Versus Systems Announces Voluntary Delisting From Canadian Securities Exchange

Rhea-AI Summary

Versus Systems Inc. plans to withdraw its common shares from the Canadian Securities Exchange (CSE) effective February 25, 2021, following its recent listing on the Nasdaq Capital Market. The company, which trades under the symbol VS on both Nasdaq and CSE, has been present on the CSE since 2016. Despite this withdrawal, Versus will maintain its listing on Nasdaq and the Frankfurt stock exchange. The company specializes in an in-game prizing platform that allows users to win real-world prizes through challenges in games and apps.

Positive

• Continued listing on Nasdaq enhances visibility and credibility.
• Proprietary platform allows integration into multiple gaming formats, broadening market reach.

Negative

• Withdrawal from CSE could limit access to certain Canadian investors.

LOS ANGELES, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Versus Systems Inc. (“Versus” or the “Company”) (Nasdaq: VS) (CSE:VS) (FRANKFURT:BMVB) today announced plans to withdraw its common shares from listing on the Canadian Securities Exchange (the “CSE”) effective February 25, 2021. Versus’ common shares (CUSIP 92535P808) have been traded on the CSE since 2016 under the symbol VS, the same as its Nasdaq symbol. Following the recent listing of its shares on the Nasdaq Capital Market, the Company has decided to withdraw from the CSE. Versus will continue to trade on the Nasdaq Capital Market under the symbol VS and on the Frankfurt stock exchange under the symbol BMVB and will continue to be a Canadian Reporting Issuer.

About Versus Systems

Versus Systems Inc. has developed a proprietary in-game prizing and promotions engine that allows publishers, developers, and creators of games, apps, and other interactive media content to offer real world prizes inside their content. Players, viewers and users can choose from among the offered prizes and then complete in-game or in-app challenges to win the prizes. The Versus platform can be integrated into mobile, console, and PC games, as well as streaming media and mobile apps. For more information, please visit www.versussystems.com or visit the official Versus Systems YouTube channel.

Investor contact:
Cody Slach, Sean McGowan
Gateway Investor Relations
949-574-3860
VS@gatewayir.com
or
press@versussystems.com

Disclaimer for Forward-Looking Information 

This news release contains certain forward-looking information and forward-looking statements within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward looking statements. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable law. 

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this press release.

FAQ

Why is Versus Systems withdrawing from the Canadian Securities Exchange?

Versus Systems is withdrawing to focus on its recent listing on the Nasdaq Capital Market.

When will Versus Systems' shares be withdrawn from the CSE?

The shares will be withdrawn effective February 25, 2021.

What trading symbols does Versus Systems use?

Versus trades under the symbol VS on Nasdaq and the CSE, and BMVB on the Frankfurt stock exchange.

What does Versus Systems do?

Versus Systems has developed a platform that allows games and apps to offer real-world prizes through user challenges.

How will the withdrawal from CSE affect investors?

The withdrawal may limit access for Canadian investors who trade on the CSE.