VANCOUVER, BC, March 1, 2023, 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 the appointment of Colby McKenzie as Chief Revenue Officer (CRO). The new addition will further accelerate the company’s growth and help realize its expected earnings potential.

McKenzie is a skilled senior executive with a proven track record of accelerating business growth and development. Most recently, he was the co-founder of venture-backed startup Enlighten, a leading canntech company for both retail and adtech solutions that served over 1,500 clients. In 2022, Enlighten made a successful exit to Weedmaps where he played an instrumental role as Vice President and GM to launch and scale Weedmaps’ off-platform advertising solutions.

McKenzie also brings expertise in corporate development and inorganic growth and will focus on advancing Fobi’s M&A, strategic licensing and joint venture initiatives this year. Prior to his career as an operator, McKenzie worked as an M&A attorney at Weil, Gotshal, and Manges LLP before launching his own venture-focused private equity fund, McKenzie Ventures. There, he worked closely with companies in a wide array of industries including digital media, adtech, mobile apps, IoT, health and wellness, cannabis, food/service, financial services, and commercial real estate to fund and scale their creative expansion strategies. With an extensive background in helping companies drive growth and increase revenue, McKenzie brings diverse experience and expertise that will help support Fobi in its next chapter of revenue generation.

Colby McKenzie, CRO of Fobi, states: “As someone who has made a career trying to stay ahead of the curve in emerging industries and emerging technologies, I was immediately drawn to the Fobi story. I think the technologies that Rob and his team have built are the perfect solutions for a society that is now mobile-first. I look forward to finding ways to help monetize these forward-thinking products.”

Rob Anson, CEO of Fobi, states: “Colby’s experience driving growth and revenue at emerging companies in tech and several other industries makes him the perfect fit for the CRO role. As we focus on scaling our platforms and applications, Colby is another strategic addition to our senior management team and will be a key piece to enhancing Fobi’s revenue growth.”

This press release is available on the Fobi website.

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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. We enable businesses to action, leverage, and monetize their customer data by powering personalized and data-driven customer experiences, and drive 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.

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