Versus Systems Regains Compliance with Nasdaq Minimum Bid Price Requirement
November 28 2022 - 4:30PM
Versus Systems Inc. (“Versus” or the “Company”) (Nasdaq: VS)
announced that it has received notice from The Nasdaq Stock Market
LLC ("Nasdaq") on November 23, 2022 informing the Company that it
has regained compliance with the minimum bid price requirement
under Nasdaq Listing Rule 5550(a)(2) (the "Rule") for continued
listing on the Nasdaq Capital Market.
On June 14, 2022, Versus received notice from Nasdaq that the
Company was not in compliance with the Rule, as its common shares
failed to meet a closing bid price of $1.00 or more for 30
consecutive business days. The Company conducted a 1-for-15 reverse
split of its common shares on November 8, 2022, to aid the
compliance process.
To regain compliance with the Rule, the Company’s common shares
were required to maintain a minimum closing bid price of $1.00 or
more for at least 10 consecutive business days. This requirement
was met on November 22, 2022.
About Versus Systems
Versus Systems Inc. has developed a proprietary prizing and
promotions engine that allows publishers, developers, and creators
of streaming media, live events, broadcast TV, games, apps, and
other content to offer real world prizes inside their content.
Audiences 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 streaming media, TV, mobile,
console, and PC games, as well as mobile apps. For more
information, please visit www.versussystems.com or
visit the official Versus Systems YouTube
channel.
Investor Contact:Cody Slach and Jackie
KeshnerGateway Investor
Relations949-574-3860IR@versussystems.comorpress@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. 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. 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. 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. 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.
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