Fobi AI Announces Revocation of MCTO

VANCOUVER, BC, January 16, 2024, Fobi AI Inc. (FOBI:TSXV) (FOBIF:OTCQB) (the “Company” or “Fobi”), an industry leader in harnessing AI and data intelligence to enable digital transformation, announces that its principal regulator, the British Columbia Securities Commission (“BCSC”), has revoked the management cease trade order (“MCTO”) previously issued on October 31, 2023, under National Policy 12-203 – Management Cease Trade Orders.

The issuance of the revocation order follows the filing by the Company of its audited annual financial statements for its fiscal year ended June 30, 2023, and its interim financial statements for the three‐month period ended September 30, 2023, with related management’s discussion and analysis and associated Chief Executive Officer and Chief Financial Officer certifications on January 15, 2024 (the “Required Filings”). Copies of the Required Filings are available under the Company’s profile on SEDAR+ at www.sedarplus.ca. 

The Company is also no longer listed as being in default on the BCSC’s reporting issuer list and on the reporting issuer list, or default list, of each jurisdiction of Canada in which it is a reporting issuer to the extent that such jurisdiction maintains a list.

The Company further announces that it will undergo some internal changes, as Colby McKenzie will be stepping down as Chief Revenue Officer, effective January 31, 2024. However, Colby will remain with Fobi and transition into a new role.

This press release is available on the Fobi website.

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About Fobi
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. 

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