Versus Systems Inc logo

VS - Versus Systems Inc News Story

C$12.65 0.2  1.2%

Last Trade - 25/02/21

Sector
Technology
Size
Small Cap
Market Cap £70.4m
Enterprise Value £70.2m
Revenue £799k
Position in Universe 801st / 2712

Versus Systems Inc. Announces Closing of $11.0 Million Public Offering

Thu 21st January, 2021 1:00pm
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20210121:nGNX59WJZK&default-theme=true


LOS ANGELES, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Versus Systems Inc.
(“Versus” or the “Company”) (Nasdaq: VS) (CSE:VS) (FRANKFURT:BMVB)
today announced that it closed its previously-announced public offering of
1,280,000 units. Further, the underwriter has exercised in full its
over-allotment option to purchase an additional 192,000 common shares, at the
public offering price, less the underwriting discount. The offering was priced
at USD $7.50 per unit, for gross proceeds of USD $11,040,000, 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.

The common shares and Unit A Warrants began trading on The Nasdaq Capital
Market on January 15, 2021 under the ticker symbols "VS” and “VSSYW”,
respectively.

A registration statement relating to these securities was declared effective
by the Securities and Exchange Commission (“SEC”) on January 14, 2021.
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.

Lake Street Capital Markets, LLC acted as sole book-running manager for the
offering.

This offering was made only by means of a prospectus. A copy of the final
prospectus relating to this offering was filed with the SEC on January 19,
2021 and may also be obtained 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, by visiting the SEC's website
at www.sec.gov.

The Company intends to use the net proceeds of this offering to repay
indebtedness in the principal amount of USD $250,000 and the balance for
working capital and general corporate purposes, including marketing and sales
expenses, the costs and expenses of the continuing development of Versus’
prizing and rewards platform and salaries and wages.

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 Officer
info@versussystems.com

Cody Slach, Sean McGowan
Gateway Investor Relations
949-574-3860
VS@gatewayir.com
or
press@versussystems.com 

(https://www.globenewswire.com/NewsRoom/AttachmentNg/9160e051-5a55-4ed0-beaf-c5512cc642fa)



GlobeNewswire, Inc. 2021
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.