Fobi AI receives partial revocation order, plans C$1.5 million financing

Fobi AI Inc. (TSXV: FOBI) received a partial revocation order from the British Columbia Securities Commission on December 12, 2025, allowing the company to proceed with a non-brokered private placement financing despite an existing cease trade order.

The company plans to raise up to C$1.5 million through the sale of up to 30 million units priced at C$0.05 each. Each unit consists of one common share and one warrant exercisable at C$0.10 for 36 months from issuance.

Fobi AI was subject to a failure-to-file cease trade order issued November 1, 2024. The partial revocation order specifically permits the financing transaction while the broader trading restrictions remain in place.

The company stated the financing proceeds will fund accounting, audit and legal fees for preparing outstanding continuous disclosure documents, filing fees for obtaining full revocation of the cease trade order, employee salaries, operational expenses, and finder's fees.

The financing may include cash commissions of up to 7% of gross proceeds to finders, along with broker warrants representing up to 7% of units sold. These broker warrants would be exercisable at the offering price for 36 months.

Closing is expected around January 12, 2026, subject to conditions including approval from the TSX Venture Exchange. Securities issued will be subject to a four-month and one-day hold period under exchange policies and securities legislation.

The company will notify subscribers that common shares remain subject to the cease trade order until full revocation is granted. The partial revocation order does not guarantee future issuance of a full revocation order.

Fobi AI operates as a data and artificial intelligence technology company serving retail, sports, healthcare and regulated industries.

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