VERSES AI Inc. announced that it expects to receive CAD 10 million in funding
On the same date, the company has issued 7,000,000 special warrants at a price of CAD 1 per warrant for gross proceeds of CAD 7,000 000 in its first tranche closing. Under the first tranche of the private placement, the company paid fees to eligible finders consisting of CAD 90,400 and 90,400 finder warrants. Each Finder Warrant will be exercisable into one unit at a price of CAD 1 per Finder Unit until the date that is two years from the date of issue of the Finder Warrants, which Finder Unit will comprise a Class A Subordinate Voting share of the company and one-half of one Class A Subordinate Voting share purchase warrant. Each Finder Unit Warrant shall be exercisable into one Class A Subordinate Voting share of the company at a price of CAD 1.50 per Finder Unit Warrant Share for a period of two years from the date of issue of the Finder Unit Warrants. A director and an officer of the company purchased an aggregate of 76,582 special warrants under the first tranche of the Private Placement.