 2021 EU-wide Transparency Exercise and Risk Assessment Report3.12.2021 18:12:26 CET | Press release

ING reports outcome of 2021 EU-wide Transparency Exercise and Risk Assessment Report ING notes the announcements made today by the European Banking Authority (EBA) and the European Central Bank (ECB) regarding the information of the 2021 EU-wide Transparency Exercise and Risk Assessment Report. Background EU‐wide Transparency Exercise The EBA Board of Supervisors approved the package for the EU‐wide Transparency Exercise, which since 2016 is performed on an annual basis and published along with the Risk Assessment Report (RAR). The annual transparency exercise is based solely on regulatory reporting data (COREP/FINREP) on the form and scope to assure a sufficient and appropriate level of information to market participants. The templates were centrally filled in by the EBA and sent afterwards for verification by banks and supervisors. The outcome of the exercise related to ING Group can be found in the annexes on the EBA website. Note for editors For further information on ING, please v

KBC Group: KBC report on the 2021 EBA Transparency Exercise3.12.2021 18:10:00 CET | Press release

Press Release Outside trading hours - Regulated information* Brussels, 3 December 2021 – after trading hours KBC report on the 2021 EBA Transparency Exercise KBC notes the announcements made today by the European Banking Authority (EBA) and the European Central Bank (ECB) regarding the publication of the EU-wide Transparency Exercise. The information of this 2021 EU-wide Transparency Exercise refers to the reported data as of 30 September 2020, 31 December 2020, 31 March 2021 and 30 June 2021. The templates, published on a bank-by-bank basis, are the following: Key MetricsLeverage ratioCapitalRisk exposure amountsP&LTotal Assets: fair value and impairment distributionLiabilitiesMarket RiskCredit RiskGeneral governments exposuresPerforming and Non-Performing ExposuresForborne ExposuresLoans and advances to non-financial corporationsCovid-19 The data collection relies on the standard information reported by the banks to the EBA on a regular basis through the supervisory reporting framewo

Changes in the Board of Directors3.12.2021 17:40:00 CET | Press release

Basel, 3 December 2021 - Roche (SIX: RO, ROG; OTCQX: RHHBY) today announced that at its December meeting the Board of Directors of Roche Holding Ltd has approved first proposals to the Annual General Meeting (AGM) scheduled for 15 March 2022. Mr Paul Bulcke, who has been serving on the Board of Directors since 2011, has decided not to stand for re-election at the AGM in 2022, following almost eleven years of tenure. The Board of Directors proposes Dr Jemilah Mahmood, currently the Special Advisor on Public Health to Malaysia’s prime minister, for election to the Board of Directors at the AGM 2022. “As a member of the Board and of the Audit Committee, Paul Bulcke has made significant contributions to Roche’s success,” said Roche Chairman Christoph Franz. “On behalf of the Board of Directors, I would like to extend our sincere thanks to Paul Bulcke who gave great support to Roche with his enormous leadership experience and his strong entrepreneurial thinking.” Christoph Franz added: “I a