GlobeNewswire by notified

Fobi Corporate Update Includes New Revenue Deals, Key Product Launches, New Verticals, Continued Partner Integrations And Further M&A Success And Activity

Share

VANCOUVER, British Columbia, Oct. 19, 2021 (GLOBE NEWSWIRE) -- FOBI AI Inc. (TSXV: FOBI) (OTCQB: FOBIF:) (the "Company" or "FOBI"), a leader in providing real-time data analytics through artificial intelligence to drive customer activation and engagement is pleased to provide shareholders with the following corporate update regarding the following significant company initiatives.

COMPANY OPERATING FROM A POSITION OF STRENGTH AS A RESULT OF STRONGEST BALANCE SHEET TO DATE 

With the increased number of revenue announcements this past quarter, increased volumes and execution on key strategic acquisitions the company has experienced an increase in inquiries from new retail investors and especially from larger institutions. The momentum in revenue deals has increased with entry into new verticals such as Azincourt, Kiaro and Empower this past quarter.  In addition, the company has benefited this past quarter from further warrant and option conversion totaling an additional $2,167,188 CAD. The Company has also been focused the past quarter on establishing a direct sales team, which will further increase sales leads and conversions, and as a result, Fobi anticipates a strong finish to the year with continued revenue-generating contracts, additional key partnerships, continued R&D and further key product releases.

COMPANY SECURES HARDWARE INVENTORY AMIDST GLOBAL CHIP SHORTAGE AND LAUNCHES NEW SOFTWARE AND HARDWARE APPLICATIONS. 

Over the past quarter, Fobi has secured key chip components to deliver the latest version of their IoT hardware, Fobi 3.0 which will deliver new and increased functionality and value for retailers. Fobi’s success in securing critical inventory now puts the company in a strong position to support near-term deals and ensure support of continued and anticipated global growth and scale in 2022. The company has also introduced new key software applications in an effort to continue the support of the current global challenges that businesses and venue operators have faced in regards to the push towards mobile-first applications as a result of COVID-19. The company continues to support the needs of business operators as they transition and adapt to the new global digital transformation that we are all witnessing today.  Related to this, Fobi has released 2 key products, Venue Management for Conferences & Events and most recently  CheckVax™, Fobi’s new proof of vaccination and proof of negative Covid test solution. CheckVax™ has garnered a great deal of interest from enterprises, small businesses and the press. Fobi is currently engaged with a number of potential Enterprise Customers in regards to supporting a scheduled return to work in 2022. 

CONTINUED PROGRESS WITH KEY PARTNER INTEGRATIONS SUCH AS SHOPIFY, LIGHTSPEED, VEND TO DELIVER REVENUE AND WITH HEDERA HASHGRAPH TO DELIVER HIGHEST LEVEL OF SECURITY

Over the past quarter, Fobi has continued to drive business through the Partner channel, finishing the POS integration and announcing the launch of the Fobi Lightspeed app.  Fobi is also the featured partner on the Lightspeed and Vend App Stores for the month of October which is driving increased awareness and adoption of the Fobi apps.  Fobi also finished the integration with Shopify and launched the Fobi Shopify app in their App store, gaining access to more than a million Shopify merchants.  Further POS integrations are currently being worked on and will be announced once they are finished and launched.  Fobi also finished their integration with Hedera Hashgraph to bring an additional layer of security to Fobi’s Wallet pass solutions.  This is especially important with the launch of CheckVax™, as health information is especially sensitive.

CONTINUED M&A SUCCESS WITH THE CLOSING OF THE QPLES AND PASSWALLET ACQUISITIONS

The Qples acquisition is very strategic for Fobi, as the company is of the opinion that it will become a significant piece in one of Fobi’s new business models and future revenue streams. This new business model will connect retailers and CPG brands through tying transactions to shoppers, and retailers will now have the ability to deliver personalized coupons and promotions, rewards and messaging directly across all channels, in-store, online and through mobile commerce. This is incredibly powerful as it gives Fobi and the retailer a new source of revenue from coupons. 

The CPGs are also able to see full attribution of the coupon redemptions and the impact on customer lifetime value.  The Qples acquisition positions Fobi extremely well to now convert and implement on several key projects including previously announced commercial pilot applications that are currently underway. 

The second key acquisition (pending exchange approval) this quarter was PassWallet. This is also very strategic for Fobi as it enables Fobi to achieve a faster time to market by leveraging the established, active installed base of over 6,000,000 lifetime downloads, and over 1,000,000 active users who open the app at least once a month. It is also one of the key technologies for Android phones that enables real-time push notification messaging directly to Android users’ cell phones. The PassWallet acquisition is also beneficial as the world is moving towards a mobile-first commerce and business applications approach and this strategic move marks the entry for Fobi into the Fintech vertical as well as continuing the growth and support of Fobi’s presence as a mobile digital Wallet pass leader.

Fobi CEO Rob Anson states, “With the senior management team in place, Fobi has begun to benefit from the increased ability to execute on all fronts. I am very appreciative of the support and passion which all our team members bring to the table. Our collaborative focus and work ethic is the reason why we have been able to accomplish several milestones this quarter. I believe we have built the right nucleus and foundation to execute our strategy and roadmap for 2022 and well beyond.”

This Press Release Is Available on the Fobi website and the FOBI Verified Forum On AGORACOM For Shareholder Discussion and Management Engagement.

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 which constitute forward-looking statements or information, including statements relating to the use of proceeds from the Offering. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic and capital markets conditions, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company 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 plans, operations, 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, the Company 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 the Company should be considered highly speculative. There can be no assurance that the Company 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

NGS Group AB: NGS Group AB (publ) offentliggör prospekt avseende tidigare offentliggjord företrädesemission och riktad emission28.3.2024 10:20:00 CET | Pressemelding

NGS Group AB (publ) offentliggör prospekt avseende tidigare offentliggjord företrädesemission och riktad emission NGS Group AB (publ) ("NGS Group" eller "Bolaget"), offentliggjorde den 29 februari 2024 att styrelsen, under förutsättning av bolagsstämmans efterföljande godkännande, fattat beslut om en kapitalanskaffning om högst cirka 51,3 MSEK (“Transaktionen”), som omfattas av en företrädesemission av aktier om högst cirka 35,2 MSEK (”Företrädesemissionen”) samt en riktad emission av aktier till strategiska investerare om högst cirka 16,1 MSEK (den “Riktade Emissionen”). Den 26 mars 2024 godkände extra bolagsstämman styrelsens beslut om Företrädesemissionen och den Riktade Emissionen. Prospektet för Företrädesemissionen och den Riktade Emissionen har idag godkänts och registrerats av Finansinspektionen samt offentliggjorts på Bolagets hemsida. Publicering av prospektet Fullständig information om Företrädesemissionen och den Riktade Emissionen återfinns i det prospekt som har upprättat

New number of votes and shares outstanding28.3.2024 10:00:00 CET | Press release

Where the company increases or reduces the total number of shares or votes in the company, the company shall by law publish information regarding the change. At the 2011 Annual General Meeting, a share conversion clause was added to Industrivärden’s articles of association. Shareholders have the right at any time to request conversion of Class A shares to Class C shares. During the month of March 2024, 5,017,577 Class A shares were converted to 5,017,577 Class C shares. Following the share conversion, the number of votes in the company is 266,190,340.3. The total number of registered shares in the company is 431,899,108, of which 247,778,255 are Class A shares and 184,120,853 are Class C shares. Stockholm, March 28, 2024 AB INDUSTRIVÄRDEN (publ) For further information, please contact: Sverker Sivall, Head of Corporate Communications and Sustainability, tel. +46-8-666 64 00 This information is information that AB Industrivärden is obliged to make public pursuant to the Financial Instru

Nytt antal röster och utestående aktier28.3.2024 10:00:00 CET | Pressemelding

Bolaget har en skyldighet enligt lag att offentliggöra uppgifter om en förändring i totala antalet aktier eller röster i bolaget. Vid årsstämman 2011 infördes ett omvandlingsförbehåll i Industrivärdens bolagsordning. Aktieägare har rätt att när som helst begära omvandling av A-aktier till C-aktier. Under mars månad 2024 har omvandlingar skett av 5 017 577 A-aktier till 5 017 577 C-aktier. Efter omvandlingen uppgår antalet röster i bolaget till 266 190 340,3. Det totala antalet registrerade aktier i bolaget uppgår till 431 899 108, varav 247 778 255 A-aktier och 184 120 853 C-aktier. Stockholm den 28 mars 2024 AB INDUSTRIVÄRDEN (publ) För ytterligare information kontakta: Sverker Sivall, Kommunikations- och hållbarhetschef, tel. 08-666 64 00 Denna information är sådan information som AB Industrivärden är skyldigt att offentliggöra enligt lagen om handel med finansiella instrument. Informationen lämnades, genom kommunikations- och hållbarhetschefen Sverker Sivalls försorg (tel. 08-666 64

Sportradar and Oddin.gg Ink AV Betting Agreement to Elevate and Expand Esports Reach28.3.2024 09:00:00 CET | Press release

PRAGUE, Czech Republic and ST. GALLEN, Switzerland, March 28, 2024 (GLOBE NEWSWIRE) -- Sportradar (NASDAQ: SRAD) and Oddin.gg, an award-winning B2B betting-solutions provider for esports, today announced they have entered into a multi-year strategic partnership to offer audiovisual streaming of Oddin’s exclusive esports content to Sportradar’s betting operator clients around the world. The deal will support Oddin.gg’s growth ambitions in the expanding global esports market, whose betting turnover was estimated to be €83 billion in 2023. It will extend the reach of Oddin.gg’s official competition content by leveraging Sportradar’s market leading position as an AV betting provider. Sportradar’s global network of 900+ betting operator clients will benefit from the opportunity to offer greater volume and a wider variety of live streamed esports events to their customers, increasing opportunities for engagement with existing and new betting markets. The partnership also paves the way for fu

Municipality Finance issues a EUR 50 million tap under its MTN programme28.3.2024 09:00:00 CET | Press release

Municipality Finance Plc Stock exchange release 28 March 2024 at 10:00 am (EET) Municipality Finance issues a EUR 50 million tap under its MTN programme On 3 April 2024 Municipality Finance Plc issues a new tranche in an amount of EUR 50 million to an existing benchmark issued on 26 April 2023. With the new tranche, the aggregate nominal amount of the benchmark is EUR 1.30 billion. The maturity date of the benchmark is 29 July 2030. The benchmark bears interest at a fixed rate of 3.125 % per annum. The new tranche is issued under MuniFin’s EUR 45 billion programme for the issuance of debt instruments. The offering circular, the supplemental offering circular and final terms of the notes are available in English on the company's website at www.munifin.fi/investor-relations. MuniFin has applied for the new tranche to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 3 April 2024. The existing notes in the se

HiddenA line styled icon from Orion Icon Library.Eye