Fobi AI Announces CFO Transition, Taps Long-Tenured Board Member Jeffrey Hyman as CFO

VANCOUVER, B.C., July 14, 2025 (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 customer activation and engagement, today announces it is restructuring its finance team and longtime board Member Jeffrey Hyman will step in as the Company’s Chief Financial Officer (CFO), effective immediately.

The decision to bring in new financial leadership reflects the company’s commitment to transparency, accountability, and long-term sustainable growth. Hyman, a veteran finance executive with decades of experience in financial transformation, restructuring, and strategic scaling, joins Fobi at a pivotal moment as it positions itself for the next chapter of expansion.

Fobi CEO Rob Anson stated: “During this year 's audit, we identified significant needs for change and upgrades within our accounting function. Now that the sale of our German subsidiary is complete, our priority is finalizing the audit and resuming trading as quickly as possible. Given this focus, I felt it was the right time to bring Jeff on as CFO. His background makes him ideal to lead the audit process and restructure our ongoing Finance functions.  We have engaged a third-party accounting firm to assist with the audit and handle all daily accounting tasks. This partnership allows us to implement new automated systems and processes, significantly improving efficiency. Utilizing this full-scope third-party firm also enables us to reduce full-time headcount while gaining access to scalable expertise as needed. "

CFO, Jeffrey Hyman stated: “FOBI’s vision and capabilities have been evolving in alignment with the marketplace since my initial involvement with the Company. We are well positioned to leverage those assets in due course. I am thankful for the appointment to lead our finance team as an integral function in our growth.”

This Press Release Is Available On the Fobi Website, For Shareholder Discussion and Management Engagement

About Fobi

Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi’s unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.

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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.

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