VERSES Announces Stock Option Grants

Rhea-AI Summary

VERSES Technologies Inc. (OTCQX: VRSSF) has granted 1,750,000 stock options to consultants at an exercise price of $0.70, valid for one year. Of these, 250,000 options will vest immediately, while the remaining 1,500,000 will vest 50% immediately and 50% after 60 days. VERSES is a provider of contextual computing platforms focused on next-generation AI solutions, emphasizing its flagship product, COSM™, which enhances applications with adaptive intelligence.

Positive

• Granting of 1,750,000 stock options, indicating potential growth and consultant engagement.
• Options priced at $0.70 may incentivize performance and align interests with shareholders.

Negative

• Dilution risk for existing shareholders due to the issuance of stock options.

VANCOUVER, British Columbia, Nov. 08, 2022 (GLOBE NEWSWIRE) -- VERSES Technologies Inc. (NEO:VERS) (OTCQX: VRSSF) ("VERSES'' or the "Company”), a contextual computing platform provider specializing in the next generation of artificial intelligence solutions, announces that it has granted an aggregate of 1,750,000 stock options to certain consultants of the Company pursuant to the Plan. All of the stock options will be exercisable to purchase one Class A Share at a price of $0.70 for a period of 1 year from the date of grant. 250,000 of the options will vest immediately upon the date of grant. 1,500,000 of the options will vest as follows: 50% immediately upon the date of grant, and 50% 60 days after the date of grant.

About VERSES

VERSES is a next-generation AI company providing foundational technology for the contextual computing era. Modeled after natural systems and the design principles of the human brain and the human experience, VERSES’ flagship offering, COSM™, is an AI Operating System for enhancing any application with adaptive intelligence. Built on open standards, COSM transforms disparate data into a universal context that fosters trustworthy collaboration between humans, machines, and AI, across digital and physical domains. Imagine a smarter world that elevates human potential through innovations inspired by nature. Learn more at VERSES, LinkedIn, and Twitter.

On Behalf of the Company
Gabriel René
VERSES Technologies Inc.
Co-Founder & CEO
press@verses.io

Media and Investor Relations Inquiries
Leo Karabelas
Focus Communications
President
info@fcir.ca
416-543-3120

FAQ

What stock options were granted by VERSES Technologies Inc. on November 8, 2022?

VERSES Technologies Inc. granted 1,750,000 stock options to consultants at an exercise price of $0.70.

How many stock options will vest immediately for VERSES Technologies Inc.?

Out of the 1,750,000 stock options granted, 250,000 will vest immediately upon the date of grant.

What is the exercise price of the stock options granted by VRSSF?

The exercise price of the stock options granted by VERSES Technologies Inc. is $0.70.

What is COSM™ offered by VERSES Technologies Inc.?

COSM™ is an AI Operating System designed to enhance applications with adaptive intelligence.