Versus Systems Completes Corporate Continuance and Securities Issuance

Versus Systems Inc. (NASDAQ: VS) recently announced the outcomes of its special meeting of shareholders held on December 18, 2024. At the meeting, the company presented and received approval for two key proposals.

The first proposal, a special resolution authorizing and approving the continuance of Versus Systems from the Province of British Columbia to the State of Delaware, was passed with a substantial majority. The vote results were as follows:

– For: 1,087,314 shares
– Against: 8,737 shares
– Abstain: 0 shares

The second proposal, involving the authorization and approval of the issuance of 2,155,172 common shares, warrants for an additional 1,077,586 shares, and shares upon the conversion of a promissory note held by ASPIS Cyber Technologies, Inc., a major shareholder, was also approved. The voting results were as follows:

– For: 1,05,836 shares
– Against: 40,215 shares
– Abstain: 0 shares

Following the approval of the first proposal, Versus Systems completed the process of continuance into the State of Delaware on December 18, 2024. Additionally, the issuance of securities as authorized by the second proposal was completed on December 23, 2024. These securities include warrants allowing the holder to purchase one-half of one common share at a predetermined price.

The securities issuance was done in compliance with Section 4(a)(2) of the Securities Act of 1933, exempting it from registration requirements. As per the filing, a copy of the Company’s Certificate of Corporate Domestication and Certificate of Incorporation has been included.

In related news, Exhibit 99.1 of the filing provides information on The Glimpse Group, Inc.’s recent registered direct offering, which raised approximately $7.29 million. The offering involved the sale of 2.75 million shares of common stock and/or pre-funded warrants at a price of $2.65 per share. The proceeds from this offering are expected to support the company’s operations and growth strategy in the Immersive industry.

Investors and stakeholders are encouraged to refer to the full SEC filing for further details on these developments and their implications for Versus Systems.

The securities offered are pursuant to a shelf registration statement filed with the SEC. Any further details regarding the offering can be obtained from the SEC’s website or relevant parties involved in the transaction.

This press release contains forward-looking statements based on current expectations, which may involve risks and uncertainties. It’s advised for investors to refer to the complete filing for a comprehensive understanding of the recent company activities and its potential impact on the market.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Versus Systems’s 8K filing here.

Versus Systems Company Profile

Versus Systems Inc develops and operates a business-to-business software platform in the United States and Canada. The company offers eXtreme Engagement Online platform that is designed primarily for in-venue main-board work in stadiums and arenas; Filter Fan Cam (FFC) platform, an augmented reality filtering tool that can be used for mobile and in-venue applications; and Winfinite, which allows brands, media companies, and advertising agencies to reach out to customers directly on their mobile devices.