Fobi Wallet Pass For Ticketing And Global Fan Engagement Powers bdG Sports “Baha Mar Hoops” Tournament Featuring 19 NCAA Men’s And Women’s Basketball Teams, Including US Thanksgiving Nationally Televised Events

VANCOUVER, British Columbia., July 29, 2021 (GLOBE NEWSWIRE) -- Fobi AI Inc. (formerly Loop Insights Inc.) (TSXV: FOBI) (OTCQB: FOBIF) (the "Company" or "Fobi"), is pleased to announce it will once again be supporting bdG Sports for college basketball’s largest early season event. The invite-only global event at Baha Mar Convention Center in Nassau, The Bahamas will take place from November 22-27, 2021 and will use Fobi’s Wallet Pass platform for ticketing, admission, and fan engagement both live and at home. Fobi will earn significant revenue from this event through the event license, ticket fees and fan activations both live and at home, including nationally televised and digital audiences across the United States on Thanksgiving weekend, where Fobi’s new logo and messaging will be visible on signage at the game carried on CBS.

FOBI WALLET PASS WILL SUPPORT 19 TEAMS, STAFF, LIVE ATTENDEES AND GENERATE ENGAGEMENT WITH LIVE AND AT HOME AUDIENCES

bdG Sports, a global leader in producing college basketball content, will bring 19 NCAA men's and women's basketball teams to Baha Mar. The $4 billion resort, which boasts three world-class hotels - the Grand Hyatt Hotel, a Rosewood and an SLS, along with the largest casino in the Caribbean – will play host to three separate events:

LIVE EVENTS

1. The week tips off with eight men’s NCAA Division I institutions vying for the “Baha Mar Hoops Nassau Championship,” led by top seeds Toledo, Drexel and 2021 NCAA Tournament “Cinderella” Abilene Christian.

2. Seven of the nation’s best women’s programs then take the court later in the week in the “Baha Mar Hoops Pink Flamingo Championship,” including four top-10 programs, led by defending national champion Stanford, NC State, Indiana and Maryland.

LIVE AND NATIONALLY TELEVISED EVENTS FOR DIGITAL FAN ENGAGEMENT ACROSS THE UNITED STATES

3. On Thanksgiving Day, Nov. 25 and Nov. 27, a men’s four-team “Baha Mar Hoops Bahamas Championship” will feature Louisville, Maryland, Mississippi State and Richmond.   The men’s top-tier event will be televised nationally throughout the United States, with its semifinals on Thanksgiving night, providing Fobi with the opportunity to showcase the power of both its venue management and digital engagement platform for the at home audience.

bdG Sports CEO Brooks Downing stated: “Fobi has been instrumental in its ability to help us deliver events and engage with fans in new ways throughout the pandemic. Now that conditions throughout North America have improved and we look to return to near normal conditions, we still must be diligent in our efforts to keep both our fans and our participants safe, while providing new options to maximize sales to our corporate partners. Fobi’s wallet pass is a one-stop solution to make all that happen. For us, we are thrilled to keep Fobi fully engaged in all that we do in our return-to-play efforts.”

Fobi CEO Rob Anson stated: “We have seen great success with bdG at the NCAA and professional golf events over the past year and helped them to achieve record engagement rates. As a result of this success, Fobi has now been given the opportunity to incorporate our ticketing and admissions capabilities to the offering. Our continued work with bdG and the addition of new services goes to show the trust in Fobi and our ability to deliver excellent service, as well as our confidence that we can top our previous successes with this integrated solution. We look forward to seeing this relationship continue to grow with bdG and the NCAA.”

WALLET PASS USE EXTENDED TO TICKETING, IMPROVING THE CUSTOMER EXPERIENCE AND GENERATING REVENUE FROM TICKET SALES, FAN ENGAGEMENT AND POTENTIAL DIGITAL SPONSOR ACTIVATIONS

For this event, Fobi’s Wallet Pass will be used for ticketing to significantly improve the customer experience by allowing fans to use their Wallet pass to gain access to the arena. Specifically, Fobi’s Wallet pass will pop up on their phones as fans get close to the event, making it a smooth, trouble free and contactless access and entry solution. Ticketing will generate revenue for Fobi by earning a percentage of each ticket sold by bdG Sports.

With fans live in attendance, the company’s Wallet pass technology will provide revenue share opportunities through its previous affiliate marketing agreement. Fobi will further benefit from a negotiated event license, various event sponsorships, and marketing applications to be delivered on the Fobi platform, as well as additional user fees that will be generated through user pass downloads.

With fans at home, Wallet pass will provide significant fan engagement revenue opportunities, as well as potential digital sponsor activations.

Finally, Fobi’s technology will help open new revenue channels and support local Bahamian businesses and third-party sponsorships as well as targeted promotions and sponsor opportunities for the schools attending.

RELATIONSHIP WITH bdG SPORTS CONTINUES TO SHOWCASE FOBI’S EXTENSIVE VENUE MANAGEMENT OPPORTUNITY WITH PREVIOUSLY ANNOUNCED SELECTIONS AND POTENTIAL UPCOMING EVENTS

Baha Mar Hoops is just one of bdG’s many significant events slated for the new college basketball season launching in November. Fobi continues to work with the bdG team with similar events in Naples, Fla., Fort Myers, Fla, and Las Vegas.

Fobi is already powering the “Black Friday Heavyweight Bout” featuring Duke versus Gonzaga, which recently sold out, as well as, the Roman Main Event featuring Michigan, UNLV, Arizona, and Wichita State, both of which are taking place at T-Mobile Arena in Las Vegas. The press release announcing these wins can be found here.

The Fobi activation with Baha Mar Hoops follows the successful deployment of its venue bubble solution at previous NCAA basketball tournaments including the #BeachBubble at the Gulf Coast Showcase in Fort Myers, Fla., last November and the Big West Conference Championships at Mandalay Bay in Las Vegas in March where Fobi provided 14 check-in locations that provided venue management services for more than 550 student-athletes, coaches, and staff members at the two tournaments.

This Press Release Is Available on the Fobi Website and the FOBI Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement.

About bdG Sports

bdG Sports is a representation, event management, and public relations firm operating on an international platform within the sports marketing industry. bdG manages multiple college basketball and college hockey events across North America and the Caribbean, highlighted by tournaments in Southwest Florida, Las Vegas and The Bahamas as well as two Korn Ferry Tour events and a series of premium golf pro-am events. For more information, visit www.bdglobalsports.com or follow on @bdGlobalSports on Twitter, Facebook or Instagram.

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
.

For more information, please contact:

Forward-Looking Statements/Information:
This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company 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 plans, operations, 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, the Company 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 the Company should be considered highly speculative. There can be no assurance that the Company 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) accepts responsibility for the adequacy or accuracy of this release.