VANCOUVER, BC, May 15, 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 the launch of its new integrated event registration and ticketing platform. Designed to redefine the event registration and ticketing landscape, this innovative platform enhances the company's traditional Software-as-a-Service (SaaS) model by introducing additional revenue opportunities through ticket purchase transaction fees, thereby adding new revenue streams for Fobi.

FOBI TO ENHANCE AND STREAMLINE TODAY'S TICKETING PROCESS

This latest Fobi product release aims to solve the pain points experienced by event organizers and attendees by providing centralized event registration and ticketing purchases, memberships, and credentials into a single, streamlined web or mobile interface. This integrated offering will now facilitate a much smoother, hassle-free experience, enabling attendees to manage and access all of their event-related needs from one secure, accessible, and convenient location in either their Apple or Google wallet. This capability eliminates the need for physical tickets, reducing paper waste and offering a more secure and convenient way to access event passes.

PASS BUNDLING TO DELIVER 9 NEW WAYS TO PROMOTE FURTHER NEW LINE REVENUE GROWTH

Furthermore, Fobi AI introduces an innovative aspect to the event registration and purchase experience with the integration of pass bundling. This feature allows for the bundling of event tickets with additional purchase offerings such as merchandise, food and beverage, parking, raffle tickets, and more, all within the same user-friendly platform. By consolidating these purchases, the platform provides a more streamlined and enjoyable event experience, saving time and effort for attendees.

Rob Anson, CEO of Fobi AI, shares his vision: "We are steadfast in our commitment to enhancing shareholder value by driving new revenue streams. This product release is a testament to Fobi AI's dedication to addressing client needs and enhancing user experiences through innovative technology. This advancement in event registration and ticketing management not only provides unprecedented convenience but also unlocks new opportunities for generating additional revenue for Fobi AI."

As Fobi AI continues to lead with cutting-edge solutions, this new platform demonstrates our commitment to empowering event organizers and providing unparalleled convenience and value to attendees. With its comprehensive features and dedication to innovation, Fobi AI is setting new standards in the event industry, ensuring every event is enjoyable, seamless, and efficient.

This press release is available on the Fobi website.

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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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.