FOBI AI INC - FOBIF STOCK NEWS

Fobi AI Inc. is launching a new Venue Management System for Conferences & Events at the Society for Independent Show Operators (SISO) Summer Conference from August 24-26 in Louisville, Kentucky. This system enhances mobile-first, contactless experiences, aiming to transform event management. It includes features like smart check-in and real-time analytics, potentially generating new revenue opportunities for organizers.

Fobi's platform is well-timed as the industry recovers from COVID-19 challenges, with significant growth anticipated in the Event Management Software sector, projected to reach $14.6 billion by 2025.

Fobi AI Inc. has successfully completed the acquisition of Passcreator, integrating its operations to enhance customer engagement through advanced data analytics. The integration allows access to a client base that includes major global companies, facilitating expansion into the North American mobile wallet market. The launch of the Smart Scan App will further validate Wallet passes, supporting increased revenue potential. Passcreator is expected to see significant revenue growth in Q3 and Q4, leveraging a strong pipeline and new business opportunities.

Fobi AI is expanding its collaboration with bdG Sports to incorporate ticketing and admissions capabilities for the upcoming Baha Mar Hoops event in The Bahamas, from November 22-27, 2021. This event will feature 19 NCAA teams and aims to enhance fan engagement through Fobi's Wallet Pass platform. Notably, Fobi stands to generate significant revenue through event licenses, ticket fees, and digital activations, alongside improved customer experiences via contactless entry. The company's visibility will increase during national broadcasts on CBS, enhancing brand recognition.

FOBI AI Inc. has signed a Binding Letter Of Intent to acquire Qples, a digital coupon leader, aiming to capture a share of the $225 billion coupon industry which is predominantly paper-based. Qples is expected to generate $1 million in revenue for 2021 and $2 million in 2022 pre-acquisition. This acquisition integrates with Fobi’s technologies, enhancing coupon management and marketing capabilities for Consumer Packaged Goods (CPG) brands. The deal is projected to close in August, contingent on due diligence and regulatory approvals.

Fobi AI Inc. announced its selection by GPJ, a leading event marketing agency, to implement its Wallet pass solution for INEOS’ upcoming vehicle launch. This project, initiated on July 18, 2021, supports a global roadshow for the INEOS Grenadier 4x4, expected to generate revenue this quarter and ongoing monthly recurring revenue from Wallet pass licenses. With INEOS generating $61 billion annually and GPJ serving over 40 Fortune 500 clients, this partnership positions Fobi for increased revenue opportunities and future contracts.

FOBI AI Inc. (TSXV: FOBI) (OTCQB: FOBIF) provided a corporate update highlighting significant initiatives despite pandemic challenges. CEO Rob Anson noted successful completion of multiple pilot projects with major retailers, including Sobeys and Certas. The company has achieved a robust balance sheet and is on track to uplist to major exchanges by Q4 2021. A recent private placement raised over $10.42 million, further strengthening financial resources. Notably, Passcreator achieved $161,630 CDN in revenue for Q1, reflecting a 188% year-over-year increase, supported by expanding partnerships with major clients.

Fobi AI Inc. announces the appointment of Jolie Summers as its new VP of Product, effective June 21, 2021. Summers brings over a decade of experience, having transformed products in various sectors, including healthcare and e-commerce, while working with companies like Lululemon and NTT Data. CEO Rob Anson emphasized that her expertise aligns with Fobi's growth strategy and will enhance its product offerings in data intelligence and IoT. This strategic hire aims to boost Fobi's market position and customer engagement as it continues its trajectory of innovation.

Fobi AI Inc. (TSX.V: FOBI) has announced a partnership with CareSpace.AI to deploy the Fobi Wallet pass technology across North American higher education institutions. This collaboration aims to facilitate secure COVID-19 vaccination verification and enhance contactless services for students. Additionally, Fobi established a multi-year reseller agreement with TELUS, allowing the telecom giant to market Fobi's solutions to its extensive customer base. This partnership is expected to significantly boost Fobi's growth opportunities and streamline service delivery.

Fobi AI Inc. (FOBIF) has signed a licensing agreement with CareSpace.AI to integrate its real-time venue management solution into over 100 North American college campuses. This partnership aims to facilitate secure COVID-19 vaccination validation and contactless transactions through the Fobi Wallet pass technology. With about 19 million students in the US, the potential market for this solution is substantial. The collaboration also enhances student engagement and safety, leveraging CareSpace's healthcare expertise alongside Fobi's data analytics capabilities.