Inclusion in the S&P/TSX Venture Composite provides Fobi with the potential to widen its investor base by opening it up to index funds and similar types of investment instruments.
Rob Anson, CEO of Fobi AI stated “The addition of Fobi to the Index is another great milestone for the Company and its shareholders. In a year that has challenged the world’s biggest companies, this serves as great validation of the hard work and careful planning we have put into both the operations and capital markets side of Fobi to deliver outstanding relative success versus all of our peers. From a practical point of view, portfolio managers will now need to add the index weighted amount of shares of Fobi in their portfolios - and continue to add shares to maintain weighting as their assets under management grow - which should benefit the liquidity of our stock for the foreseeable future. Congratulations to all of our loyal shareholders for their belief in Fobi. The best is yet to come.”
The S&P/TSX Venture Composite Index is maintained by the S&P/TSX Canadian Index Committee, which is composed of four members representing S&P Indices and three members representing the Toronto Stock Exchange. Fobi was notified of its addition to the Index by the TSX Venture Exchange as of October 24th, 2022.
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Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi’s unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.
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This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company 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 plans, operations, and 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, the Company 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 the Company should be considered highly speculative. There can be no assurance that the Company will be able to achieve all or any of its proposed objectives.
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