Genius Group announces the issuance of $33 million in equity to increase Bitcoin reserves

2025-01-14 22:53:21

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ChainCatcher news, according to Globenewswire, the artificial intelligence company Genius Group (NYSE American: GNS) announced that its board of directors has approved a plan to continue a $33 million equity offering, with 100% of the net proceeds from the offering to be used to purchase Bitcoin for the company's Bitcoin treasury.

In addition, the company also plans to seek one or more additional loan financings, with a total amount of up to $20 million. If the company successfully raises the maximum amount in the equity offering and additional loans, its Bitcoin reserves will increase from approximately $35 million in Bitcoin to $86 million in Bitcoin.

The company will hold a live webcast and investor conference call on January 15, 2025, to discuss the equity offering.

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