Verses AI Inc. 8-K

What Happened Verses AI Inc. (VRSSF) announced it closed a non‑brokered private placement on March 13, 2026, issuing a total of 1,170,807 Units at C$0.75 (US$0.55) per Unit. The Company raised gross cash proceeds of C$745,805 (approximately US$547,644) by issuing 994,407 Units and extinguished C$132,300 (approximately US$97,148) in liabilities by issuing 176,400 Units. Each Unit consists of one Class A Subordinate Voting Share and one‑half of one share purchase warrant.

Key Details

• Total Units issued: 1,170,807 Units at C$0.75 per Unit.
• Cash raised: C$745,805 (~US$547,644) via issuance of 994,407 Units.
• Liabilities extinguished: C$132,300 (~US$97,148) via issuance of 176,400 Units.
• Warrant terms: one‑half warrant per Unit (one full warrant per two Units), exercise price C$1.00 (~US$0.73) per share, exercisable for 24 months from issuance (subject to adjustment).

Why It Matters This transaction provides Verses AI with immediate additional cash (C$745,805) and reduces short‑term liabilities by C$132,300, improving near‑term liquidity and reducing obligations. Investors should note dilution from the 1,170,807 new shares issued and potential further dilution if warrants are exercised at C$1.00 within the next 24 months. The company disclosed the closing in a press release (filed as Exhibit 99.1) and attached the form of warrant to the 8‑K.