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VANCOUVER, BC, April 02, 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 Asahi Canada, a subsidiary of Asahi International Limited. Their portfolio, renowned globally, boasts premium brands including, Asahi Super Dry, Grolsch, Peroni Nastro Azzurro, Pilsner Urquell, and more.

Rob Anson, CEO of Fobi AI, emphasizes: "Operators don't need more data; they require plug-and-play tools like the Fobi Data Exchange. This empowers them to leverage and automate their data effectively, unlocking its full potential for monetization. The ability to make real-time decisions on the fly is unprecedented in the beverage alcohol industry. Fobi AI takes great pride in collaborating with a global beverage company that has a long-standing history of over 100 years in operations."

FOBI'S REAL-TIME ANALYTICS TO PROVIDE ASAHI CANADA WITH IN-DEPTH MARKET INSIGHTS & ENABLE DATA-DRIVEN DECISIONS

Under this agreement, Fobi will provide Asahi Canada with a fully automated data intelligence tool, offering real-time analytics, insights, and forecasting capabilities. This data will enhance visibility into the competitive landscape, enabling the company to make informed decisions that drive profitability and foster continued growth.

The beer industry continues to face increasing competition from alternative beverage categories such as wine & ready-to-drink (RTD) beverages. In response to this challenge, brands and manufacturers must make faster, smarter, data-driven decisions to identify gaps and opportunities in their business landscape. Fobi's fully automated dashboard offers real-time insights down to the city and region level, allowing brands to pinpoint market gaps and uncover new opportunities. This empowers them to optimize resource allocation and marketing strategies, ultimately maximizing profitability.

Fobi's custom dashboard will enable Asahi Canada to build detailed customer profiles based on demographics, purchase history, and spending patterns. This allows a deeper understanding of consumer behavior and market trends across both retail and industry levels. By leveraging Fobi's actionable insights, Asahi Canada can make faster, smarter, data-driven decisions to optimize operational strategies and ensure ongoing success in today's dynamic beverage industry.

Colin Foley, Director of Field Sales at Asahi Canada, states: "We're super excited to be partnering with Fobi to power our analytics and insights in the private channel in Western Canada. Gaining visibility to the competitive marketplace in the private channel will be instrumental to expanding our business in Western Canada and driving growth as we move forward. We're super excited to be working with Fobi as we continue to build and grow profitable and mutually beneficial partnerships with our retail partners in BC."

David Nicholls, VP of Liquor Beverage at Fobi AI, states:
"Many breweries have been operating in the dark with very little light to guide their way on roads that are becoming increasingly challenging. By providing Asahi with a fully automated analytics platform, they will have the power to make stronger data-driven decisions and the ability to act in real-time. This winning combination will support their growth ambitions and success in Canada."

This press release is available on the Fobi website.

To download the Fobi Investor Experience Wallet Pass to get enhanced access to investor information about Fobi, please visit our Investor Experience page.

About Asahi Canada
Asahi Canada, a subsidiary of Asahi International Limited, is responsible for the distribution of Super Premium Beer brands in Canada. With a commitment to revitalizing the beer category through strategic distribution and innovative marketing, Asahi Canada aims to stay ahead of the competition in today's dynamic market landscape. For more information, please visit https://www.asahiinternational.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.

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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.