FOBIF - Fobi announces acquisition of PassWallet an Android-based wallet pass issuer

Fobi AI (OTCQB:FOBIF +5.5%) signs an agreement on October 5th, 2021 to acquire PassWallet, a leading app for managing and utilizing Wallet passes on Android phones. PassWallet works with other leading Wallet pass companies and supports more than 150 countries where Google Pay is not supported. In consideration company will pay €888,000 consisting of: (i) €355,200 paid in cash; (ii) €532,800 in common shares of the company calculated by dividing €532,800 converted into Canadian funds. Combining the acquisition of PassWallet with the global strategic partnerships and alliances already announced by Fobi to date, the Company has an opportunity to pursue the unbanked digital wallet opportunity with some of the top payment companies in the world.

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Fobi announces acquisition of PassWallet an Android-based wallet pass issuer