Verses Technologies (VERS.NEO) closes $5.24 million PP tranche

Verses Technologies (VERS.NEO), an AI company focused on providing foundational technology for the contextual computing age, announced today that it had successfully closed the first tranche of its recently announced private placement gross proceeds of $5.24 million CAD.

Each of the 5.24 million units contain one Class A subordinate voting share in Verses and one-half of a Class A share purchase warrant.

According to the release, certain company insiders purchased an aggregate of 80,000 units under the first tranche.

Verses intends to use net proceeds from the raise for working capital as it builds out the deployment of its flagship Wayfinder AI app and works to open its COSM AI OS marketplace.

The company recently announced it had expanded its Wayfinder deal with NRI, a North American leader in ecommerce and warehouse fulfillment, as well as inking a partnership with Tompkins Ventures, a globally recognized logistics and supply chain consultancy firm.

Gabriel Rene recently spoke with Chris Parry on the Gauntlet to handle any hard questions in the following video:

Jody Vance also chatted with Gabriel to get a closer look at the company, its value proposition, and the growth potential for investors:

Verses currently trades at $0.98 per share for a market cap of $51.87 million.

–Gaalen Engen

Full Disclosure: Verses Technologies is an Equity.Guru marketing client