@ 8/13/2025: 125,000 @ C$8.66 OPTIONS EXERCISED: $1,082,500from VERS 8/14/2025 10K:
On July 3, 2025, 92,944 RSUs were converted into Class A Subordinate Voting Shares.
On July 11, 2025, the Company announced that the Company has closed its public offering of units (the “Offering”). Pursuant to the Offering, the Company raised gross proceeds of approximately CAD$9,573,758 (US$7,000,331) by issuing 1,007,764 units of the Company (the “Units”) at a price of CAD$9.50 (US$6.946) per Unit.
Each Unit is comprised of one Class A Subordinate Voting Share of the Company (a “Share”) and one-half of one Share purchase warrant (each whole Share purchase warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Share of the Company (a “Warrant Share”) at an exercise price of CAD$11.50 (US$8.409) per Warrant Share at any time until the date that is 36-month from the date of issuance, subject to adjustment in certain events.
The Offering was completed pursuant to an agency agreement dated July 9, 2025 between the Company, A.G.P. Canada Investments ULC and A.G.P./Alliance Global Partners. Each of A.G.P. Canada Investments ULC and A.G.P./Alliance Global Partners acted as co-lead agents, on behalf of a syndicate of agents including Imperial Capital, LLC and Haywood Securities Inc.
In connection with the Offering, the Company agreed to pay the agents up to a cash commission equal to the greater of CAD$400,000 and 7% of the gross proceeds of the Offering, and further agreed to issue to the agents up to such number of compensation warrants as is equal to an aggregate of 3.5% of the number of Units sold pursuant to the Offering (the “Compensation Warrants”). Each Compensation Warrant is exercisable into a Share at an exercise price of CAD$11.50 (US$8.409) per Share until the date that is 36 months after the date of issuance. The cash commission and the number of Compensation Warrants was reduced to 2.0% in respect to the portion of aggregate gross proceeds of the Offering attributable to subscribers identified by the Company. In addition, the Company paid a cash fee of US$250,000 and issued 75,000 corporate finance fee warrants to TriView Capital Ltd., a financial advisor of the Company, with such corporate finance fee warrants having identical terms to the Compensation Warrants.
On July 24, 2025, the Company granted 250,000 option shares to consultant “B” at an exercise price of CAD$8.66 ($6.35 at balance sheet rate), vesting on the grant date.
On July 28, 2025, 40,742 RSUs were converted into Class A Subordinate Voting Shares, providing the Company with CAD$1,082,500 ($793,750 at balance sheet rate) in proceeds from the exercise.
On July 29, 2025, 125,000 options shares granted to consultant “B” on July 24, 2025 were exercised.
On August 11, 2025, David Thomson (“Complainant”) made a motion with the Court seeking from VTU, Cyberlab and two directors/officers of the Company, an aggregate of $495,543 for attorney’s fees and related costs incurred by the Complainant after the May 17, 2024, final arbitration award. This motion is based on the Court’s judgment on May 28, 2025, which gave the Court discretion to award the Complainant attorney’s fees and expenses incurred by the Complainant after May 17, 2024. A hearing date has been set for April 21, 2026. The Company is currently evaluating this motion and intends to respond to it in due course.
On August 13, 2025, 125,000 options shares granted to consultant “B” on July 24, 2025 were exercised, providing the Company with CAD$1,082,500 ($793,750 at balance sheet rate) in proceeds from the exercise.
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