Versus Systems Inc. Announces Pricing of its Public Offering

LOS ANGELES, Jan. 15, 2021 (GLOBE NEWSWIRE) -- Versus Systems Inc. (“Versus” or the “Company”) (CSE:VS) (OTCQB:VRSSF) (FRANKFURT:BMVA) today announced the pricing of its public offering of 1,280,000 units at a public offering price of USD $7.50 per unit, for gross proceeds of USD $9,600,000, before deducting underwriting discounts and commissions and other offering expenses payable by Versus. Each unit consists of one common share, one Unit A Warrant and one Unit B Warrant, each to purchase one common share at USD $7.50 per share. All of the units are being offered by Versus. In addition, Versus has granted the underwriter a 30-day option to purchase up to an additional 192,000 common shares at the public offering price, less underwriting discounts and commissions.   

The common shares and Unit A Warrants are expected to begin trading on The Nasdaq Capital Market on January 15, 2021 under the ticker symbols "VS” and “VSSYW”, respectively. The offering is expected to close on January 20, 2021, subject to the satisfaction of customary closing conditions.

Lake Street Capital Markets, LLC is acting as sole book-running manager for the offering.

A registration statement relating to the securities being sold in the offering was declared effective by the Securities and Exchange Commission (“SEC”) on January 14, 2021. This offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained, when available, from the offices of Lake Street Capital Markets, LLC, 920 Second Avenue South, Suite 700, Minneapolis, Minnesota 55402, by telephone at [phone], or by email at [e-mail]. These documents may also be obtained free of charge, when they are available, by visiting the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.