Company: RIV
Filing Date: 2025-09-05
Form Type: N-CSR
Source: 0001398344-25-017710
Chunk: 87

Company: RIVERNORTH OPPORTUNITIES FUND, INC.
Filing Date: 2025-09-05
Form: N-CSR
Chunk 87
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 carry with them the right to dividends or voting rights with respect to the securities that they entitle their holder to purchase and they do not represent any rights in the assets of the issuer. The value of a warrant does not necessarily change with the value of the underlying securities and a warrant ceases to have value if it is not exercised prior to its expiration date.

Portfolio Manager Information

Since the prior disclosure date, there have been
no changes in the Fund’s portfolio managers or background.

Fund Organizational Structure

Since the prior disclosure date, there have been
no changes in the Fund’s charter or by-laws that would delay or prevent a change of control of the Fund that have not been approved
by stockholders.

| 84 | www.rivernorth.com |

RiverNorth Opportunities Fund, Inc.

The following table provides information regarding each Director who
is not an “interested person” of the Fund, as defined in the 1940 Act.

INDEPENDENT DIRECTORS

| Name, Address1 and Year of Birth | Position(s) Held with the Fund | Term of Office and Length of Time Served             | Principal Occupation(s) During Past 5 Years                                                                                                                                                                   | Number of Funds in Fund Complex Overseen by Director2 | Other Directorships Held by the Director During the Past 5 Years |
| John K. Carter                   
 (1961)                           | Director                       | Current term expires in 2027. Has served since 2013. | Founder, Special Counsel, Law Office of Osprey Law Firm P.A. (formerly known as the Law Office of John K. Carter P.A.) (a general practice and corporate law firm) (2015 to present).                         |                                                    11 | Carillon Mutual Funds (15 funds) (2016 to present).              |
| J. Wayne Hutchens                
 (1944)                           | Director                       | Current term expires in 2025. Has served since 2013. | Currently retired; Trustee of the Denver Museum of Nature and Science (2000 to 2020); Director of AMG National Trust Bank (June 2012 to present); Trustee of Children’s Hospital Colorado (May 2012 to 2020). |                                                    11 | ALPS Series Trust (11 funds) (2012 to present).                  |
| Lisa B. Mougin                   
 (1972)                           | Director                       | Current term expires in 2027. Has served since 2022. | Chief Investment                                                                                                                                                                                              
 Officer of Capital Sisters