Versus Systems Announces Strategic Investment from Yat Siu, Executive Chairman and Co-Founder of Animoca Brands
October 07 2022 - 7:00AM
Versus Systems Inc. (“Versus” or the “Company”) (Nasdaq: VS)
announced today that the Company recently secured a strategic
investment from Yat Siu, the Executive Chairman and Co-Founder of
multi-billion-dollar digital entertainment company Animoca Brands
and Chief Executive Officer of Outblaze Limited. A strategic
partner of Versus Systems, Animoca Brands is a global leader in
digital entertainment, gaming, and Web 3.0 applications.
Mr. Siu’s investment, through his company Outblaze, reflects his
support for Versus’ growth strategy and proprietary technology as
the Company further expands its partnerships and products into
advertising, streaming media, and Web 3.0.
The private placement transaction between Mr. Siu and Versus was
confirmed on September 30, 2022 and closed on October 6, 2022. Per
the terms of the agreement, Mr. Siu purchased 6,184,382 shares at
the September 29, 2022, market close price of $0.181 per share, for
a total USD $1,119,373.14. The transaction was completed at the
at-then-market price, with no discounts and no warrants. Upon the
issuance of the shares associated with this transaction, Outblaze
became a 19.9% shareholder in Versus. Details of the deal were
filed with the SEC in a Form 6-K on October 6, 2022.
“Yat Siu is a visionary and strong advocate for revolutionizing
audience engagement with interactivity and rewards-based media,”
said Matthew Pierce, Founder and CEO of Versus Systems. “As a
leader at the forefront of digital collectables, gaming, and Web
3.0, Yat is committed to transforming the way we engage with media
content.”
“Versus is now well-positioned to help shape the trends of
interactivity and rewards in digital media,” added Yat Siu,
Executive Chairman of Animoca Brands. “It is making exciting
changes to monetize fan experiences and advertising both in-venue
and online and I look forward to the growth of its new product
suite.”
About Versus Systems
Versus Systems Inc. is an engagement and rewards company that
makes live events, games, shows, and apps more fun to watch and
play. Versus adds interactive games, polling, trivia, predictive
elements, and other win conditions to existing entertainment -
whether in-venue or online - making the content more contextual,
personal, and rewarding. Versus works with world class sports
teams, leagues, venues, entertainment companies, and other content
creators to make engaging, rewarding experiences for fans all over
the world. For more information, please visit
www.versussystems.com or visit the official Versus
Systems YouTube channel.
Investor Contact:Cody Slach and Sophie
PearsonGateway Investor
Relations949-574-3860IR@versussystems.comorpress@versussystems.com
Disclaimer for Forward-Looking
InformationThis news release contains certain
forward-looking information and forward-looking statements within
the meaning of the applicable Canadian securities legislation. All
statements, other than statements of historical fact, are forward
looking statements and are based on expectations, estimates and
projections as at the date of this news release. Any statement that
involves discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, assumptions, future events
or performance (often but not always using phrases such as
“expect”, or “does not expect”, “is expected”,
“anticipates” or “does not anticipate”, “plans”, “budget”,
“scheduled”, “forecasts”, “estimates”, “believes” or
“intends” or variations of such words and phrases or stating
that certain actions, events or results “may” or “could”,
“would”, “might” or “will” be taken to occur or be
achieved) are not statements of historical fact and may be forward
looking statements. These forward-looking statements are based on
reasonable assumptions and estimates of management of the Company
at the time such statements were made. Actual future results may
differ materially as forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to
materially differ from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Although the forward-looking statements contained in
this news release are based upon what management of the Company
believes, or believed at the time, to be reasonable assumptions,
the Company cannot assure shareholders that actual results will be
consistent with such forward-looking statements, as there may be
other factors that cause results not to be as anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on forward-looking statements and information. There can
be no assurance that forward-looking information, or the material
factors or assumptions used to develop such forward-looking
information, will prove to be accurate. The Company does not
undertake any obligations to release publicly any revisions for
updating any voluntary forward-looking statements, except as
required by applicable law.
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