Fobi AI completes $1.35 million private placement amid trading halt

Fobi AI Inc. (TSXV: FOBI) completed its non-brokered private placement offering, raising $1,354,200 through the issuance of 27,084,000 units priced at $0.05 each, the company announced.

The final tranche, completed March 19, comprised 7 million units for gross proceeds of $350,000. Each unit consists of one common share and one warrant exercisable at $0.10 for 36 months. The company paid $17,500 in finder's fees and issued 350,000 finder warrants to Haywood Securities Inc. and Ventum Financial Corp.

The securities remain subject to a four-month hold period and restrictions under a cease trade order issued by the British Columbia Securities Commission on November 1, 2024, due to the company's failure to file required disclosure documents. The commission granted a partial revocation order in December 2025 to permit the private placement.

CEO Rob Anson stated the company will focus on posting its Annual 2025, Q1/26, and Q2/26 financial filings following this milestone. Fobi intends to use proceeds for sales and marketing, product expansion, market expansion, and working capital.

The company's securities cannot be traded by the public until the cease trade order is fully revoked. Fobi expects to apply for full revocation upon completing outstanding filings. The offering requires final approval from the TSX Venture Exchange.

Fobi AI operates as a data and artificial intelligence technology company serving retail, sports, healthcare, and regulated industries through real-time data solutions and mobile-wallet engagement platforms.

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