Fobi AI closes $500,000 second tranche of placement

Executive Summary

• Fobi AI Inc. completed the second tranche of its non‑brokered private placement, issuing 10 million units at $0.05 per unit for total gross proceeds of $500,000.
• Each unit includes one common share and one warrant (exercise price $0.10, exercisable for 36 months); both shares and warrants are subject to a four‑month‑and‑one‑day hold period under TSX‑V rules and a cease‑trade order.
• Net proceeds will be used for sales & marketing, product expansion & integration, market expansion, and general working capital and corporate expenses.

Key Details

• Units Issued: 10 million units (each = 1 common share + 1 warrant).
• Price per Unit: $0.05.
• Gross Proceeds: $500,000.
• Warrant Terms: Exercise price $0.10; exercisable up to 36 months from issuance.
• Hold Period: Shares and warrants subject to a 4‑month‑and‑1‑day hold period per TSX‑V policies and securities legislation.
• Cease‑Trade Context: Offering proceeds despite an existing cease‑trade order (CTO) issued Nov 1 2024; partial revocation granted Dec 12 2025 allowing completion of this tranche.
• Finder Fees: No finders’ fees were paid in connection with the second tranche.
• Use of Proceeds: Allocation to sales and marketing, product expansion & integration, market expansion, and general working capital/corporate expenses.
• Regulatory Approval: Offering remains subject to final approval by the TSX‑V.

Notable Quotes

(No direct quotes were provided in the release.)