Verses AI

Canaccord Genuity Acts as Sole Bookrunner and Financial Advisor to Verses AI Inc. on C$23.5MM Upsized Financing of LIFE Units and Special Warrants

Canaccord Genuity is pleased to announce that on July 6, 2023, Verses AI Inc. (NEO:VERS) ("Verses" or the "Company") closed its previously announced financing of Units for gross proceeds of approximately C$23.5 million (the “Offering”). The offering was conducted through the Listed Issuer Financing Exemption and a concurrent Private Placement of Special Warrants. The Company intends to utilize the net proceeds of the Offering to finance the development of Artificial Intelligence (AI) projects in the Company’s pipeline.

Verses is a cognitive computing company focusing on AI. Verses’ pipeline offerings include GIA – a universal agent across software and hardware for retail consumers, operating through the Company’s network operating system (OS) - KOSM. The KOSM OS translates disparate data into knowledge models that foster collaboration between humans, machines, and AI across physical and digital domains. Current offerings include Wayfinder, an AI managed warehousing product, which uses AI to construct a 3D digital twin model of the warehouse to increase the efficiency of personnel and warehouse layouts.

The Canaccord Genuity team included Jamie Brown, Shane MacLachlan, Peter Walls, and Devan Hunter from Investment Banking, with exceptional support from Len Sauer and Kylie Lee in Equity Capital Markets.