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VERSES Provides Update on Private Placement

Nov 08, 2024 - financialpost.com
VERSES AI Inc., a cognitive computing company, has announced that it has received subscriptions for aggregate gross proceeds of approximately $5.1 million in connection with its previously announced private placement. The offering is expected to close subject to approval from Cboe Canada. The company's flagship product, Genius™, is a toolkit for developers to generate intelligent software agents that enhance existing applications with the ability to reason, plan, and learn.

However, the press release clarified that this does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, and applicable U.S. state securities laws.

Key takeaways:

  • VERSES AI Inc. has received subscriptions for aggregate gross proceeds of approximately $5.1 million in connection with its previously announced private placement.
  • The Offering is anticipated to close today, subject to approval of Cboe Canada.
  • VERSES is a cognitive computing company building next-generation intelligent software systems modeled after the wisdom and genius of Nature.
  • There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
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