• This agreement signifies the second agreement with VIB, building off of the previously announced agreement on August 16, 2023

VANCOUVER, BC, April 22, 2024 (GLOBE NEWSWIRE) --  Fobi AI Inc. (FOBI:TSXV) (FOBIF:OTCQB) (the "Company" or "Fobi"), an industry leader in harnessing AI and data intelligence to enable digital transformation, is pleased to announce that the Company has signed a data license agreement with Vancouver Island Brewing (VI Brewing), one of Canada’s original craft breweries. This strategic partnership will equip the brewery with advanced data analytics capabilities to drive exponential growth and innovation in today’s heavily competitive craft beer industry.

Rob Anson, CEO of Fobi AI, states: “We are thrilled about the continuous growth and expansion of our partnership with Vancouver Island Brewing. Additionally, we are proud of the recognition and validation that our Fobi Data Exchange brings to the beverage and liquor industry. The growing momentum and traction we are seeing highlight the significant value that automation and real-time capabilities provide to organizations in this industry. We take great pride in leading the way with our Fobi Data Exchange and we are pleased with yet another win here.”

FOBI'S REAL-TIME ANALYTICS TO EMPOWER QUICKER, SMARTER, DATA-DRIVEN DECISION-MAKING

In today's beverage market, businesses face challenges accessing actionable insights due to fragmented data sources and siloed information, particularly at the retail store level. Many breweries operate without clear visibility, making important business decisions regarding performance gaps, forecasting, and operations blindly. Fobi's Data Exchange revolutionizes data access by offering a fully automated platform with real-time, actionable insights, at both the retail store and industry level, turning instinct-driven approaches into smarter, data-driven decisions. By leveraging and automating data effectively, Fobi’s Data Exchange allows businesses to pinpoint market gaps, capitalize on opportunities, and optimize resource allocation with precision.

With 40 years of brewing excellence, Vancouver Island Brewing consistently strives to remain at the forefront of trends, innovation, and technological advancements. However, the beer industry is facing ongoing competition from the growth of other categories, like wine, ready-to-drink (RTD) and Non-Alc beverages. Following the successful implementation of our digital loyalty program at VI Brewing in 2023, Fobi will expand its partnership with the brewery, offering a custom analytics dashboard, providing real-time visibility into actionable insights and forecasting capabilities, down to the city and regional levels.

By gaining invaluable insights into consumer purchasing behaviour, preferences, and patterns, the brewery can tailor its offerings, marketing strategies, and operational tactics to exceed the evolving expectations of its customer base and maintain its position as a leader in the craft beer landscape.

Zachary Van Der Ende, Director of Sales at VIB, states: "It's extremely exciting to begin working with Fobi Analytics! As a sales team that prides itself on providing value to our customers, the data insights that we are going to garner from working with Fobi Analytics are only going to enhance the partnerships we have with our private retail customers in British Columbia. The Fobi Analytics platform is in-depth and extremely user-friendly. The data that it will provide will be instrumental in helping grow our brands in a competitive beer market."

David Nicholls, VP of Liquor Beverage at Fobi AI, states: "Breweries constantly need to evolve in this highly competitive liquor industry, whether it’s launching new beer styles to meet consumer demands and preferences or introducing new formats to address current economic conditions. We’re excited to be working with one of the most well-known breweries in BC to help them navigate this dynamic landscape and make faster data-driven decisions based on clear insights and observations.”

As we continue to scale, our annual license fee model ensures sustainable revenue generation while delivering unparalleled value to our clients. By addressing the industry's pain points and providing a scalable solution, Fobi AI is driving momentum and success in the market, facilitating the growth ambition of businesses like VI Brewing in today's competitive landscape.

About Vancouver Island Brewing
Celebrating our 40^th anniversary, Vancouver Island Brewing has been locally brewed since '84 and we are proud to be driving innovation in an industry that we helped pioneer in British Columbia.

We brew a wide selection of beers that can accompany you on all your adventures. We are committed to producing fun, authentic, and shareable brews. We never compromise on quality, and that is reflected in all the beers that we make. For more information, please visit https://vibrewing.com/.

About Fobi AI
Founded in 2017 in Vancouver, Canada, Fobi is a leading AI and data intelligence company that provides businesses with real-time applications to digitally transform and future-proof their organizations. Fobi enables businesses to action, leverage, and monetize their customer data by powering personalized and data-driven customer experiences, and drives digital sustainability by eliminating the need for paper and reducing unnecessary plastic waste at scale.

Fobi works with some of the largest global organizations across retail & CPG, insurance, sports & entertainment, casino gaming, and more. Fobi is a recognized technology and data intelligence leader across North America and Europe, and is the largest data aggregator in Canada's hospitality & tourism industry.

On behalf of the Board of Directors of the Company

Rob Anson
Chief Executive Officer and Director

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This news release contains certain statements that constitute forward-looking statements or information, including statements regarding Fobi's business and technology; the ability of Fobi to engage with industry participants to achieve its goals; the development of Fobi's technology; and the viability of Fobi's business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Fobi's control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although Fobi believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity, or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Fobi does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Fobi should be considered highly speculative. There can be no assurance that Fobi will be able to achieve all or any of its proposed objectives.

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