Genius Group Cancels US$7.5 Million ATM Financing Agreement
10 Februar 2023 - 1:00PM
Genius Group Limited (NYSE American: GNS) (“Genius Group” or the
“Company”), a leading entrepreneur edtech and education group, has
cancelled the agreement for its previously announced at-the-market
financing transaction (the “ATM Financing Commitment) with Global
Corporate Finance (the “Purchaser”) for up to US$7.5 million of
financing. On January 9, 2023, the Company signed a non-binding
term sheet for the ATM Financing Commitment with the purchaser.
Roger James Hamilton, CEO and founder of Genius
Group, said, “Our growth strategy continues to combine organic
growth and growth by acquisition, with financing for acquisitions
being raised when timely and beneficial for our shareholders.
However, after careful consideration, we do not believe this ATM
Financing Commitment is suitable for the company at this time.”
“We thank Global Corporate Finance for their
interest in Genius Group and hope we will have an opportunity to
partner with them some time in the future,” added Hamilton.
The ATM Financing Commitment was subject to
final due diligence and certain customary closing conditions, with
a definitive binding agreement expected within 30 days of January
9. The cancellation of the agreement is being made formally
following the lapse of the 30 days without a definitive binding
agreement being signed.
This press release will be filed as an exhibit
to a Form 6-K to be filed by the Company with the SEC on or around
February 10, 2023.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Genius Group
Genius Group is a world leading entrepreneur
Edtech and education group, with a mission to disrupt the current
education model with a student-centered, life-long learning
curriculum that prepares students with the leadership,
entrepreneurial and life skills to succeed in today’s market. The
group has a group user base of 4.3 million users in 200 countries,
ranging from ages 0 to 100.
Investor
Notice
Investing in our securities involves a high
degree of risk. Before making an investment decision, you should
carefully consider the risks, uncertainties and forward-looking
statements described in our most recent Annual Report on Form 20-F
for the fiscal year ended December 31, 2021, filed with the
SEC on May 13, 2022. If any of these risks were to occur, our
business, financial condition or results of operations would likely
suffer. In that event, the value of our securities could
decline, and you could lose part or all of your investment.
The risks and uncertainties we describe are not the only ones
facing us. Additional risks not presently known to us or that we
currently deem immaterial may also impair our business operations.
In addition, our past financial performance may not be a reliable
indicator of future performance, and historical trends should not
be used to anticipate results in the future. See "Forward-Looking
Statements" below.
Forward-Looking
Statements
Statements made in this press release include
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements can be
identified by the use of words such as “may,” “will,” “plan,”
“should,” “expect,” “anticipate,” “estimate,” “continue,” or
comparable terminology. Such forward-looking statements are
inherently subject to certain risks, trends and uncertainties, many
of which the Company cannot predict with accuracy and some of which
the Company might not even anticipate and involve factors that may
cause actual results to differ materially from those projected or
suggested. Readers are cautioned not to place undue reliance on
these forward-looking statements and are advised to consider the
factors listed above together with the additional factors under the
heading “Risk Factors” in the Company's Annual Reports on Form
20-F, as may be supplemented or amended by the Company's Reports of
a Foreign Private Issuer on Form 6-K. The Company assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events, new information or
otherwise.
For more information, please visit
https://www.geniusgroup.net/
Contacts
Investors:Flora Hewitt, Vice President of Investor Relations and
Mergers and AcquisitionsEmail: investor@geniusgroup.net
Media Contacts: Adia PREmail: gns@adiapr.co.uk
US Investors: Dave GentryRedChip Companies
Inc1-800-RED-CHIPGNS@redchip.com
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