Fobi AI Announces Completion Of Non-Brokered Private Placement

Core Viewpoint - Fobi AI Inc. has successfully completed the third tranche of a non-brokered private placement financing, raising a total of $1,354,200 through the issuance of 27,084,000 units at a price of $0.05 per unit, which includes common shares and warrants [1][2]. Financing Details - The third tranche involved the issuance of 7,000,000 units at a price of C$0.05, generating gross proceeds of $350,000 [2]. - Each unit consists of one common share and one warrant, with the warrant allowing the holder to purchase one common share at an exercise price of C$0.10 for 36 months from issuance [2]. - The securities issued are subject to a four-month and one-day hold period as per TSX Venture Exchange policies [2]. Finder's Fee Agreements - The company entered into agreements with Haywood Securities Inc. and Ventum Financial Corp. for finder's fees, resulting in a cash payment of $17,500 and the issuance of 350,000 non-transferrable finder warrants [3]. Management Commentary - The CEO of Fobi expressed satisfaction with the closing of the offering, acknowledging the challenges in raising capital in small cap markets, particularly due to the company's CTO and broader market conditions [4]. - The closing is viewed as a significant milestone towards achieving relisting approval and resuming trading [5]. Future Plans - The company plans to utilize the net proceeds from the offering for sales and marketing, product expansion, market expansion, and general working capital [6]. - The company is also focused on completing its Annual 2025, Q1/26, and Q2/26 financial filings [6]. Regulatory Context - Fobi is currently under a CTO issued by the British Columbia Securities Commission due to the failure to file certain disclosure documents, but a partial revocation order has been granted to allow the completion of the offering [7].