Versus Systems announces investment from Cronus Equity Capital

Versus Systems announced that the Company recently secured a strategic investment from Cronus Equity Capital Group. The Investment contemplates the issuance of up to 24,727,361 common shares of Versus to CECG representing approximately 51% of the Company’s issued and outstanding common shares of which 15,838,441 common shares were issued to CECG on November 22, 2023 and a further 8,888,920 common shares are expected to be issued to CECG next week. Per the terms of the agreement, CECG purchased the First Tranche at a price of $0.1618 per share, representing a premium to the five-day average Nasdaq Official Closing Price of $0.1578 per share, for a total USD $2,562,659.76. The Second Tranche will be completed at the same price per share. There were no warrants in the transaction.