NASDAQ:GNUS   GENIUS BRANDS INTERNATIONAL INC
GNUS) announced today that it has entered into a securities purchase agreement with certain long-standing investors providing for the purchase and sale of 8 million shares of its common stock at a purchase price of $0.35 per share in a registered direct offering, resulting in total gross proceeds of $2.8 million.

Genius Brands intends to use the proceeds to fund production of additional episodes of its series, Rainbow Rangers, which will debut on Nick Jr. in conjunction with the launch of the toy line from Mattel , Inc. at Walmart stores Q3 2020. The Company will also apply the financing to grow its newly-announced digital network for children and families, Kartoon Channel!, which will launch in June 2020 with availability in over 100M U.S. television households.

Genius Brands said it has decided to launch Kartoon Channel following a “dramatic” increase in viewership of both Kid Genius Cartoon Channel and Baby Genius TV recently, and that the new rebranded network will significantly expand its distribution.

Kartoon Channel is now working with ad monetisation and content optimisation technology firm Dooya TV to grow ad sales among major cable providers such as Comcast, Cox, Dish and Sling TV.

Genius Brands’ current platforms include Dish, Amazon Prime, Sling TV, Comcast’s Xfinity On Demand, Roku, Apple TV, Apple iOs, Android, Cox, Tubi and Xumo. New platforms launching Kartoon Channel include SelectTV, RedBox, Plex and Canela Media.

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