Verses AI Inc. Closes Non-Brokered Private Placement Offering

Verses AI Inc. has closed a non-brokered private placement offering of 1,170,807 units at C$0.75 (US$0.55) per unit. The offering raised gross cash proceeds of C$745,805 (approximately US$547,644) through the issuance of 994,407 units, and extinguished C$132,300 (approximately US$97,148) in liabilities through the issuance of 176,400 units. Each unit consists of one Class A Subordinate Voting Share and one-half of a share purchase warrant. The warrants are exercisable at C$1.00 per share within 24 months. The net proceeds will be used to strengthen the Company’s financial position, finance operations including research and development, and for working capital and general corporate purposes. The company also paid aggregate cash finders’ fees of C$16,160 and issued 75,546 finder warrants. All securities are subject to a statutory hold period of four months plus a day. Michael Blum, chairman of the board, subscribed for 53,333 units.