Recruiter.com Ignites a New Era of AI-Powered Growth with Strategic Corporate Restructuring and Anticipated Acquisition of GoLogiq Fintech Assets

Strategic acquisitions, new leadership, and AI-powered solutions pave a robust path towards sustainable growth.

NEW YORK, NY / ACCESSWIRE / June 7, 2023 / Recruiter.com Group, Inc. (NASDAQ:RCRT)(NASDAQ:RCRTW) ("Recruiter.com" or the "Company"), a recruiting solutions provider, today announced a comprehensive strategic reorganization designed to streamline operations and enhance stakeholder value.

Strategic Acquisition and Spin-off

The Company has announced a definitive agreement ("Agreement") for a planned purchase of the fintech assets of GoLogiq, Inc. (OTC:GOLQ) ("GoLogiq"), a U.S.-based global innovator of fintech and consumer data analytics.The Agreement values the combined companies at approximately $105 million, with existing Recruiter.com shareholders maintaining approximately 16%. Recruiter.com will continue to be listed on the Nasdaq Capital Market and plans to change its name to a name and branding that would reflect the new fintech focus of the combined company. Concurrently, Recruiter.com's existing operating business, assets, and liabilities are planned to be spun off into a new entity focused on artificial intelligence-related businesses in the work technology sector, publicly quoted on the OTC Market ("AI Company"). Shareholders of record as of the record date ("Shareholders") will then hold two securities - Recruiter.com and the AI Company.

"Successfully growing from $8M revenue in 2020 to $25M in 2022, Recruiter.com now prepares to bifurcate into two distinct public entities," stated Evan Sohn, CEO of Recruiter.com. "This strategic response allows the Nasdaq listing to converge with GoLogiq's fintech operations, while Recruiter.com's growth and AI-related operations transition to the OTC Markets. This significant move sets the stage for Shareholders to be a part of two promising ventures in next-generation financial and workforce technologies."

Groundbreaking AI Technology and Strategic Initiatives

Recruiter.com has recently launched a suite of innovative products related to AI and ChatGPT. These include the Candidate Pitch software, designed to supercharge recruiters' efficiency by instantly creating summaries of job applicants, and a unique learning experience called Recruiting with ChatGPT, which upskills recruiters in using emerging generative technologies.

Additional strategic initiatives include leveraging the engagement of the Company's 1.1-million-member LinkedIn group, the Artificial Intelligence Exchange, a specialized forum for discussions on AI, to bring attention to the Company's products and services.