Fobi AI Announces Completion of First Tranche Of Non-Brokered Private Placement

Executive Summary

• Fobi AI Inc. completed the first tranche of its non‑brokered private placement, issuing 10,084,000 units at C$0.05 per unit for gross proceeds of $504,200.
• Each unit consists of one common share and one warrant (exercise price C$0.10, exercisable for 36 months); the securities are subject to a four‑month hold period and existing CTO trading restrictions.
• Net proceeds will be used for sales & marketing, product expansion & integration, market expansion, and general working capital.

Key Details

• Units Issued: 10,084,000 units at C$0.05 per unit → Aggregate gross proceeds: $504,200.
• Unit Composition: 1 common share + 1 common share purchase warrant (exercise price C$0.10, exercisable for up to 36 months).
• Hold Period: Units and underlying shares subject to a four‑month plus one day hold period per TSXV policy and CTO provisions.
• Finder’s Fee Agreement: Raymond James Ltd. received $3,500 cash and 70,000 non‑transferable finder warrants (same terms as the offering warrants).
• Use of Proceeds: Sales & marketing, product expansion & integration, market expansion, general working capital and corporate expenses.
• Regulatory Conditions: Closing subject to final TSXV approval; partial revocation order from BCSC allows completion pending full CTO revocation.
• Future Tranches: Company may close additional tranches on or before February 25, 2026 (or other dates acceptable to the TSXV).
• U.S. Securities Law Disclaimer: Securities not registered under U.S. securities laws; cannot be offered/sold in the United States absent exemption/registration.

Notable Quotes

• Rob Anson, CEO: “The successful close of our first tranche provides essential capital to accelerate our growth initiatives and demonstrates continued investor confidence in Fobi AI’s technology platform.”