LOS ANGELES, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Versus Systems Inc. (“Versus” or the “Company”) (Nasdaq: VS) announced today that the Company recently secured a strategic investment from Yat Siu, the Executive Chairman and Co-Founder of multi-billion-dollar digital entertainment company Animoca Brands and Chief Executive Officer of Outblaze Limited. A strategic partner of Versus Systems, Animoca Brands is a global leader in digital entertainment, gaming, and Web 3.0 applications.
Mr. Siu’s investment, through his company Outblaze, reflects his support for Versus’ growth strategy and proprietary technology as the Company further expands its partnerships and products into advertising, streaming media, and Web 3.0.
The private placement transaction between Mr. Siu and Versus was confirmed on September 30, 2022 and closed on October 6, 2022. Per the terms of the agreement, Mr. Siu purchased 6,184,382 shares at the September 29, 2022, market close price of $0.181 per share, for a total USD $1,119,373.14. The transaction was completed at the at-then-market price, with no discounts and no warrants. Upon the issuance of the shares associated with this transaction, Outblaze became a 19.9% shareholder in Versus. Details of the deal were filed with the SEC in a Form 6-K on October 6, 2022.
“Yat Siu is a visionary and strong advocate for revolutionizing audience engagement with interactivity and rewards-based media,” said Matthew Pierce, Founder and CEO of Versus Systems. “As a leader at the forefront of digital collectables, gaming, and Web 3.0, Yat is committed to transforming the way we engage with media content.”
“Versus is now well-positioned to help shape the trends of interactivity and rewards in digital media,” added Yat Siu, Executive Chairman of Animoca Brands. “It is making exciting changes to monetize fan experiences and advertising both in-venue and online and I look forward to the growth of its new product suite.”
About Versus Systems
Versus Systems Inc. is an engagement and rewards company that makes live events, games, shows, and apps more fun to watch and play. Versus adds interactive games, polling, trivia, predictive elements, and other win conditions to existing entertainment - whether in-venue or online - making the content more contextual, personal, and rewarding. Versus works with world class sports teams, leagues, venues, entertainment companies, and other content creators to make engaging, rewarding experiences for fans all over the world. For more information, please visit www.versussystems.com or visit the official Versus Systems YouTube channel.
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