VERSES® Announces Closing of C$9,573,758 (US$7,000,331) Public Offering of Units

Core Points - VERSES AI Inc. has successfully closed a public offering of 1,007,764 units at a price of C$9.50 (US$6.946) per unit, raising gross proceeds of approximately C$9,573,758 (US$7,000,331) [1][3] - Each unit consists of one Class A Subordinate Voting Share and one-half of a Share purchase warrant, with the warrant allowing the purchase of one share at an exercise price of C$11.50 (US$8.409) for 36 months [2][4] - The net proceeds from the offering will be used to strengthen the company's financial position, support ongoing operations, and fund research and development objectives [3][4] Financial Details - The company paid a cash commission of C$450,000 and issued 35,271 compensation warrants to the agents involved in the offering [4] - Additionally, a cash fee of US$250,000 (C$341,904) was paid to a financial advisor, along with the issuance of 75,000 corporate finance fee warrants [4] Regulatory Information - The offering was conducted under a prospectus supplement filed with Canadian securities commissions and the U.S. SEC, with the base shelf prospectus receipted on September 26, 2024 [5] - The offering was registered in the U.S. under a registration statement declared effective by the SEC on October 1, 2024 [5][7] Company Overview - VERSES AI Inc. is a cognitive computing company focused on developing next-generation intelligent software systems inspired by natural wisdom [8]