Genius Group Ltd. (GNS), an AI-powered, Bitcoin-first education group, announced Tuesday that it has signed a binding asset purchase agreement with Entrepreneur Resorts Ltd or ERL for the purchase and re-integration of ERL's entrepreneur cafs and resorts.
Following the deal, Genius Group has lifted its revenue guidance by 50% to $15 million to $18 million for 2025 from previously expected $10 million.
The shares were gaining around 3% in the early morning trade. ERL had previously been a part of Genius Group and was spun off in September 2023.
Under the deal, Genius Group is purchasing ERL's revenue generating operations in Singapore, Indonesia and South Africa, expected to increase from approximately $5 million to $6 million in revenue in 2025.
The asset purchase is an all-share deal, in which the company will pay ERL 50 million shares of Genius Group, currently valued at $21.5 million based on the per share on June 9.
Once registered, ERL shareholders will receive shares in Genius Group equivalent to 3 GNS shares for each ERL share.
Genius Group will also provide debt financing of $1 million to ERL for improvements related to the acquisition, and to rebrand ERL as Genius Resorts as part of the Genius City model.
Closing is subject to approval to all regulatory requirements. The deal is expected to expand its Genius City model.
ERL operates its entrepreneur caf and resort model in Singapore, South Africa and Bali, Indonesia, combining co-working, retreats and accelerators in paradise locations.
Over the last two years, Genius Group has evolved its business model, with the highest revenue growth potential coming from its high-tech, high-touch Genius City model.
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