RiskOn International (ROI) has released an update.
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RiskOn International, Inc. has entered into various agreements to restructure its financial instruments and expand its business on February 21, 2024. The company has amended its securities framework with existing holders, enabling an exchange of warrants and a sale of common stock, alongside facilitating a potential issue of $20 million in Series E Convertible Preferred Stock. In parallel, a licensing deal was struck with MeetKai, Inc. for the use of an AI platform, with payment structured through the issuance of Series E Preferred Stock. Additionally, the company is adjusting its governance following the resignation of director William Horne, who departed without any disputes regarding the company’s direction.
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