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An update from Fobi AI ( (TSE:FOBI) ) is now available.
Fobi AI has completed the first tranche of its previously announced non-brokered private placement, issuing 10,084,000 units at C$0.05 per unit for gross proceeds of C$504,200, each unit consisting of one common share and one warrant exercisable at C$0.10 for 36 months, and has paid a cash finder’s fee and issued finder warrants on similar terms. The financing, which remains subject to final TSX Venture Exchange approval and may be followed by additional tranches before late February, is intended to fund sales and marketing, product expansion and integration, market expansion, and general working capital as the company works to remedy outstanding filings and seek full revocation of a current cease trade order that continues to restrict public trading of its securities.
More about Fobi AI
Fobi AI Inc. is a Vancouver-based data and AI technology company that enables digital transformation through real-time data analytics, mobile-wallet engagement, and Web3-ready solutions. The company integrates strategy, technical architecture, and execution to help clients in retail, sports, healthcare, and other regulated industries convert digital initiatives into measurable business results.
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$8.98M
For detailed information about FOBI stock, go to TipRanks’ Stock Analysis page.