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VERSES Announces Financing Agreement with a Notional Value of CAD$14 Million and Reduces Staff to Streamline Operations
VANCOUVER, British Columbia, Nov. 03, 2025 (GLOBE NEWSWIRE) -- VERSES AI Inc. (CBOE: VERS) (O...
About this update from Verses Ai Inc
[{"type":"text","content":"VERSES Announces Financing Agreement with a Notional Value of CAD$14 Million and Reduces Staff to Streamline OperationsFunding and operational initiatives are intended to strengthen balance sheet and focus on high-growth priorities\n\n\n\n VANCOUVER, British Columbia, Nov. 03, 2025 (GLOBE NEWSWIRE) --\n \n VERSES AI Inc.\n \n (CBOE: VERS) (OTCQB: VRSSF) (“\n \n VERSES\n \n ” or the “\n \n Company\n \n ”), a cognitive computing company pioneering next-generation agentic software systems, is pleased to announce that it has arranged a private placement with certain institutional investors (the “Private Placement”).\n \n\n Under the terms of the Private Placement, VERSES will receive a notional amount of CAD$14,000,000 in exchange for 2,333,334 Units at a price of CAD$6.00 per Unit, with each Unit consisting of one common share and one half of one (1/2) common share purchase warrant. Each warrant will be exercisable at a price of CAD$7.00.\n \n\n The Company expects to close the Agreement in one or more tranches. Closing of the Private Placement remains subject to approval of Cboe Canada Inc. The Company will provide further details of the Private Placement at the time of closing.\n \n\n VERSES has also initiated a workforce reduction program designed to strengthen liquidity, streamline operations, reduce costs, and increase operational efficiency across the organization. The program includes a combination of targeted reductions in force, furloughs, and executive salary deferrals, all aimed at strengthening the Company’s liquidity position and aligning expenses with revenue growth objectives.\n \n\n The combined effect of the financing and work force reduction will significantly reduce the Company’s cost structure, extend its cash runway, and enhance the focus on the commercialization of its flagship product, Genius™. Together, these actions are intended to position VERSES to accelerate its path to profitability and scalable long-term value creation.\n \n\n This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they ...