Breaking News: FOBI AI Inc. Plans Private Placement and Receives BCSC Approval!

Vancouver, BC, Dec. 27, 2024 (GLOBE NEWSWIRE) —

FOBI AI Inc. (FOBI:TSXV) (FOBIF:OTCQB) (“Fobi” or the “Company”) announces that it has applied to its principal regulator, the British Columbia Securities Commission (“BCSC”), for a partial revocation order (the “Partial Revocation Order”) of the ongoing failure-to-file cease trade order (“FFCTO”) ordered by the BCSC on November 1, 2024, in order to complete a non-brokered private placement offering (the “Proposed Offering”) of 56,114,400 units of the Company (the “Units”) to a single subscriber (the “Subscriber”) at a price per Unit of US$0.04 for aggregate gross proceeds of US$2,244,576 on a prospectus exempt basis. Each Unit is comprised of one common share in the capital of the Company (a “Unit Share”) and one common share purchase warrant (a “Unit Warrant”), each of which is exercisable for the purchase of one additional common share in the capital of the Company at a price of US$0.06 per share for a period of two years from the date of the closing of the Proposed Offering.

Impact on Individuals:

As an individual investor, the news of FOBI AI Inc. planning a private placement and receiving BCSC approval can present an opportunity for you to potentially participate in the growth of the company. By offering units at a discounted price with additional warrants, you may consider investing in the Proposed Offering to benefit from potential future gains in the company’s value.

Global Impact:

On a global scale, FOBI AI Inc.’s successful private placement and approval from the BCSC can indicate a positive outlook for the company’s operations and expansion. This could lead to increased interest from international investors, potentially boosting the company’s profile in the global market and driving innovation in the field of artificial intelligence.

Conclusion:

In conclusion, the announcement of FOBI AI Inc.’s private placement and BCSC approval marks a significant development for the company and presents opportunities for both individual investors and the global market. It will be essential to monitor the progress of the Proposed Offering and its impact on the company’s future growth and innovation in the AI sector.