Company Announcements

The partnership will provide Red Truck Beer Company with a fully automated analytics dashboard to gain real-time visibility into consumer preferences, purchase behaviour, and market dynamics.

VANCOUVER, BC, April 30, 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 Red Truck Beer Company, one of BC’s top producing craft breweries. Through this partnership, Red Truck gains access to a fully automated data intelligence tool, offering real-time, actionable insights into consumer behaviour and market trends. Fobi’s Data Exchange will position the brewery for sustained growth in a dynamic and evolving market landscape.

Rob Anson, CEO of Fobi AI, states: “Our primary objective has consistently been to develop a product that empowers business operators to thrive in a competitive environment by being agile and adaptable. With the Fobi Data Exchange, we offer businesses the opportunity to unlock, leverage, and monetize their data. This enables them to optimize their portfolio management and improve operational efficiencies, ultimately helping them stay ahead of the curve.”

To ensure ongoing growth in the beverage industry, brands must continually reevaluate their market position, identify fresh targets and set their sights on a new competitive set. However, to do so effectively, breweries must overcome the obstacle of fragmented data sources and siloed information within the retail store environment. By leveraging Fobi’s Data Exchange, brands can navigate the complexities of modern consumer behaviour and market dynamics with full visibility, moving away from traditional, instinct-driven approaches and embracing informed, data-driven decision-making.

Red Truck Beer Company is one of BC’s fastest-growing craft breweries. What started out as a single brewpub in North Vancouver in 2005 is now a beloved craft brand with loyal fans spanning BC and Alberta. In 2019, the brewery expanded its portfolio beyond beer by entering the Ready To Drink (RTD) with REMIX Vodka Soda and recently launched OCASO Tequila Sodas. By entering the emerging RTD market, the brewery has sourced an additional stream of revenue and expanded its customer reach–requiring a different commercial understanding and approach.

To excel in the competitive landscape, Red Truck must make faster, smarter, data-driven decisions. Fobi's fully automated Data Exchange platform provides brands like Red Truck Beer with the ability to build detailed customer profiles based on demographics, purchase history, and spending patterns. With Fobi’s customized analytics dashboard, Red Truck can tailor its product development, marketing campaigns, and engagement initiatives to meet customer expectations better.

By leveraging Fobi's real-time, actionable insights, Red Truck can remain agile and responsive in an increasingly competitive landscape, enabling faster, smarter decision-making to navigate the dynamic landscape of consumer and market trends.

David Nicholls, VP of Liquor Beverage at Fobi AI, states: “It’s been exciting to watch Red Truck Beer Company grow over the years, continuing to pivot and take advantage of opportunities. Our new partnership will help them see opportunities that were previously not on their radar due to data limitations. Our Data Exchange provides clarity to their position in the market, where to attack and where to defend. With a detailed understanding and aggregation of transactions in the millions, the Data Exchange offers unparalleled access to incredible observations and insights into key market trends.”

Ryan MacBean, Sales Manager of Red Truck, states: “With Fobi AI, I am hoping we can gain a deeper understanding of our customer’s needs, behaviors, and preferences. This excites us because it enables us to tailor our products and services to better meet customer expectations, fostering stronger relationships and loyalty.

We are looking forward to leveraging Fobi AI providing us a competitive advantage over other businesses within our industry. By harnessing data-driven insights, we will be able to identify emerging trends, anticipate market shifts, and capitalize on opportunities before our competitors do, giving us a significant edge in the industry.

Fobi AI will assist us in insightful decision-making, providing comprehensive insights derived from accurate and real-time data analysis. This newfound clarity excites us as it will allow us to be more informed and make better strategic choices.”

This press release is available on the Fobi website.

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About Red Truck Beer Company

Founded in 2005, Red Truck Beer Company is one of BC’s premier craft breweries, winning numerous awards for its outstanding, carefully brewed beers. Built on the values of a simpler time, when a handshake was a contract and beer was always brewed honestly, by everyday, hard-working people. Red Truck has grown from humble beginnings in its original North Vancouver location, to a new state-of-the-art brewery in the heart of Brewery Creek minutes from downtown Vancouver.

Red Truck Beer Company has been delivering an extensive line of quality, award-winning beers including Red Truck Ale, Red Truck Lager, Red Truck IPA, Red Truck ISA, and our limited selection series. For more information, please visit redtruckbeer.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.

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

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.

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