VERSES Announces NRI Transitions to GENIUS™
August 14 2024 - 6:31PM
VERSES AI Inc. (CBOE:VERS) (OTCQB:VRSSF) (“VERSES” or the
“Company”), a cognitive computing company developing
next-generation intelligent software systems, today announced that
third party logistics company NRI USA, LLC (“NRI”) will be
upgrading to the GENIUS Beta program.
“NRI was an early adopter of our offerings and saw the vision of
what our intelligent software can provide. Since we entered into a
commercial agreement with them, our business model has evolved from
an industry specific bespoke offering, to that of our current
flagship platform offering, GENIUS. So naturally it makes sense to
transition our relationship onto the GENIUS platform,” said Gabriel
René, CEO of VERSES.
“It was great utilizing the early capabilities of Wayfinder but
we need more than just routing capabilities. The 3PL and supply
chain industry is more complex than ever and at times very
unpredictable. The ability to apply our vast amounts of data to
GENIUS’ reasoning capabilities is extremely exciting for our
business. This will be a foundational element for when the more
advanced Genius capabilities are released in the future, ” said
Pete McKenna, CEO of NRI.
Due to the change of platform and the structure of the GENIUS
offering, the existing SaaS contract dated August 25, 2021 is
being voided by both parties and no further obligations are
required on behalf of either party in respect of the SaaS contract.
The two companies intend to enter into a new contract for GENIUS on
terms being negotiated by the parties.
About VERSES
VERSES is a cognitive computing company building next-generation
intelligent software systems modeled after the wisdom and genius of
Nature. Designed around first principles found in science, physics
and biology, our flagship product, GENIUS™, is a toolkit for
developers to generate intelligent software agents that enhance
existing applications with the ability to reason, plan, and learn.
Imagine a Smarter World that elevates human potential through
technology inspired by Nature. Learn more
at verses.ai, LinkedIn and X.
On behalf of the Company
Gabriel René, Founder & CEO, VERSES AI Inc.
Press Inquiries: press@verses.ai
Investor Relations Inquiries
U.S., Matthew Selinger, Partner, Integrous Communications,
mselinger@integcom.us 415-572-8152
Canada, Leo Karabelas, President, Focus Communications,
info@fcir.ca 416-543-3120
Cautionary Note Regarding Forward-Looking
Statements
When used in this press release, the words "estimate",
"project", "belief", "anticipate", "intend", "expect", "plan",
"predict", "may" or "should" and the negative of these words or
such variations thereon or comparable terminology are intended to
identify forward-looking statements and information. Although
VERSES believes, in light of the experience of their respective
officers and directors, current conditions and expected future
developments and other factors that have been considered
appropriate, that the expectations reflected in the forward-looking
statements and information in this press release are reasonable,
undue reliance should not be placed on them because the parties can
give no assurance that such statements will prove to be correct.
The forward-looking statements and information in this press
release include, among other things, the statement regarding the
Company and NRI expecting to enter into a new contract.
There are risks and uncertainties that may cause actual results
to differ materially from those contemplated in those
forward-looking statements and information. In making the
forward-looking statements in this news release, the Company has
applied various material assumptions.. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. There are a number of important factors that could
cause VERSES actual results to differ materially from those
indicated or implied by forward-looking statements and information.
Such factors include, among others: the ability of the Company to
negotiate a new commercial agreement with NRI. The Company
undertakes no obligation to comment on analyses, expectations or
statements made by third parties in respect of its securities or
its financial or operating results (as applicable).
Additionally, forward-looking statements involve a variety of
known and unknown risks, uncertainties and other factors which may
cause the actual plans, intentions, activities, results,
performance or achievements of the Company to be materially
different from any future plans, intentions, activities, results,
performance or achievements expressed or implied by such
forward-looking statements. Such risks include, without limitation:
the risk that the Company will be unsuccessful in negotiating a new
commercial agreement with NRI. VERSES cautions that the foregoing
list of material factors is not exhaustive. When relying on VERSES’
forward-looking statements and information to make decisions,
investors and others should carefully consider the foregoing
factors and other uncertainties and potential events. VERSES has
assumed that the material factors referred to in the previous
paragraph will not cause such forward-looking statements and
information to differ materially from actual results or events.
However, the list of these factors is not exhaustive and is subject
to change and there can be no assurance that such assumptions will
reflect the actual outcome of such items or factors. The
forward-looking information contained in this press release
represents the expectations of VERSES as of the date of this press
release and, accordingly, are subject to change after such date.
VERSES does not undertake to update this information at any
particular time except as required in accordance with applicable
laws.
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