Versus Systems completes $2M private placement

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By CPE News

Vancouver (pcJ News Briefs) – Versus Systems, Inc. (CSE: VS; OTCQB: VRSSF; FSE: BMVA) has closed a non-brokered private placement of 8 million units at a price of $0.25 per unit for gross proceeds of $2 million.

Each unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $0.40 per share at any time within 5 years of the date of issuance.

Certain directors and officers participated in the offering by purchasing an aggregate of 100,000 units.

Versus Systems intends to use the net proceeds to continue its product integrations with game development and prizing partners and general working capital purposes. It also intends to use the proceeds for additional technology development efforts including intellectual property filings around its in-game prizing and promotions platform.

photo credit: Versus Systems