VANCOUVER, BC, March 29, 2023, 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 the company is expanding its technology solutions to the Asia-Pacific region (APAC), with the rollout of its technology officially launching in Japan.

FOBI’S VP OF MARKETING BRINGS OVER 18 YEARS OF EXPERIENCE IN JAPAN, HELPING DRIVE EXPANSION STRATEGY IN APAC

The company’s expansion strategy into APAC will be spearheaded by Fobi’s VP of Marketing, Ian Cameron, alongside the company’s CEO Rob Anson and CRO Colby McKenzie. Ian possesses extensive experience and expertise working in Japan, where he spent over 18 years leading the Global Brand and Marketing function at multinational printer and electronics company, Epson. During his tenure at Epson, Ian was responsible for all of Epson’s global marketing, communications, and brand activities. As a result, he worked closely with many large marketing and sports marketing agencies in Japan, such as Dentsu & Hakuhodo, bringing valuable industry experience and connections that will notably support Fobi as it reaches a new scale of global impact in the Asia-Pacific region. 

Ian recently spent three weeks in Japan to help develop and solidify the company’s APAC operations through key strategic partnerships. He attended numerous business events, including with the American and Canadian Chambers of Commerce in Japan (ACCJ and CCCJ), to which Ian is an active member of the CCCJ who has significant connections to the Canadian business community in Japan and other Chambers of Commerce in Asia. With an overwhelming amount of positive responses to Fobi’s solutions, there are several new opportunities for Fobi to explore within Japan’s tech, hospitality, and sports markets.

Ian Cameron, VP of Marketing of Fobi, states: “We are thrilled to officially expand Fobi's technology solutions to APAC, starting with Japan. As a country at the forefront of mobile and technological innovation, Japan's rapid adoption of digital wallets and non-payment functions offers a significant opportunity for us to help transform the mobile wallet landscape overseas. 

With my experience and close connections to Japan, I am confident that we can successfully drive growth and reach new levels of global impact in this region. This launch marks a major milestone for Fobi, and we look forward to continuing to expand our footprint in APAC and beyond.”

FOBI’S TECHNOLOGY PRIMED FOR ADOPTION IN INCREASINGLY MOBILE-CENTRIC COUNTRIES

As one of the most technologically advanced nations in the world, mobile wallet adoption in Japan is rapidly increasing. PYMNTS reports that the use of digital wallets in Japan grew by 20% in Q3 2022, far outpacing many other countries in adoption. Consumers in Japan, and APAC at large, are also increasingly using mobile wallets for contactless features beyond payments, with up to 38% of customers using such technology for loyalty cards and coupons, as reported by Nikkei Asia. Other non-payment use cases also include ID verification, digital ticketing, and wallet passes for transportation. Ultimately, the current state of Japan’s adoption of technology and mobile wallet market presents a significant opportunity for Fobi to deliver innovative, real-time platforms and applications that cater to this growing trend of mobile-first experiences, including its solutions for CheckPoint, AltID, membership and loyalty, and more.

Rob Anson, CEO of Fobi, states: “Expansion into the APAC region is something that has been part of the Fobi plan for quite some time now. The foundation of Japanese business is built on relationships, trust, and credibility, which is a great match with Ian’s strong roots and business relationships in Japan, coupled with our list of top-tier clients and use cases. Japan is one of the leading countries when it comes to mobile wallet adoption, and I am very confident that it will be the perfect launch for us into APAC markets.”

The company looks forward to providing additional updates in the coming weeks.

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. We enable businesses to action, leverage, and monetize their customer data by powering personalized and data-driven customer experiences, and drive 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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This news release contains certain statements that constitute forward-looking statements or information, including statements regarding Fobi's business and technology; the ability of Fobi to engage with industry participants to achieve its goals; the development of Fobi's technology; and the viability of Fobi's business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Fobi's control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although Fobi believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity, or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Fobi does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Fobi should be considered highly speculative. There can be no assurance that Fobi will be able to achieve all or any of its proposed objectives.

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