Fobi Signs LOI to Acquire Passworks, a Portugal Based Leading European Digital Wallet and Mobile Marketing Company With Tier-1 Global Clients

VANCOUVER, British Columbia., Dec. 08, 2021 (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 customer activation and engagement, is pleased to announce the Company has entered into a non-binding LOI to acquire 100% of the shares of Passworks, a leading European digital wallet and mobile marketing company with Tier-1 clients such as luxury fashion leader Hugo Boss, global coupon giant Catalina and media giant Wunderman Thompson UK. The acquisition will be a share purchase agreement, and is expected to be completed by late December or early January of 2022, subject to the customary due diligence and Exchange approvals. The exact terms of the acquisition are still being negotiated. Read More