VERSES® Closes $7.9 Million Public Offering, Equivalent to $11.0 Million

VERSES AI Inc., a cognitive computing company specializing in next-generation intelligent software systems, recently closed a public offering that raised approximately US$7.9 million (C$11.0 million). The offering consisted of 2,750,000 units of the company at a price of US$2.88 (C$4.00) per unit.

Each unit included one Class A Subordinate Voting Share of the company and one-half of one Share purchase warrant. The warrant allowed the holder to purchase one Share of the company at an exercise price of US$3.60 (C$5.00) per warrant share within 36 months from the date of issuance. The offering was facilitated through an agency agreement between the company, A.G.P. Canada Investments ULC, Clear Street LLC, and A.G.P./Alliance Global Partners.

The net proceeds from the offering will enhance the company’s financial position and provide liquidity for ongoing operations, research and development initiatives, and general corporate purposes. A.G.P. Canada Investments ULC, Clear Street LLC, and A.G.P./Alliance Global Partners played key roles in executing the offering and will receive commissions and compensation warrants based on the gross proceeds of the offering.

The offering was completed in accordance with a prospectus supplement filed with the securities commissions in Canada and the U.S. Securities and Exchange Commission. The company’s shares are trading on the Cboe Canada exchange under the symbol “VERS” and on the OTCQB under the symbol “VRSSF.”

VERSES AI Inc. aims to develop intelligent software systems inspired by the principles of science, physics, and biology. Their flagship product, Genius™, offers machine learning tools to model complex systems and create autonomous intelligent agents. With a vision of creating a Smarter World through technology inspired by Nature, VERSES invites interested individuals to learn more on their website, LinkedIn, and other platforms.

In conclusion, the successful public offering has provided VERSES AI Inc. with the necessary funds to drive innovation, research, and development in the field of cognitive computing. The company’s commitment to advancing intelligent software systems reflects their dedication to creating a future that harnesses the power of technology inspired by natural principles.