VERSES® Announces Closing of Second Tranche of Private Placement Offering of Units

Core Viewpoint - VERSES AI Inc. has successfully completed a second tranche of its non-brokered private placement, raising a total of C$1,100,930 (approximately US$797,717) to strengthen its financial position and support ongoing operations [1][3]. Group 1: Offering Details - The second tranche involved the issuance of 473,500 units at a price of C$0.75 (US$0.54) per unit, generating gross proceeds of C$355,125 (approximately US$257,318) [1]. - The total offering consists of 1,644,307 units, which includes the previously completed tranche announced on March 16, 2026 [1]. - Each unit comprises one Class A Subordinate Voting Share and one-half of a Share purchase warrant, with each warrant allowing the purchase of one share at an exercise price of C$1.00 (approximately US$0.72) [2]. Group 2: Use of Proceeds - The net proceeds from the offering are intended to enhance the company's financial stability and provide liquidity for ongoing operations, particularly for research and development expenses, working capital, and general corporate purposes [3]. Group 3: Finder's Fees and Warrants - In connection with the second tranche, the company paid cash finders' fees of C$10,410 (approximately US$7,543) and issued 29,880 finder warrants to assist with the offering [4]. - Each finder warrant allows the holder to acquire one finder unit at a price of C$0.75 (approximately US$0.54) for a period of 24 months, with each finder unit consisting of one share and one-half of a share purchase warrant [4]. Group 4: Securities Regulations - All securities issued under the offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with Canadian securities legislation [5]. - The units and underlying shares and warrants have not been registered under the U.S. Securities Act and cannot be offered or sold in the United States without proper registration or exemption [6].