Versus Systems Closes Second Tranche of Previously Announced Private Placement

Versus Systems (CSE:VS) announced that it has completed a second trance of its previously announced private placement of units at a price of $0.30 per unit by issuing 9,260,667 units for aggregate gross proceeds of $2,778,200.10.

The company has an aggregate gross proceeds of 12,259,667 units pursuant to the offering for aggregate gross proceeds of $3,677,900.10

As quoted in the press release:

Each Unit is comprised of one common share in the capital of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of $0.40 per share until 24 months following the relevant closing date.

The Offering was led by Eight Capital on behalf of a syndicate of agents that includes Canaccord Genuity Corp., Gravitas Securities Inc. and Leede Jones Gable Inc. (the “Agents”) pursuant to the terms of an agency agreement entered into by the Company and the Agents on March 29, 2018 and amended April 11, 2018.

The Company intends to use the net proceeds of the Offering to enhance marketing efforts and engineering resources and for general corporate and working capital purposes.

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