MoneyOnMobile, Inc. announced that it has entered into a subscription agreement for a private placement of 1,666 series H convertible preferred shares at a price of $3,000 per share and a warrant for gross proceeds of $4,998,000 on January 31, 2018. The transaction will involve participation from CJSC S7 Group. Pursuant to the transaction, Gordienko Oleg and Max V. Shcherbakov will join the board of directors of the company. The warrant will have an exercise price of $0.50 per share and will be exercisable into 3,332,000 shares of common stock of the company. The company will issue a five year warrant to both individuals joining the board of directors of the company to purchase 200,000 shares at an exercise price of $0.66 per share.