PANews reported on January 14 that according to Globenewswire, artificial intelligence company Genius Group (NYSE American: GNS) announced that its board of directors has approved a plan to continue a $33 million rights issue of the company's common stock. 100% of the net proceeds from the rights issue will be used to purchase Bitcoin for the company's Bitcoin treasury.

In addition, the company plans to seek one or more additional loan financings totaling up to $20 million. If the company successfully raises the maximum amount in the rights issue and additional loans, the company's 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 Rights Offering.