VERSES AI completes second tranche of private placement raising C$355,125

VERSES AI Inc. (CBOE: VERS) (OTCQB: VRSSF) completed the second tranche of its non-brokered private placement offering, issuing 473,500 units at C$0.75 per unit for gross proceeds of C$355,125, according to a company statement.

Combined with the first tranche announced March 16, 2026, the cognitive computing company raised aggregate gross proceeds of C$1,100,930 and extinguished C$132,300 in liabilities through the issuance of 1,644,307 total units.

Each unit consists of one Class A subordinate voting share and one-half of one share purchase warrant. The warrants allow holders to purchase additional shares at C$1.00 per share within 24 months of issuance.

The company plans to use proceeds to strengthen its financial position and fund continuing operations, including research and development expenses and general corporate purposes.

In connection with the second tranche, VERSES paid C$10,410 in finder fees and issued 29,880 finder warrants to parties who assisted with the offering to non-U.S. purchasers. Each finder warrant allows the purchase of one finder unit at C$0.75 for 24 months.

All securities issued are subject to a four-month-plus-one-day statutory hold period under Canadian securities legislation. The securities were not registered under U.S. securities laws and may not be offered or sold in the United States without registration or applicable exemptions.

VERSES develops intelligent software systems and operates its flagship product Genius, described as an enterprise intelligence platform for predictions and decisions. The company trades on the CBOE Canada exchange under "VERS" and on the OTCQB under "VRSSF."

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