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Versus Systems announces private placement

Video Platform Video Management Video Solutions Video Player

The company is looking to raise gross proceeds of up to $5 million through the sale of up to 27,777,778 units priced at $0.18 per unit.

Additional Information:

Company: Versus Systems
Website: http://www.VersusSystems.com
Stock Symbol: CSE: VS
Date Published: Dec 12, 2018
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Versus Systems has announced a brokered private placement.

The company is looking to raise gross proceeds of up to $5 million through the sale of up to approximately 27.8 million units (27,777,778) priced at $0.18 per unit.

Each unit consists of one share and one warrant with each warrant exercisable at $0.30 for 24 months.

The offering will be co-led by Canaccord Genuity and Haywood Securities, with the syndicate including Kingsdale Capital.

Concurrent with the brokered offering, the company is looking to raise gross proceeds of up to $1 million from a non-brokered private placement of up to approximately 5.6 million units (5,555,555) also priced at $0.18 per unit, with the same terms.

The net proceeds of the offerings will be used for expansion, business development and general working capital.

Versus Systems, Inc. has developed Winfinite - a proprietary in-game prizing and promotions engine that allows game publishers and developers to offer in-game prizing across various platforms including mobile, console, PC games, and streaming media.

Players can access their WINFINITE account from anywhere in the world.

Brands pay to place products in-game via Winfinite, and gamers compete for those prizes.

The shares are trading at $0.22.

For more information, please visit the company’s website at www.VersusSystems.com, contact Matthew Pierce, Founder and CEO, at 310-925-6373 or pierce@VersusSystems.com.

I’m Megan Edwards for Investmentpitch Media