FOBI AI INC - FOBIF STOCK NEWS

Fobi AI Inc. (FOBIF) announced significant growth in its couponing platform, Qples, reporting a 350% increase in client growth since the launch of its partnership with ShopperBridge in late 2022. The platform is now serving notable brands such as Lightlife and Yogi Tea, driving new-line revenue through services and media sales.

Qples, aided by ShopperBridge’s advanced media solutions, enhances in-store advertising capabilities for consumer packaged goods (CPG) brands, facilitating targeted promotions and measuring sales impact. CEO Rob Anson noted that this partnership is pivotal in addressing industry challenges and expanding their enterprise customer base.

FOBI AI Inc. (TSXV: FOBI, OTCQB: FOBIF) has successfully completed the acquisition of Passworks S.A., a prominent European digital wallet and mobile marketing firm. The transaction was executed under a share purchase agreement with Vendor Francisco Fiúza Da Silva Beirâo Belo, for a total value of €500,000, paid through the issuance of 1,674,264 common shares at $0.44 each. This strategic acquisition aims to enhance FOBI's scale, providing access to key Tier 1 customers and agency relationships, which is expected to drive immediate revenue growth. The Vendor may earn an additional €50,000 if Passworks' gross revenue exceeds €300,000 within a year post-acquisition. A service agreement was also established with the Vendor, committing to monthly fees and additional share compensation.

Fobi AI Inc. (FOBIF) announced the appointment of David Nicholls as Vice President of Liquor Beverage, aiming to enhance its global growth strategy within the liquor beverage industry. Nicholls brings over 15 years of marketing and leadership experience, having held key roles at major firms such as Anheuser-Busch InBev and Molson Coors. His previous successes include launching Bud Light Lime in Canada and revitalizing Vancouver Island Brewing. This addition to the senior management team is intended to strengthen Fobi's position in the lucrative liquor sector, especially following a $10 million licensing agreement with BevWorks Brands Inc. to bolster growth and consolidation strategies. Fobi continues to work on acquiring Passworks S.A., expected to finalize in April.

Fobi AI Inc. (FOBIF:TSXV) has signed a one-year annual North American license agreement with ParcelPal Logistics Inc. The agreement involves Fobi providing its Wallet Pass platform and digital ID verification solution, AltID, for an annual fee of $55,000, plus additional fees for active passes and verifications. This partnership aims to enhance ParcelPal's mobile application, enabling improved customer experiences and streamlined delivery services, particularly in regulated industries like tobacco and cannabis. The integration of Fobi's technology is expected to give ParcelPal a competitive edge in its digital transformation efforts and expand its services into European and APAC markets.

Fobi AI Inc. (FOBI:TSXV, FOBIF:OTCQB) is expanding its technology solutions to the Asia-Pacific (APAC) region, launching in Japan. The expansion is led by VP of Marketing Ian Cameron, who brings over 18 years of experience in Japan, particularly from his tenure at Epson. Fobi's services are timely, given a reported 20% increase in digital wallet usage in Japan as of Q3 2022. Fobi aims to tap into the growing demand for mobile wallet solutions beyond payments, as Japanese consumers increasingly use these technologies for loyalty programs and ID verification. The company sees this launch as a significant milestone in its global growth strategy.

Fobi AI Inc. (FOBIF) has secured a significant $10 million licensing agreement with BevWorks Brands Inc. The five-year contract, signed on March 24, 2023, allows Fobi to leverage its AI and data solutions to enhance BevWorks’ operational efficiency. Fobi will generate $10 million in revenue from this deal, recognized over the contract's duration. The partnership aims to help BevWorks streamline its operations and innovate within the beverage sector. Fobi’s technology will provide real-time data insights, enabling more data-driven decision-making for BevWorks, reinforcing Fobi's growth strategy in high-value industries.