VERSES® Announces Closing of US$7.9 Million (C$11.0 Million) Public Offering

Core Viewpoint - VERSES AI Inc. has successfully closed a public offering, raising approximately US$7.9 million (C$11.0 million) through the issuance of 2,750,000 units at a price of US$2.88 (C$4.00) per unit [1][2]. Group 1: Offering Details - Each unit consists of one Class A Subordinate Voting Share and one-half of a Share purchase warrant, with each whole warrant allowing the purchase of one share at an exercise price of US$3.60 (C$5.00) for 36 months from issuance [2]. - The offering was facilitated by an agency agreement with A.G.P. Canada Investments ULC, Clear Street LLC, and A.G.P./Alliance Global Partners [2][3]. Group 2: Use of Proceeds - The net proceeds from the offering will enhance the company's financial position and provide liquidity for ongoing operations, particularly for research and development expenses, working capital, and general corporate purposes [3]. Group 3: Compensation and Fees - The company agreed to pay agents a cash commission of up to 7% of the gross proceeds and issue compensation warrants equal to 3.5% of the units sold, with a reduced commission of 2.0% for certain subscribers [4]. Group 4: Regulatory Compliance - The offering was completed in Canada under a prospectus supplement and filed with securities commissions across Canada, except Quebec, and with the U.S. SEC [5].