VERSES® Restructures to Focus on Core Target Market

Core Strategy - VERSES AI Inc. has announced a refocused corporate strategy aimed at concentrating resources on core target markets and high-priority initiatives [1][2] - The company aims to drive the best return on investment and benefit to shareholders through this strategic focus [3] Workforce Restructuring - The company is implementing a workforce restructuring that will reduce headcount by approximately 50% [2] - This reduction includes the termination of certain furloughed employees and executives not associated with core market activities [2] - Certain executives are temporarily deferring their salaries to support the company's strategy [2] Financial Impact - The restructuring is expected to drastically reduce operating costs and improve the company's liquidity position [2][5] - The leadership team believes that the actions taken will enhance efficiency and speed in pursuing core target markets [3]