GROM SOCIAL ENTERPRS WTS - GROMW STOCK NEWS

Grom Social Enterprises, Inc. (NASDAQ: GROM; GROMW) announced a securities purchase agreement to raise approximately $3.0 million through a private placement of 1,327,434 shares of common stock and 2,323,010 warrants. The effective purchase price is set at $2.26 per share. The closing is anticipated on January 27, 2023, subject to customary conditions. The funds will support general working capital and administrative needs. The securities will only be offered to accredited investors and will not be registered under the Securities Act, necessitating subsequent registration with the SEC for resale.

Grom Social Enterprises (NASDAQ: GROM) announced that its subsidiary, Top Draw Animation, secured approximately $1,500,000 in new animation production contracts. This news, reported by Top Draw’s President Russell Hicks, follows earlier announcements of additional assignments this year. Top Draw has over 400 animation professionals, building on its reputation for premium production services over 20 years. This acquisition enhances Grom's offerings, including a safe social media platform for kids and web filtering services for educational institutions.

Grom Social Enterprises, Inc. (NASDAQ: GROM) announced its subsidiary, Top-Draw Animation (TDA), signed a contract with an international programming supplier, expected to generate an additional $950,000 in revenue. This deal strengthens TDA's production capabilities in Manila, known for delivering quality animated content for over 20 years. Top Draw aims to enhance its animation offerings as they seek to engage viewers effectively. The company continues to focus on providing safe digital environments for children through its various subsidiaries.

Grom Social Enterprises has announced the launch of The Legion of Forgettable Supervillains, a new graphic novel franchise developed by Curiosity Ink Media in partnership with Dynamite Entertainment. Set to release in 2022, the story revolves around a group of unsuccessful superheroes who achieve fame as villains. This franchise aims to expand into media adaptations, merchandise, and future brand opportunities. The collaboration with Dynamite is expected to bring innovative storytelling to audiences, tapping into the rising trend of anti-hero narratives in pop culture.

Grom Social Enterprises (NASDAQ: GROM) has announced the development of a new animated musical series, Aloha Hoku, targeting preschoolers. Created by YouTube star Honoka Katayama, this series features Hoku, a Hawaiian girl who embarks on magical adventures. Curiosity Ink Media, part of Grom Social, aims to enrich children's experiences through authentic storytelling and cultural representation. The series encourages problem-solving through songs, with Hoku using her magical ukulele. This initiative reflects Grom's growing focus on original family entertainment.

Grom Social Enterprises' subsidiary, Top Draw Animation (TDA), has secured an additional $1.0 million in animation production work, enhancing its services for global entertainment brands. Under the leadership of Russell Hicks and Jared Wolfson, TDA's commissioned projects are already in progress at its Manila studio. Established in 1999, TDA boasts a robust portfolio, having produced over 2,000 hours of animated content. TDA's work aligns with Grom's offerings, which include safe children's social media and original family entertainment through Curiosity Ink Media.

Grom Social Enterprises (NASDAQ:GROM) has announced an increase in its private placement of convertible notes and warrants. Originally set at $1.5 million, the second investment from L1 Capital will now reach up to $6 million, totaling gross proceeds of $10.4 million. The funds will be used for joint ventures, acquisitions, and general corporate purposes, pending shareholder approval. The company aims to enhance its family-friendly social media platform for children under 13, improving engagement and expanding its entertainment offerings.

Grom Social Enterprises (NASDAQ: GROM) announced that its subsidiary, Top Draw Animation, has begun production on about $1.0 million in new projects in Manila. This includes two animated TV series aimed at boosting the studio's output. The leadership team, including newly appointed President Russell Hicks, emphasizes the growing demand for animated content. With over 400 artists in a 37,000 sq. ft. facility, Top Draw has produced over 2,000 half hours of animation. The studio is also ensuring safety protocols for Covid-19 as it welcomes back personnel.

Grom Social Enterprises (NASDAQ: GROM) announced that its subsidiary, Curiosity Ink Media, is developing a new original franchise called The Pirate Princess. Slated for a Fall 2022 debut as a graphic novel, it aims for global distribution and will expand into films and consumer products. The project is led by Chief Content Officer Russell Hicks, who emphasized its emotional connection and timeless moral messages. The company continues to expand its portfolio, with ongoing projects like Baldwin's Big Adventure and collaborations with publishers, enhancing its position in family entertainment.