Fobi AI completes first tranche of C$504,200 private placement

Fobi AI Inc. (TSXV: FOBI) announced the completion of the first tranche of its non-brokered private placement, raising C$504,200 through the issuance of 10,084,000 units priced at C$0.05 each.

Each unit consists of one common share and one warrant, with warrants exercisable at C$0.10 for 36 months from issuance. The securities are subject to a four-month hold period under TSX Venture Exchange policies and securities legislation.

The company paid C$3,500 in finder's fees to Raymond James Ltd. and issued 70,000 non-transferable finder warrants with identical terms to the regular warrants. The offering requires final TSX Venture Exchange approval.

Fobi operates under a cease trade order issued by the British Columbia Securities Commission on November 1, 2024, due to failure to file required disclosure documents. The regulator granted a partial revocation order on December 12, 2025, specifically to permit this financing.

The company's securities remain subject to trading restrictions and cannot be traded publicly until the cease trade order is fully revoked. Fobi stated it is working to remedy the filing defaults and expects to apply for full revocation upon completing outstanding filings.

Net proceeds will fund sales and marketing, product expansion, market expansion, and general corporate expenses. Additional tranches may close through February 25, 2026, subject to TSX Venture Exchange approval.

Fobi describes itself as a data and artificial intelligence technology company serving retail, sports, healthcare and regulated industries through digital transformation solutions.

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