Versus Systems, Inc. (“Versus” or the “Company”)
(CSE:VS) (CSE:VS.CN) (OTCQB:VRSSF) (FRANKFURT:BMVA)
– is pleased to announce that it has entered into
a letter of engagement with Eight Capital, pursuant to which the
Eight Capital, acting as agent for the Company, has agreed to offer
for sale Units of the Company (the “
Units”), on a
“best efforts” private placement basis, subject to all required
regulatory approvals, at a price per Unit of $0.30 (the
“
Issue Price”) for total gross proceeds of up to
$3,000,000 (the “
Offering”). Fort Capital Partners
is acting as financial adviser to the Company in connection with
the offering.
Each Unit shall consist of one common share of
the Company (a “Share”) and one-half of one common
share purchase warrant (each full warrant, a
“Warrant”). Each Warrant shall entitle the holder
thereof to acquire one Share at a price of $0.40 per Share for a
period of 24 months following the Closing Date.
The Company has granted the Agents an option to
offer for sale up to an additional 15% of the Units, at the Issue
Price, exercisable in whole or in part at any time for a period of
up to 48 hours prior to the closing date of the Offering.
The net proceeds from the Offering will be used
to enhance marketing efforts and engineering resources.
The Offering is being made in Canada to
“accredited investors” within the meaning of National Instrument
45-106 and other exempt purchasers in each province of Canada, as
agreed upon by the Versus and Eight Capital, and in the United
States only pursuant to available exemptions from the registration
requirements of the Securities Act of 1933, as amended (the
“Securities Act”), and in compliance with the securities laws of
the applicable States of the United States.
The securities being offered have not been, nor
will they be, registered under the United States Securities Act and
may not be offered or sold in the United States or to, or for the
account or benefit of, U.S. persons absent registration or an
applicable exemption from the registration requirements. This news
release will not constitute an offer to sell or the solicitation of
an offer to buy nor will there be any sale of the securities in any
State in which such offer, solicitation or sale would be
unlawful.
About Versus Systems
Versus Systems, Inc. has developed a proprietary
in-game prizing and promotions engine that allows publishers and
developers of interactive media to offer prizes inside interactive
media including mobile, console, PC games, and streaming media.
Brands pay to place products ingame via the Versus platform and
players will compete for those prizes.
Versus has developed blockchain security and
personalization technologies to secure their prizing system. Versus
is working with 704 Games for the NASCAR series of mobile and
console games, including NASCAR Heat Mobile which will be available
with Versus prizing in early 2018. Versus is also working with Team
NINJA, a subsidiary of Koei Tecmo for additional PC and console
games; and their prize provider partners include Rockstar Energy
Drink, Han Cholo, Tier1, IDW Publishing, and others. To learn more
about Versus, see the website at www.versussystems.com, or watch
their most recent video on Youtube.
For Versus Systems, contact Liz Pieri m: 626-818-7580
liz@pieripr.com
Cautionary Note Regarding Forward
Looking Information
This news release contains certain
forward-looking information and forward-looking statements within
the meaning of the applicable Canadian securities legislation. All
statements, other than statements of historical fact, are
forward-looking statements and are based on expectations, estimates
and projections as at the date of this news release. Any statement
that involves discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions,
future events or performance (often but not always using phrases
such as "expects", or "does not expect", "is expected",
"anticipates" or "does not anticipate", "plans", "budget",
"scheduled", "forecasts", "estimates", "believes" or "intends" or
variations of such words and phrases or stating that certain
actions, events or results "may" or "could", "would", "might" or
"will" be taken to occur or be achieved) are not statements of
historical fact and may be forward-looking statements. In this news
release, forward-looking statements relate, among other things, to:
the completion of the Offering and the use of proceeds from the
Offering.
These forward-looking statements are based on
reasonable assumptions and estimates of management of the Company
at the time such statements were made. Actual future results may
differ materially as forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to
materially differ from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Although the forward-looking statements contained in
this news release are based upon what management of the Company
believes, or believed at the time, to be reasonable assumptions,
the Company cannot assure shareholders that actual results will be
consistent with such forward-looking statements, as there may be
other factors that cause results not to be as anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on forward-looking statements and information. There can
be no assurance that forward-looking information, or the material
factors or assumptions used to develop such forward-looking
information, will prove to be accurate. The Company does not
undertake any obligations to release publicly any revisions for
updating any voluntary forward-looking statements, except as
required by applicable securities law.
The Canadian Securities Exchange does
not accept responsibility for the adequacy or accuracy of this
press release.
Versus Systems Inc. (TSXV:VS)
Historical Stock Chart
From Apr 2024 to May 2024
Versus Systems Inc. (TSXV:VS)
Historical Stock Chart
From May 2023 to May 2024