Versus Systems Enters Agreements with ASPIS Cyber Technologies for Nasdaq Compliance Plan and to Strengthen Compliance and Technology Offerings

The first agreement, a Business Funding Agreement (the “Funding Agreement”), provides for ASPIS to invest $2.5 million in Versus Systems. Under the Funding Agreement, ASPIS has initially invested $500,000, and on or before November 15, 2024, ASPIS will invest the balance of $2,000,000. In exchange for the investment, the Company has issued ASPIS an unsecured convertible promissory note with a principal balance of $2,500,000 (or such lesser amount if less is funded) (the “Note”).The Note is convertible into units with each unit comprised of one common share and one warrant to purchase one half of one common share at an exercise price of $4.00 per share. The Note may also be paid in cash at the option of ASPIS. The Note will not be convertible by the holder unless and until the Company obtains approval from its shareholders of the issuance of the equity under the Note and of the Company’s redomiciling to Delaware. The conversion price for the Note will be at least $1.16 but will be determined by the greater of (1) the 5-day volume-weighted average price, including the date prior to the initial funding, and (2) $1.16. The Company anticipates that it will hold its annual meeting to seek shareholder approval in December 2024. The Note is a senior note and will bear simple interest on the amounts funded at the rate of ten percent (10%) per annum. Read More

Versus Systems Enters Agreements with ASPIS Cyber Technologies for Nasdaq Compliance Plan and to Strengthen Compliance and Technology Offerings

Versus Systems Enters Agreements with ASPIS Cyber Technologies for Nasdaq Compliance Plan and to Strengthen Compliance and Technology Offerings

Versus Systems Enters Agreements with ASPIS Cyber Technologies for Nasdaq Compliance Plan and to Strengthen Compliance and Technology Offerings

Versus Systems Enters Agreements with ASPIS Cyber Technologies for Nasdaq Compliance Plan and to Strengthen Compliance and Technology Offerings

Versus Systems Enters Agreements with ASPIS Cyber Technologies for Nasdaq Compliance Plan and to Strengthen Compliance and Technology Offerings