Versus Systems Inc. (“Versus” or the “Company”) (CSE:VS)
(OTCQB:VRSSF) (FRANKFURT:BMVA) today announced the pricing of its
public offering of 1,280,000 units at a public offering price of
USD $7.50 per unit, for gross proceeds of USD $9,600,000, before
deducting underwriting discounts and commissions and other offering
expenses payable by Versus. Each unit consists of one common share,
one Unit A Warrant and one Unit B Warrant, each to purchase one
common share at USD $7.50 per share. All of the units are being
offered by Versus. In addition, Versus has granted the underwriter
a 30-day option to purchase up to an additional 192,000 common
shares at the public offering price, less underwriting discounts
and commissions.
The common shares and Unit A Warrants are
expected to begin trading on The Nasdaq Capital Market on January
15, 2021 under the ticker symbols "VS” and “VSSYW”, respectively.
The offering is expected to close on January 20, 2021, subject to
the satisfaction of customary closing conditions.
Lake Street Capital Markets, LLC is acting as
sole book-running manager for the offering.
A registration statement relating to the
securities being sold in the offering was declared effective by the
Securities and Exchange Commission (“SEC”) on January 14, 2021.
This offering is being made only by means of a prospectus. Copies
of the final prospectus relating to this offering may be obtained,
when available, from the offices of Lake Street Capital Markets,
LLC, 920 Second Avenue South, Suite 700, Minneapolis, Minnesota
55402, by telephone at (612) 326-1305, or by email at
info@lakestreet.com. These documents may also be obtained free of
charge, when they are available, by visiting the SEC's website at
www.sec.gov.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. Any offers,
solicitations or offers to buy, or any sales of securities will be
made in accordance with the registration requirements of the
Securities Act of 1933, as amended.
About Versus Systems
Versus Systems Inc. has developed a proprietary
in-game prizing and promotions engine that allows publishers,
developers, and creators of games, apps, and other interactive
media content to offer real world prizes inside their content.
Players, viewers and users can choose from among the offered prizes
and then complete in-game or in-app challenges to win the prizes.
The Versus platform can be integrated into mobile, console, and PC
games, as well as streaming media and mobile apps.
For Versus Systems, contact:
Matthew Pierce, Chief Executive
Officerinfo@versussystems.com
Cody Slach, Sean McGowanGateway Investor
Relations949-574-3860VS@gatewayir.com orpress@versussystems.com
Disclaimer for Forward-Looking
Information
This news release contains certain
forward-looking information and forward-looking statements within
the meaning of the applicable Canadian securities legislation and
Private Securities Litigation Reform Act of 1995. All statements,
other than statements of historical fact, are forward looking
statements and are based on expectations, estimates and projections
as at the date of this news release. Any statement that involves
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions, future events or
performance (often but not always using phrases such as "expects",
or "does not expect", "is expected", "anticipates" or "does not
anticipate", "plans", "budget", "scheduled", "forecasts",
"estimates", "believes" or "intends" or variations of such words
and phrases or stating that certain actions, events or results
"may" or "could", "would", "might" or "will" be taken to occur or
be achieved) are not statements of historical fact and may be
forward looking statements. In this news release, such statements
include, without limitation, statements regarding the proceeds of
the public offering, the common shares and Unit A Warrants trading
on The Nasdaq Capital Market and closing the public offering. These
forward-looking statements are based on reasonable assumptions and
estimates of management of the Company at the time such statements
were made. Actual future results may differ materially as
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to materially differ
from any future results, performance or achievements expressed or
implied by such forward-looking statements including uncertainties
related to the potential that we may not receive some or all of the
gross proceeds from the offering, that we may not be able to begin
trading our common shares and Unit A Warrants on The Nasdaq Capital
Market as planned, or that the closing may not proceed as planned.
Although the forward-looking statements contained in this news
release are based upon what management of the Company believes, or
believed at the time, to be reasonable assumptions, the Company
cannot assure shareholders that actual results will be consistent
with such forward-looking statements, as there may be other factors
that cause results not to be as anticipated, estimated or intended.
Important factors that could cause actual results to differ
materially from those in the forward-looking statements are set
forth in the Company’s filings with the SEC, including its
registration statement on Form F-1, as amended (File No.
333-250868), including under the caption "Risk Factors."
Accordingly, readers should not place undue reliance on
forward-looking statements and information. There can be no
assurance that forward-looking information, or the material factors
or assumptions used to develop such forward-looking information,
will prove to be accurate. The Company does not undertake any
obligations to release publicly any revisions for updating any
voluntary forward-looking statements, except as required by
applicable law.
The Canadian Securities Exchange does not accept responsibility
for the adequacy or accuracy of this press release.
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