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VS - Versus Systems Inc News Story

C$12.65 0.2  1.2%

Last Trade - 25/02/21

Small Cap
Market Cap £65.8m
Enterprise Value £65.6m
Revenue £798k
Position in Universe 820th / 2713

Versus Systems Inc. Announces Pricing of its Public Offering

Fri 15th January, 2021 1:55pm
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LOS ANGELES, Jan. 15, 2021 (GLOBE NEWSWIRE) -- 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 These
documents may also be obtained free of charge, when they are available, by
visiting the SEC's website at

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 Officer

Cody Slach, Sean McGowan
Gateway Investor Relations

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.


GlobeNewswire, Inc. 2021
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