Fobi AI Inc. (FOBI:TSXV) (FOBIF:OTCQB) (the
"
Company" or "
Fobi"), an industry
leader in harnessing AI and data intelligence to enable digital
transformation, is pleased to announce that further to its press
releases dated August 22, 2023, September 1, 2023, and September
18, 2023, the Company has completed its non-brokered private
placement financing (the “
Offering”) for an
aggregate of 6,806,271 units of the Company
("
Units") at a price per Unit of $0.22 for
aggregate gross proceeds of $1,497,360. Each Unit consisted of one
(1) common share in the capital of the Company (a “
Common
Share”) and one-half of one (1/2) common share purchase
warrant (each whole warrant, a “
Warrant”). Each
Warrant entitles the holder to acquire one Common Share at an
exercise price of C$0.30 until the earlier of three (3) years from
the closing of the respective date of closing of each tranche; and
(ii) in the event the volume weighted average price of the Common
Shares on the TSX Venture Exchange (the “
TSXV”)
for any continuous 10 trading day period meets or exceeds $0.50
following the closing of the Offering (the “
Acceleration
Condition”), the date that is thirty (30) days following
the issuance of a news release by the Company announcing the
acceleration of the expiry of the Warrants, which such news release
may be issued at any time following the trigger of the Acceleration
Condition (the “
Acceleration Right”). For
avoidance of doubt, the Company shall not be obligated to exercise
the Acceleration Right at any time.
Subject to compliance with applicable regulatory requirements
and in accordance with National Instrument 45-106 – Prospectus
Exemptions (“NI 45-106”), the Units issued
pursuant to the Offering were offered for sale to purchasers
resident in Canada (other than Quebec) and/or other qualifying
jurisdictions pursuant to the listed issuer financing exemption
under Part 5A of NI 45-106 (the “Listed Issuer Financing
Exemption”). As the Offering was completed pursuant to the
Listed Issuer Financing Exemption, the securities issued under the
Offering are not subject to a hold period pursuant to applicable
Canadian securities laws.
The Company intends to use the net proceeds of the Offering for
product expansion and integration, market expansion, and general
working capital and corporate expenses.
The securities of the Company have not been, and will not be,
registered under the U.S. Securities Act of 1933, as amended (the
“U.S. Securities Act”) or any U.S. state
securities laws and may not be offered or sold in the United States
absent registration or an available exemption from the registration
requirements of the U.S. Securities Act and applicable U.S. state
securities laws. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of the securities referenced in this press release, in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
This press release is available on the Fobi website.
To download the Fobi Investor Experience Wallet Pass to get
enhanced access to investor information about Fobi, please visit
our Investor Experience page.
About Fobi AI
Founded in 2017 in Vancouver, Canada, Fobi is a leading AI and
data intelligence company that provides businesses with real-time
applications to digitally transform and future-proof their
organizations. Fobi enables businesses to action, leverage, and
monetize their customer data by powering personalized and
data-driven customer experiences, and drives digital sustainability
by eliminating the need for paper and reducing unnecessary plastic
waste at scale.
Fobi works with some of the largest global organizations across
retail & CPG, insurance, sports & entertainment, casino
gaming, and more. Fobi is a recognized technology and data
intelligence leader across North America and Europe, and is the
largest data aggregator in Canada's hospitality & tourism
industry.
On behalf of the Board of Directors of the Company“Rob
Anson”
For more information, please contact:
Fobi AI Inc. |
|
Fobi Website: www.fobi.ai |
Rob Anson, CEO |
|
Facebook: @ Fobiinc |
T : +1 877-754-5336 Ext. 3 |
|
Twitter: @ Fobi_inc |
E: ir@fobi.ai |
|
LinkedIn: @ Fobiinc |
Cautionary Statement Regarding Forward
Looking Information
This news release contains forward looking
information or statements within the meaning of applicable
securities laws, which may include, without limitation, statements
relating to the use of proceeds of the Offering, the technical,
financial and business prospects of the Company, its assets and
other matters. All statements in this news release, other than
statements of historical facts, that address events or developments
that the Company expects to occur, are forward looking information
or statements. Although the Company believes the expectations
expressed in such forward looking information or statements are
based on reasonable assumptions, such statements are not guarantees
of future performance and actual results may differ materially from
those in the forward looking information or statements. Such
statements and information are based on numerous assumptions
regarding present and future business strategies and the
environment in which the Company will operate in the future,
including the price of inputs including labour costs, the ability
to achieve its goals, expected costs and timelines to achieve the
Company’s goals, that general business and economic conditions will
not change in a material adverse manner, and that financing will be
available if and when needed and on reasonable terms. Such forward
looking information or statements reflects the Company’s views with
respect to future events and is subject to risks, uncertainties and
assumptions, including the risks and uncertainties relating to
litigation and arbitration and the costs and timelines associated
with the same, the potential for unexpected costs and expenses and
those other risks filed under the Company’s profile on SEDAR+ at
www.sedarplus.ca. While such estimates and assumptions are
considered reasonable by the management of the Company, they are
inherently subject to significant business, economic, competitive
and regulatory uncertainties and risks. Factors that could cause
actual results to differ materially from those in forward looking
information or statements include, but are not limited to,
continued availability of capital and financing and general
economic, market or business conditions, failure to compete
effectively with competitors, failure to protect the Company’s
intellectual property, failure to maintain or obtain all necessary
permits, approvals and authorizations, failure to comply with
applicable laws, risks relating to unanticipated operational
difficulties (including failure of equipment or processes, cost
escalation, unavailability of personnel, materials and equipment,
regulatory action or delays in the receipt of regulatory approvals,
work stoppages or disturbances or other job action, and
unanticipated events related to health, safety and other legal
matters), decreases in demand for the Company’s products and
services, the impact of COVID-19 or other viruses and diseases on
the Company’s ability to operate, an inability to predict and
counteract the effects of COVID-19 on the business of the Company,
including but not limited to, the effects of COVID-19 on the price
of inputs, capital market conditions, restriction on labour and
international travel and supply chains, loss of key employees,
consultants, or directors, increase in costs, delayed results,
litigation, and failure of counterparties to perform their
contractual obligations. The Company does not undertake to update
forward looking statements or forward looking information, except
as required by law.
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.
Fobi AI (TSXV:FOBI)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Fobi AI (TSXV:FOBI)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024