VERSES Technologies Inc. (“VERSES”) is pleased to announce that the Neo Exchange Inc. (the “NEO Exchange” or “NEO”) has granted final approval of VERSES’ listing application, and that VERSES will commence trading on the NEO Exchange tomorrow under the symbol VERS.
VERSES is an AI-as-a-Service provider specializing in the next generation of artificial intelligence that enables a new class of context-aware AI applications that can sense, understand, act, and adapt to dynamic conditions, situations, and environments. Their flagship platform, COSM, is an AI Operating System (AIOS) for developing and deploying AI apps and intelligent services that provides insight, prediction, and real-world optimization.
COSM™ powered AI apps are currently being deployed in industrial supply chain environments helping companies improve margins by optimizing labor efficiency, facility management, and worker experience, as well as in government-led smart city initiatives such as Flying Forward 2020 enabling autonomous drones to monitor threats, inspect buildings, and deliver assets across the European Union.
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“VERSES’ public listing is an exciting step for us as we bring to market smarter solutions capable of enabling AI-driven applications,” said Gabriel René, CEO and Co-Founder of VERSES. “As VERSES expects to expand into new industries, our listing gives us an opportunity to reach an increased number of investors and stakeholders who share in our excitement and connect with our vision to imagine a smarter world where AI applications can be easily deployed anywhere for anything by anyone.”
Among VERSES’ leadership is Chief Commercial Officer, Michael Wadden, who was a key part in the development of Accenture Digital (now Accenture Song) leads VERSES’ sales efforts that led to securing a multi-year contract with Third Party Logistics company, NRI Distribution. Under this contract, NRI Distribution has agreed to pay VERSES US$9M over six years, with such contract being renewed with the written confirmation of NRI Distribution for another US$17.5M payable over an additional five years. The aggregate fees of both terms is US$26.5M. Heading up VERSES’ R&D team is Dr. Maxwell Ramstead, a pioneer in developing a mathematical framework with origins in computational neuroscience. The Company’s board of directors was recently joined by Jay Samit, former Independent Vice-Chairman of business consulting firm, Deloitte, which penned an article describing the Spatial Web technologies that VERSES is building as fundamental to the “Next Era of Computing.”
VERSES listing on the NEO Exchange enables the Company’s Class A Subordinate Voting Shares (the “Subordinate Voting Shares”) to be traded on a senior exchange in Canada. The Subordinate Voting Shares are qualified by VERSES’ long-form non-offering prospectus, dated June 21, 2022
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