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    Verses AI Inc. Announces LIFE Private Placement Offering up to C$10,000,000

    THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

    VANCOUVER, British Columbia, Sept. 20, 2024 (GLOBE NEWSWIRE) -- Verses AI Inc. (CBOE: VERS) (OTCQX:VRSSF) (“Verses” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement (the "Offering") of up to 12,500,000 units of the Company (the "Units") at a price of $0.80 per Unit (the “Offering Price”) for gross proceeds of up to $10,000,000.

    Each Unit will consist of one Class A Subordinate Voting share of the Company (a “Share”) and one-half of one Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share (each, a "Warrant Share") at an exercise price of $1.20 per Share, subject to adjustment in certain circumstances, for a period of 36 months from the Closing Date (as defined below).

    The Offering has been structured to take advantage of the listed issuer financing exemption from prospectus requirements (the "Exemption") in Part 5A of National Instrument 45-106 – Prospectus Exemptions ("NI 45-106"), whereby shares issued pursuant to the Exemption are freely tradeable listed equity securities not subject to any hold period (see below). The Offering will be conducted in all the provinces of Canada, except Québec, under the Exemption, for aggregate gross proceeds up to C$10,000,000. The Offering may be conducted in the United States pursuant to exemptions from the registration requirements under Regulation D of the United States Securities Act of 1933, as amended (the "1933 Act"), subject to receipt of all necessary regulatory approvals, and in those other jurisdictions outside of Canada and the United States provided it is understood that no prospectus filing or comparable obligation arises in such other jurisdiction. The Units will not be subject to resale restrictions pursuant to applicable Canadian securities laws.

    In connection with the Offering, the Company will: (i) pay to certain finders and/or advisors a cash commission equal to 6.5% of the gross proceeds raised from the sale of the Units; and (ii) issue to certain finders and/or advisors that number of compensation warrants (the “Compensation Warrants”) as is equal to 6.5% of the Units sold under the Offering. Each Compensation Warrant will be exercisable into one Unit at the Offering Price for a period of 36 months following the Closing Date (as defined below).

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    Verses AI Inc. Announces LIFE Private Placement Offering up to C$10,000,000 THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, Sept. 20, 2024 (GLOBE NEWSWIRE) - Verses AI Inc. (CBOE: VERS) (OTCQX:VRSSF) (“Verses” or the “Company”) is …