RENN Fund, Inc. Announces Receipt of Proceeds from Petrohunter Energy Corporation

Rhea-AI Summary

The RENN Fund, Inc. (NYSE MKT: RCG) announced it received $181,735.77 from the bankruptcy of Petrohunter Energy Corporation, previously valued at zero. The Fund may receive more funds, but Petrohunter will remain valued at zero until further information arises. The RENN Fund, with total net assets of $10.4 million, aims to provide above-market returns through diverse investments. Investors should carefully consider the Fund's risks, charges, and objectives before investing.

Positive

• Received $181,735.77 from Petrohunter bankruptcy, previously recorded at zero value.
• Potential for additional proceeds from Petrohunter may benefit the Fund.

Negative

• Petrohunter continues to be valued at zero during ongoing bankruptcy proceedings.
• Investment risks include possible loss of principal, affecting overall investor confidence.

NEW YORK--(BUSINESS WIRE)--The RENN Fund, Inc. (NYSE MKT: RCG) (the “Fund”) announced that it recently received proceeds of $181,735.77 from the bankruptcy case involving Petrohunter Energy Corporation (“Petrohunter”), a position in the Fund that has been valued at zero ($nil) since the beginning of Petrohunter’s bankruptcy proceedings.

While it is possible that the Fund may receive additional proceeds from the bankruptcy, Petrohunter will continue to be valued at zero ($nil) throughout the completion of bankruptcy or until additional information is known.

The RENN Fund, Inc. is a non-diversified, closed-end management company with $10.4 million in total net assets, whose primary investment objective is to provide shareholders with above-market rates of return through capital appreciation and income by investing in a wide variety of financial instruments.

Disclosures:

Investors should consider the Fund’s investment objective, risks, charges and expenses carefully before investing. The prospectus contains this and additional information about the Fund and the Offering, and investors should read it carefully before investing. For further information regarding the Offering, or to obtain a prospectus, please contact AST Fund Solutions at (800) 628-8509.

Fund shares are subject to investment risk, including possible loss of principal invested. No fund is a complete investment program and you may lose money investing in the Fund. An investment in the Fund may not be appropriate for all investors. Additional information about the Fund, including performance and portfolio characteristics, is available at https://horizonkinetics.com/investment-strategies/renn-fund-inc-nyse-rcg/.

Horizon Kinetics Asset Management LLC is the investment adviser to the Fund. For additional information about Horizon, please visit us at www.horizonkinetics.com.