LOS ANGELES, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Versus Systems Inc. (“Versus” or the “Company”) (Nasdaq: VS) announced today that the Company recently secured a strategic investment from Yat Siu, the Executive Chairman and Co-Founder of multi-billion-dollar digital entertainment company Animoca Brands and Chief Executive Officer of Outblaze Limited. A strategic partner of Versus Systems, Animoca Brands is a global leader in digital entertainment, gaming, and Web 3.0 applications.
Mr. Siu’s investment, through his company Outblaze, reflects his support for Versus’ growth strategy and proprietary technology as the Company further expands its partnerships and products into advertising, streaming media, and Web 3.0.
The private placement transaction between Mr. Siu and Versus was confirmed on September 30, 2022 and closed on October 6, 2022. Per the terms of the agreement, Mr. Siu purchased 6,184,382 shares at the September 29, 2022, market close price of $0.181 per share, for a total USD $1,119,373.14. The transaction was completed at the at-then-market price, with no discounts and no warrants. Upon the issuance of the shares associated with this transaction, Outblaze became a 19.9% shareholder in Versus. Details of the deal were filed with the SEC in a Form 6-K on October 6, 2022.
“Yat Siu is a visionary and strong advocate for revolutionizing audience engagement with interactivity and rewards-based media,” said Matthew Pierce, Founder and CEO of Versus Systems. “As a leader at the forefront of digital collectables, gaming, and Web 3.0, Yat is committed to transforming the way we engage with media content.”
“Versus is now well-positioned to help shape the trends of interactivity and rewards in digital media,” added Yat Siu, Executive Chairman of Animoca Brands. “It is making exciting changes to monetize fan experiences and advertising both in-venue and online and I look forward to the growth of its new product suite.”
About Versus Systems
Versus Systems Inc. is an engagement and rewards company that makes live events, games, shows, and apps more fun to watch and play. Versus adds interactive games, polling, trivia, predictive elements, and other win conditions to existing entertainment - whether in-venue or online - making the content more contextual, personal, and rewarding. Versus works with world class sports teams, leagues, venues, entertainment companies, and other content creators to make engaging, rewarding experiences for fans all over the world. For more information, please visit www.versussystems.com or visit the official Versus Systems YouTube channel.
Investor Contact:
Cody Slach and Sophie Pearson
Gateway Investor Relations
949-574-3860
IR@versussystems.com
or
press@versussystems.com
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. 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 “expect”, 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. 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. 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. 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.
