Fobi AI Added To S&P/TSX Venture Composite Index

VANCOUVER, B.C., Oct. 28, 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, is very proud to announce its addition to the S&P/TSX Venture Composite Index (“Index”), a benchmark index representing selected TSX Venture listed companies that meet qualifying metrics.

The Index is a broad market capitalization-based index which is designed to measure the performance of securities listed on the TSX Venture Exchange, Canada’s public venture capital marketplace.

Inclusion in the S&P/TSX Venture Composite provides Fobi with the potential to widen its investor base by opening it up to index funds and similar types of investment instruments.

Rob Anson, CEO of Fobi AI stated “The addition of Fobi to the Index is another great milestone for the Company and its shareholders. In a year that has challenged the world’s biggest companies, this serves as great validation of the hard work and careful planning we have put into both the operations and capital markets side of Fobi to deliver outstanding relative success versus all of our peers. From a practical point of view, portfolio managers will now need to add the index weighted amount of shares of Fobi in their portfolios – and continue to add shares to maintain weighting as their assets under management grow – which should benefit the liquidity of our stock for the foreseeable future. Congratulations to all of our loyal shareholders for their belief in Fobi. The best is yet to come.”

The S&P/TSX Venture Composite Index is maintained by the S&P/TSX Canadian Index Committee, which is composed of four members representing S&P Indices and three members representing the Toronto Stock Exchange. Fobi was notified of its addition to the Index by the TSX Venture Exchange as of October 24th, 2022.

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