Verses AI Limited Launches C$10 Million Private Placement Offering
Verses AI Limited Launches Private Placement Offering
VANCOUVER, British Columbia — Verses AI Inc. (CBOE: VERS, OTCQX: VRSSF) has unveiled plans for a significant non-brokered private placement offering targeting up to C$10,000,000. The offering will involve the sale of 12.5 million units at a price of $0.80 each.
Details of the Offering
The offering consists of units that include one Class A Subordinate Voting share and half of a share purchase warrant per unit. Each full warrant allows an investor to acquire an additional share at an exercise price of $1.20 per share for a period of three years following the closure of the offering.
Utilization of Proceeds
The proceeds from this offering are earmarked for general working capital and various corporate purposes, aimed at enhancing the company’s operational capabilities and market presence.
Investment Benefits and Structure
Investors will benefit from the structure of this offering, which is designed to take advantage of existing regulations allowing for a smoother capital raise. The units will be freely tradeable, providing flexibility and liquidity for those investing in this opportunity.
Remuneration Structure for Advisors
To incentivize participation and support for the offering, Verses AI will compensate selected finders or advisors. This includes a cash commission of 6.5% of the gross proceeds raised, as well as compensation warrants equivalent to 6.5% of the units sold in this offering.
About Verses AI
Verses AI Inc. stands out as a pioneering cognitive computing company that specializes in advanced artificial intelligence technology. At the heart of its offerings is GIA™, an Intelligent Agent powered by KOSM™, a sophisticated network operating system that allows for distributed intelligence.
The company’s approach is inspired by the workings of natural systems and the human brain, utilizing open standards to convert disparate data into coherent knowledge models. This innovative technology aims to bridge the gap between human capabilities and machine intelligence, propelling collaboration across both digital and physical realms.
Company's Vision for the Future
Verses AI envisions a world where technology and human ingenuity lead to a smarter, more collaborative environment. Their commitment to innovation, coupled with a focus on trust and transparency, positions them as leaders in the AI sector.
Closure Timeline for the Offering
The private placement offering is anticipated to reach its conclusion shortly, with expectations set for closure around September 25, 2024, pending necessary regulatory approvals.
Interested investors or advisors looking for more information about the offering can access detailed documents through the company's profile online.
Frequently Asked Questions
What is the purpose of the private placement offering by Verses AI?
The offering aims to raise funds for general working capital and to support various corporate initiatives.
How many units are being offered in this private placement?
Verses AI intends to offer up to 12.5 million units at a price of $0.80 each.
What are the terms of the warrants included in the offering?
Each unit includes half a warrant, allowing the acquisition of one share at an exercise price of $1.20 for a duration of three years.
Who will be compensated for assisting in the offering?
Finders and advisors involved in the offering will receive a cash commission of 6.5% of gross proceeds, plus compensation warrants.
When is the expected closure date for the offering?
The offering is anticipated to close on or about September 25, 2024, subject to necessary approvals.
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