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VERSES® Announces Closing of C$9,573,758 (US$7,000,331) Public Offering of Units
VANCOUVER, British Columbia, July 14, 2025 (GLOBE NEWSWIRE) -- VERSES AI Inc. (CBOE:VERS) (OTCQB:...
About this update from Verses Ai Inc
[{"type":"text","content":"VERSES® Announces Closing of C$9,573,758 (US$7,000,331) Public Offering of Units\n\n\n\n VANCOUVER, British Columbia, July 14, 2025 (GLOBE NEWSWIRE) -- VERSES AI Inc. (CBOE:VERS) (OTCQB:VRSSD) (\"\n \n VERSES''\n \n or the \"\n \n Company\n \n ”), a cognitive computing company specializing in next-generation intelligent software systems, is pleased to announce that it has closed its previously announced public offering of 1,007,764 units (the “Units”) of the Company at a price of C$9.50 (US$6.946) per Unit (the “\n \n Offering\n \n ”). Pursuant to the Offering, the Company raised gross proceeds of approximately C$9,573,758 (US$7,000,331), before deducting commissions and estimated expenses incurred in connection with the Offering.\n \n\n Each Unit is comprised of one Class A Subordinate Voting Share of the Company (a “\n \n Share\n \n ”) and one-half of one Share purchase warrant (each whole Share purchase warrant, a “\n \n Warrant\n \n ”). Each Warrant entitles the holder to purchase one Share of the Company (a “\n \n Warrant Share\n \n ”) at an exercise price of C$11.50 (US$8.409) per Warrant Share at any time until the date that is 36 months from the date of issuance, subject to adjustment in certain events. The Offering was completed pursuant to an agency agreement dated July 8, 2025 among the Company, A.G.P. Canada Investments ULC and A.G.P./Alliance Global Partners (collectively, the “\n \n Agents\n \n ”). A.G.P. Canada Investments ULC acted as lead Agent for the Offering and A.G.P./Alliance Global Partners acted as U.S. Agent for the Offering.\n \n\n The net proceeds of the Offering are intended to strengthen the Company's financial position and provide liquidity to finance continuing operations, including, in particular, the Company's expenses incurred, and expected to be incurred, in connection with the Company's research and development objectives, and for working capital and general corporate purposes.\n \n\n In connection with the Offering, the Company paid the Agents a cash commission of C$450,000 and issued to the Agents 35,271 compensation warrants (the “\n \n Compensation\n \n\n Warrants\n \n ”). Each Compensation Warrant is exercisable into a Share at an exercise price of C$11.50 (US$8.409) per...