Business

VERSES® Closes Financing Arrangement with a Notional Value of CAD$14 Million and Receives First Tranche of CAD$700,000

VANCOUVER, British Columbia, Nov. 13, 2025 (GLOBE NEWSWIRE) -- VERSES AI Inc. (CBOE: VERS) (OTCQB: VRSSF) (“VERSES” or the “Company”), a cognitive computing company pioneering next-generation agentic software systems, is pleased to announce that it has closed its previously announced non-brokered private placement (the “Offering”) with Sorbie Bornholm LP (“Sorbie”). As part of the Offering, VERSES is expected to receive a notional amount of CAD$14,000,000 in exchange for the issuance of an aggre

articleVerses Ai IncNovember 13, 20254/company/verses-ai-inc/news/versesr-closes-financing-arrangement-with-a-notional-value-of-caddollar14-million-and-receives-first-tranche-of-caddollar700000
VERSES® Closes Financing Arrangement with a Notional Value of CAD$14 Million and Receives First Tranche of CAD$700,000

About this update from Verses Ai Inc

[{"type":"image","alt":"VERSES AI Inc.","displaySize":"","headline":null,"caption":"VERSES AI Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":300,"url":"https://media.zenfs.com/en/globenewswire.com/e12b61fdc99d818436dd99f34dff8b2a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/_l.eiHDf2olcAH8VFEPDjQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTQyMDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/e12b61fdc99d818436dd99f34dff8b2a","width":300,"height":300}},"lazy":false},{"type":"text","content":"VANCOUVER, British Columbia, Nov. 13, 2025 (GLOBE NEWSWIRE) -- VERSES AI Inc. (CBOE: VERS) (OTCQB: VRSSF) (“VERSES” or the “Company”), a cognitive computing company pioneering next-generation agentic software systems, is pleased to announce that it has closed its previously announced non-brokered private placement (the “Offering”) with Sorbie Bornholm LP (“Sorbie”).","length":368,"tagName":"p"},{"type":"text","content":"As part of the Offering, VERSES is expected to receive a notional amount of CAD$14,000,000 in exchange for the issuance of an aggregate of 2,660,000 Units, including finder’s fees. Each Unit consists of one Class A subordinated voting share (a “Common Share”) of the Company and one half warrant (each whole warrant, a “Warrant”), where each Warrant will entitle the holder to acquire one additional Common Share at an exercise price of CAD$7.00 for a period of 36 months from the closing of the Offering.","length":505,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes.","length":111,"tagName":"p"},{"type":"text","content":"Verses has received CAD$700,000 representing the first tranche of the Offering, and expects to receive eleven additional tranches expected to be paid monthly subject to the terms of the Sharing Agreement. The Sharing Agreement calculates each additional tranche, as CAD$1,209,091 times the percent difference between the benchmark price of CAD$7.75 and the trailing 20-day Value Weighted Average Price. In the case where the 20-day Value Weighted Average Price is greater than the benchmark price, then the difference will be added to CAD$1,209,092 and there is no limit to the amount that Verses can receive. VERSES anticipates that the additional tranches will begin 30 days after closing and is ...

More updates from Verses Ai Inc

VERSES AI Inc.The CompanyVERSESCommon ShareCompany