CFO Succession Plan for Fobi AI

Fobi AI Inc. (FOBI: TSXV) (FOBIF: OTCQB) has announced the resignation of Jason Tong, its Chief Financial Officer, who intends to pursue a new opportunity. Mr. Tong will remain engaged with the Company as a consultant until January 31, 2024, aiding in the finalization of the Company’s audited annual financial statements for the year ended June 30, 2023 (the “Annual Filings”), the associated management’s discussion and analysis, and the Q1 2024 interim financial statements along with related disclosures (the “Q1 Filings”).

Mr. Tong provided his services to Fobi through a third-party CFO firm, of which he is a principal, offering fractional CFO services to various organizations. Additionally, the Company has decided to postpone its Annual General and Special Meeting scheduled for December 29, 2023 (“AGM”).

To fill the CFO role, the Company has appointed Mark Lotz, an experienced senior CFO with over thirty years of leadership, to assume the role immediately. Mr. Lotz has successfully collaborated with publicly listed growth-stage companies across various industries like SaaS, manufacturing, mining, technology, and financial services.

Furthermore, the Company has postponed its AGM as it continues to finalize and file its Annual Filings, essential for shareholder review at the AGM. Details about the rescheduled AGM will be communicated to shareholders in due time.

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