Video River Networks, Inc. announced that it expects to receive $2 million in funding from Triton Funds, LLC
June 29, 2021
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Video River Networks, Inc. announced that it has entered into a common stock purchase agreement with new investor Triton Funds, LP, a fund managed by Triton Funds, LLC for private placement of 200,000 class B shares at a price of $10 per share for gross proceeds of $2,000,000 on June 30, 2021. The company will also issue common share purchase warrants to the investor with valuation cap of $12,000,000. The company will pay administrative fees of $7,500 to investor upon execution of the agreement. The agreement shall expire on earlier of issuance of securities or June 30, 2022.
Tytan Cybernetics, Inc., formerly Video River Networks, Inc., is a holding company for electric vehicle technology, financial technology, artificial intelligence, robotics, drones and distressed assets. The Company is engaged in expanding its technology portfolio, which includes electric vehicles, artificial intelligence, machine learning and robotics (EV-AI-ML-R), with businesses and operations in North America and Asia. The Company is also focused on business opportunities within financial technology, artificial intelligence, health, sports and entertainment industries.