VANCOUVER, B.C., Oct. 04, 2022 (GLOBE NEWSWIRE) -- Fobi AI Inc. (FOBI: TSXV FOBIF: OTCQB) (the “Company” or “FOBI”), a leader in providing real-time data analytics through artificial intelligence to drive operational efficiencies and profitability, today announced the signing of a joint Reseller partnership with XInfluence, one of the top Influencer platforms servicing some of the top Brands and Retailers in North America. Fobi will generate new line revenue by way of a mutual reseller partnership, whereby XInfluence will resell the Passcreator by Fobi Wallet pass platform to their current and future customers, and Fobi will resell the XInfluence media platform to their current and future customers. This announcement is very key and will immediately help to accelerate Fobi’s Affiliate and Influencer platform for Qples that was recently announced.

XINFLUENCE WORKS WITH SOME OF THE LARGEST GLOBAL CPG (FMCG) BRANDS & RETAILERS

XInfluence provides an Influencer marketing platform for CPG brands that gives them access to over 2.5 million influencers and celebrities in the XInfluencer database. Brands can then filter these influencers based on industry, age, credibility ranking (provided by a 3^rd party service), and other key segmentation criteria to ensure that they are using the right influencers to reach the right audiences thereby maximizing the ROI for their influencer campaigns. Some of the brands that XInfluencer have worked with include Unilever, Jamison Whisky and Vodaphone.

INTEGRATION OF PASSCREATOR WITH XINFLUENCER ENABLES THE ABILITY TO PROVIDE UNIQUE VALUE TO BRANDS

The integration of Passcreator by Fobi’s Wallet pass platform with the XInfluencer Marketing Platform enables brands to not just gain access to their selected influencer’s audience, but also to gain visibility into campaign attribution and return on investment. By enabling the connection of online promotions to online and offline commerce, brands are able to determine how effective their campaigns were at driving revenue and tracking the impact of their campaigns on customer lifetime value. In addition, Passcreator wallet passes help create a more direct connection for the brand with the influencers’ followers by enabling messaging from the brand direct to the followers. The ability for a brand to send a message to the influencer’s followers’ mobile lock screens when they are near a store that carries their products and encourage them to purchase at a bricks and mortar store and then be able to measure the impact of the campaign on sales is incredibly unique and valuable.

XInfluence CEO Mark Wright stated “This partnership with Fobi is very exciting as it gives us the ability to help our clients with a new way to deliver offers to the right people at the right time and place through Wallet passes. On top of this, the ability to drive people to convert offline and provide improved attribution and ROI data makes this a very unique and compelling solution for our brand customers.”

Fobi CEO Rob Anson stated “This agreement provides Fobi with both an industry leading channel reseller partner and a major catalyst in our sales cycle with global CPG brands. From a solutions point of view, our combined capabilities will deliver an unprecedented digital activation capability for both major brands and retailers resulting in significantly improved promotions, attribution and ROI. It also provides a whole new path of untapped opportunity for enabling the combination of retail data intelligence and social influencer marketing via our wallet passes. We expect this partnership to deliver meaningful new top-line revenue for Fobi and our shareholders.”

For more information, listen to the Fobi Podcast with XInfluence where you’ll hear even more about the importance of this announcement.

The Company has granted, pursuant to its Stock Option Plan (“Plan”) and, for the purpose of annual board renewal compensation for fiscal 2023, an aggregate of 1,000,000 stock options (“Options”) to the Company’s directors to purchase an aggregate of up to 1,000,000 common shares (“Shares”) in the capital of the Company. The Options were awarded at an exercise price of $0.43 per Share, expire five years from the grant date, and vest over a six-month period.

This press release is available on the Fobi Website and the FOBI Verified Forum On AGORACOM for shareholder discussion and management engagement.

About XInfluence
XInfluence is a leading, full-service influence marketing platform and agency. We work closely with top brands and agencies, maximising ROI through our data first, influencer lead, marketing platform. Our team of experts have unrivalled experience in the sector and we’re constantly looking for new ways to harness the power of social media to drive tangible business results for our clients. 

About Fobi
Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi's unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.

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Forward-Looking Statements/Information:
This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company 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 plans, operations, and 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, the Company 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 the Company should be considered highly speculative. There can be no assurance that the Company 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) accepts responsibility for the adequacy or accuracy of this release.