VERSES Receives Acceptance from NEO Exchange for Warrant Listing
January 23 2023 - 8:00AM
VERSES Technologies Inc. (NEO:VERS) ("VERSES'' or the "Company”) is
pleased to announce that further to its press release dated
December 16, 2022 (the “Initial Press Release”), it has received
acceptance from the Neo Exchange Inc. (the "NEO") to list (the
“Supplemental Listing”) up to 18,100,714 Class A subordinate voting
share purchase warrants of the Company (the “Class A Warrants”).
An aggregate of 11,613,485 Class A Warrants (the
“Amended Warrants”) were subject to certain Warrant Amendments (as
defined and described in the Initial Press Release). The Amended
Warrants will be posted for trading on the NEO at market open on
January 24, 2023 under the symbol “VERS.WT.A”. Each Amended Warrant
entitles the holder thereof to acquire one Class A subordinate
voting share of the Company (a “Class A Share”) at an exercise
price of $1.00 per Class A Share until 4:00 p.m. (Vancouver time)
on August 15, 2025. The Amended Warrants are subject to the
provisions of a warrant indenture dated December 16, 2022 between
the Company and Endeavor Trust Corporation (“Endeavor”), pursuant
to which Endeavor acts as warrant agent for the Amended Warrants. A
copy of the warrant indenture may be obtained under the Company's
SEDAR profile at www.sedar.com.
An aggregate of 6,487,229 Class A Warrants (the
“Unlisted Warrants”) may become listed on the NEO once the
Company’s receives written consent from the applicable warrant
holders for the Warrant Amendments. Endeavor or the Company will
provide any warrant holders that have not yet provided written
consent to the Warrant Amendments with notices by email or physical
mail seeking their written approval to replace each of their
Unlisted Warrants with an Amended Warrant that will be tradable
under the symbol “VERS.WT.A” pursuant to the Supplemental Listing.
Until such warrant holders provide their written consent to replace
their Unlisted Warrants with the Amended Warrants, their Unlisted
Warrants will: (i) not be subject to the Warrant Amendments; (ii)
not be included in the Supplemental Listing; and (iii) continue to
be governed by their current terms and conditions until the
applicable expiry date.
Prior to the Company listing a new batch of
Unlisted Warrants after the initial Supplemental Listing, the
Company will file a NEO Form 14A – Notice of an Additional Listing
with the NEO.
About VERSES
VERSES is a next-generation AI company providing
foundational technology for the contextual computing era. Modeled
after natural systems and the design principles of the human brain
and the human experience, VERSES’ flagship offering, KOSM™, is an
AI Operating System for enhancing any application with adaptive
intelligence. Built on open standards, KOSM transforms disparate
data into a universal context that fosters trustworthy
collaboration between humans, machines, and AI, across digital and
physical domains. Imagine a smarter world that elevates human
potential through innovations inspired by nature. Learn more at
VERSES, LinkedIn, and Twitter.
On Behalf of the Company Gabriel RenéVERSES
Technologies Inc.Co-Founder & CEOpress@verses.io
Media and Investor Relations Inquiries Leo
KarabelasFocus CommunicationsPresidentinfo@fcir.ca416-543-3120
NEO Exchange has not reviewed or approved this press release for
the adequacy or accuracy of its contents.
Forward-Looking Statements Cautionary Note
This release includes certain statements and
information that may constitute forward-looking information within
the meaning of applicable Canadian securities laws. Forward-looking
statements relate to future events or future performance and
reflect the expectations or beliefs of management of the Company
regarding future events. Generally, forward-looking statements and
information can be identified by the use of forward-looking
terminology such as “intends” or “anticipates”, or variations of
such words and phrases or statements that certain actions, events
or results “may”, “could”, “should”, “would” or “occur”. This
information and these statements, referred to herein as
"forward-looking statements", are not historical facts, are made as
of the date of this news release and include without limitation,
statements regarding the date of listing of the Company’s Amended
Warrants; that the Unlisted Warrants may become listed after the
Company receives written consent for the Warrant Amendments; and
the intention of the Company and Endeavor to send notices to the
warrant holders of the Unlisted Warrants. Such forward-looking
statements are based on a number of assumptions of management,
including, without limitation, that the Company’s Amended Warrants
will begin trading on the NEO on the date expected, that the
Company will be able to list the Unlisted Warrants after the
initial Supplemental Listing, that the Company or Endeavor will
send notices to the holders of the Unlisted Warrants, that the
warrant holders will receive such notices and that the Company’s
operations will not be adversely impacted by COVID-19 or the
ongoing conflict in eastern Europe. Additionally, these
forward-looking statements involve numerous risks and
uncertainties, including without limitation: technology challenges,
the failure of the Company’s Amended Warrants to begin trading on
the date expected, the failure of the Company to obtain NEO
acceptance for the Supplement Listing of the Unlisted Warrants,
changes in legislation or NEO rules, that the warrant holders of
the Unlisted Warrants will not receive the notices from the Company
or Endeavor and unanticipated costs. Although management of the
Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements or forward-looking information, there
may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. Readers
are cautioned that reliance on such information may not be
appropriate for other purposes. The Company does not undertake to
update any forward-looking statement, forward-looking information
that is incorporated by reference herein, except in accordance with
applicable securities laws. We seek safe harbor.
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