Genius Group cancels $7.5M ATM financing agreement

Genius Group has cancelled the agreement for its previously announced at-the-market financing transaction with Global Corporate Finance for up to US$7.5M 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." 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.