Sunday, 10 Aug 2025
  • About Us
  • Contact Us
  • Terms and Conditions
  • Privacy Policy
Subscribe
Life Care News
  • Home
  • Business
    • Business Wire
    • Globenews Wire
  • News
    NewsShow More
    Manulife to Acquire Comvest Credit Partners, Creating a Leading Private Credit Platform
    Manulife to Acquire Comvest Credit Partners, Creating a Leading Private Credit Platform
    10/08/2025
    Bybit Crypto Insights Report: Everything You Need to Know About Project Crypto
    Bybit Crypto Insights Report: Everything You Need to Know About Project Crypto
    10/08/2025
    MiTAC Computing Partners with Industry Leaders on Open AI Server Solutions at OCP APAC Summit 2025
    MiTAC Computing Partners with Industry Leaders on Open AI Server Solutions at OCP APAC Summit 2025
    09/08/2025
    NOTICE OF SETTLEMENT APPROVAL
    NOTICE OF SETTLEMENT APPROVAL
    09/08/2025
    BBBS & Israel’s Foresight Awarded USD 5 Million to Build & Commercialize Rugged Autonomous Drones for Hazardous Industrial Environments
    BBBS & Israel’s Foresight Awarded USD 5 Million to Build & Commercialize Rugged Autonomous Drones for Hazardous Industrial Environments
    09/08/2025
  • Tech
  • Health
  • Sports
  • Entertainment
  • Automobile
  • 🔥
  • news
  • june
  • july
  • global
  • Business
  • today
  • announced
  • Tech
  • company
  • will
Font ResizerAa
Life Care NewsLife Care News
  • Home
  • Business
  • News
  • Tech
  • Health
  • Sports
  • Entertainment
  • Automobile
Search
  • Home
  • Business
    • Business Wire
    • Globenews Wire
  • News
  • Tech
  • Health
  • Sports
  • Entertainment
  • Automobile
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Tech

FOBI AI Inc. Announces Closing of the Sale of German Subsidiary

GlobeNews Wire
Last updated: 13/06/2025 5:52 AM
GlobeNews Wire
Share
7 Min Read
FOBI AI Inc. Announces Closing of the Sale of German Subsidiary
SHARE
FOBI AI Inc. Announces Closing of the Sale of German Subsidiary

June 12, 2025 16:53 ET  | Source: Fobi AI Inc.

Vancouver, BC, June 12, 2025 (GLOBE NEWSWIRE) — FOBI AI Inc. (FOBI:TSXV) (FOBIF:OTCQB) (“Fobi” or the “Company”) announces that further to its news release dated May 28, 2025, it has closed the sale (the “Transaction”) of all of its shares in Fobi AI Germany GmbH (the “Acquired Company”), its wholly owned German subsidiary, to an arm’s length third party purchaser (the “Purchaser”) pursuant to the terms of share purchase agreement dated May 28, 2025 (the “Agreement”).

Pursuant to the Agreement, the Purchaser paid to FOBI an aggregate of EUR 1,540,000.00 consisting of a cash purchase price in the amount of EUR 1,400,000.00 (the “Purchase Price”) and an additional purchase price in the amount of EUR 140,000.00, which was paid by the Purchaser to the Acquired Company on behalf of FOBI after assumption by the Purchaser of FOBI’s obligations to pay such amount per the License (as defined below).

Pursuant to the Agreement, the Acquired Company granted FOBI a license (the “License”) to use the “Passcreator Software” for the payment of an aggregate price of EUR 140,000. Such payment obligation was assumed by the Purchaser pursuant to the Agreement. The License is non-exclusive, worldwide, irrevocable and sublicensable. The term of the License is 48 months after closing of the Transaction, without the right to terminate during these 48 months.

No finders fee was paid pursuant to the Agreement.

The Company is currently subject to an ongoing failure-to-file cease trade order ordered by the British Columbia Securities Commission on November 1, 2024 (the “FFCTO“). The FFCTO is applicable to the securities of the Company. The Transaction involves a sale of the securities of the Acquired Company, being a private German limited liability company not publicly listed on any stock exchange.

About Fobi

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.

For more information, please contact:

Fobi AI Inc.   Fobi Website: www.fobi.ai
Rob Anson, CEO   Facebook: @ Fobiinc
T : +1 877-754-5336 Ext. 3   Twitter: @ Fobi_inc
E: ir@fobi.ai   LinkedIn: @ Fobiinc

Forward Looking Statements/Information:

This news release contains certain statements which constitute forward-looking statements or information, including statements regarding the terms of the Transaction, the timing of the closing of the Transaction, and other statements characterized by words such as “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “targets,” “intends,” “likely,” “will,” “should,” “to be”, “potential” and other similar words, or statements that certain events or conditions “may”, “should” or “will” occur. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company’s control, including, without limitation, market competition, the impact of general economic and industry conditions, competition, stock market volatility, BCSC and Exchange approval conditions, 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. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes to volatile exchange rates, market conditions, market competition and other economic and market factors. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions. 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.

MEXC to Serve as Major Sponsor at Solana Summit APAC 2025, Reinforcing Commitment to SOL Ecosystem Growth
Xinhua Silk Road: Ningxia goji berries claim over 61 pct of China’s online retail sales market in 2024
Arovia Returns to Kickstarter with the Splay Max The Ultimate Portable 2-in-1 Display and Projector
Las Vegas News Briefs February 2025
Valneva Announces Availability of Documentation for its Combined Shareholder Meeting and Provides Corporate Update
TAGGED:acquiredAdventureagreementamountannouncesclosedcompanydatedeurfobifobifotcqbfobitsxvfurtherglobeincjunemaynewsnewswirepaidpricepurchasepurchaserpursuantreleasesalesharessourcetransactionvancouver
Share This Article
Facebook Copy Link Print
- Advertisement -

Your Trusted Source for Accurate and Timely Updates!

Our commitment to accuracy, impartiality, and delivering breaking news as it happens has earned us the trust of a vast audience. Stay ahead with real-time updates on the latest events, trends.
FacebookLike
XFollow
PinterestPin
InstagramFollow
YoutubeSubscribe
LinkedInFollow
MediumFollow

Most Selling Products

Top Picks, Trending Now – Discover the Best Sellers!
Tecno Camon 20 Premier 5G

Tecno Camon 20 Premier 5G

Dark Welkin | 8GB RAM + 512GB Storage (Expandable RAM up to 16GB) | Industry’s 1st 50MP RGBW-Pro Camera | Segment-First 108MP Ultra-Wide Macro Lens | 6.67" 120Hz 10-bit AMOLED In-Display

iQOO Z10 Lite 5G

iQOO Z10 Lite 5G

Titanium Blue | 6GB RAM + 128GB Storage | Dimensity 6300 5G with 433K+ AnTuTu Score | Robust 6000mAh Battery | IP64 Rated + Military-Grade Shock Resistance

OnePlus 13s

OnePlus 13s

Black Velvet | 12GB RAM + 256GB Storage | Flagship Snapdragon® 8 Elite Chipset | Exceptional Battery Life in a Compact Form | Lifetime Display Warranty Included

Samsung Galaxy A55 5G

Samsung Galaxy A55 5G

Awesome Iceblue | 8GB RAM + 256GB Storage | Premium Metal Frame | 50MP OIS Main Camera with Nightography | IP67 Water & Dust Resistance | Gorilla Glass Victus+ | sAMOLED Display with Vision Booster

You Might Also Like

Bybit Crypto Insights Report: Everything You Need to Know About Project Crypto
Tech

Bybit Exclusive: DefiTuna (TUNA) to List on Bybit Spot

31/07/2025

Ancora Comments on Clear Mandate from Forward Air Shareholders That a Well-Run Sale Process is Urgently Needed

12/06/2025
Almirall H1 2025 Results
Business

Almirall H1 2025 Results

25/07/2025
Percept Live and A.R. Rahman Set to Create History with the Global Premiere of ‘The Wonderment Tour’ at DY Patil Stadium
Entertainment

Percept Live and A.R. Rahman Set to Create History with the Global Premiere of ‘The Wonderment Tour’ at DY Patil Stadium

04/07/2025
Life Care News
Facebook Twitter Youtube Rss Medium

Life Care News:


We increase the awareness of millions of users through our news networks. We are one of the most trusted news networks in the world.

Top Categories
  • Home
  • Business
  • News
  • Tech
  • Health
  • Sports
  • Entertainment
  • Automobile
Usefull Links
  • About Us
  • Contact Us
  • Terms and Conditions
  • Privacy Policy
Copyright © 2015 – 2025 LifeCareNews Network. All Rights Reserved. LIFE CARE IS REGISTERED MAGAZINE IN RNI, NO.GUJGUJ/2015/71283
Life Care NewsLife Care News
Copyright © 2015 - 2025 LifeCareNews Network. All Rights Reserved. LIFE CARE IS REGISTERED MAGAZINE IN RNI, NO.GUJGUJ/2015/71283
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?