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

Core Viewpoint - VERSES AI Inc. has successfully closed a non-brokered private placement with Sorbie Bornholm LP, raising CAD$14,000,000 through the issuance of 2,660,000 Units, which include shares and warrants [1][2]. Group 1: Offering Details - The Offering consists of 2,660,000 Units, each comprising one Class A subordinated voting share and one half warrant, with each whole warrant allowing the purchase of an additional Common Share at an exercise price of CAD$7.00 for 36 months [2]. - The first tranche of CAD$700,000 has been received, with eleven additional tranches expected monthly, calculated based on the difference between a benchmark price of CAD$7.75 and the trailing 20-day Value Weighted Average Price [4]. Group 2: Use of Proceeds - The net proceeds from the Offering will be utilized for working capital and general corporate purposes [3]. Group 3: Regulatory Information - The securities issued under the Offering are subject to a statutory hold period of four months plus a day from the issuance date, in accordance with Canadian securities legislation [5]. - The Common Shares and Warrants will not be registered under the U.S. Securities Act, and cannot be offered or sold in the United States without proper registration or exemption [6]. Group 4: Company Overview - VERSES is a cognitive computing company focused on developing next-generation agentic software systems, with its flagship product, Genius™, designed to provide reliable domain-specific predictions and decisions [8].