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Financings

Verses AI closes $355,125 second tranche of placement

By The Northwire Desk — AI Analysis Mar 27, 2026 · 16:14 VERS · 0.95 Verses AI Inc
VERS · Price

Executive Summary

  • Verses AI Inc. announced the closing of the second tranche of its non-brokered private placement, raising $355,125 CAD through the issuance of 473,500 units.
  • The company has now raised aggregate gross proceeds of $1,100,930 CAD and extinguished $132,300 CAD in liabilities through the issuance of a total of 1,644,307 units across both tranches.
  • Proceeds are designated to strengthen the financial position, provide liquidity for continuing operations, fund research and development, and cover working capital and general corporate purposes.

Key Details

  • Second Tranche Details:
    • Issued 473,500 units.
    • Price: 75 cents CAD ($0.54 USD) per unit.
    • Gross Proceeds: $355,125 CAD ($257,318 USD).
  • Aggregate Transaction Status:
    • Total Gross Proceeds Raised: $1,100,930 CAD ($797,717 USD).
    • Liabilities Extinguished: $132,300 CAD ($95,863 USD).
    • Total Units Issued: 1,644,307 units.
    • Previous Tranche Announced: March 16, 2026.
  • Security Structure (Units):
    • Each unit consists of one Class A subordinate voting share and one-half of one share purchase warrant.
    • Warrant Exercise Price: $1 CAD ($0.72 USD) per warrant share.
    • Warrant Expiration: 24 months from the date of issuance (subject to adjustment).
  • Finder Fees and Compensation:
    • Cash Finders' Fees Paid: $10,410 CAD ($7,543 USD).
    • Finder Warrants Issued: 29,880 warrants to finders outside the U.S.
    • Finder Warrant Terms: Entitles holder to acquire one finder unit at 75 cents CAD for 24 months.
    • Finder Unit Structure: One share and one-half of one share purchase warrant.
    • Finder Warrant Exercise: One additional share at $1 CAD for 24 months.
  • Regulatory and Hold Periods:
    • Securities subject to a statutory hold period of four months plus one day from issuance under Canadian securities legislation.
    • Purchasers were non-U.S. persons as defined in Regulation S under the U.S. Securities Act.

Notable Quotes

  • No direct quotes from management were included in the provided text.
Read the original news release →

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