THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO
UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
LOS ANGELES, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Versus Systems, Inc. ("Versus" or the
"Company") (CSE:VS) (OTCQB:VRSSF) (FSE:BMVA) is pleased to announce that it has closed its previously announced
brokered private placement of Units (the “Offering”). A total of 9,987,655 Units were sold at a price per
Unit of $0.18 for aggregate gross proceeds of approximately $1.8 million. The Offering was co-led by Canaccord Genuity Corp. and
Haywood Securities Inc. and included Kingsdale Capital Markets Inc. (collectively, the “Agents”).
Each Unit consisted of one common share of the Company (each, a “Common Share”) and one common
share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at
an exercise price of C$0.30 for a period of 24 months from the closing date of the Offering.
In connection with the Private Placement, the Company paid the Agents an aggregate cash commission equal to
seven percent (7.0%) of the gross proceeds of the Offering. In addition, the Company issued 699,135 broker warrants (the
“Broker Warrants”) to the Agents, representing seven percent (7.0%) of the Units sold under the Offering. Each
Broker Warrant entitles the holder thereof to purchase one Common Share at a price of $0.18 for a period of 24 months from the
closing date of the Offering.
All securities issued pursuant to the Offering will be subject to a four month hold period in accordance with
applicable Canadian securities laws. The net proceeds of the Offering will be used for expansion, business development
activities and general working capital and corporate purposes.
About Versus Systems
Versus Systems, Inc. has developed Winfinite - a proprietary in-game prizing and promotions engine that allows game publishers and
developers to offer in-game prizing across various platforms including mobile, console, PC games, and streaming media. Brands pay
to place products in-game via Winfinite, and gamers compete for those prizes. For more information, please visit www.versussystems.com.
For more information on Versus Systems’ new platform, Winfinite, visit www.versussystems.com or visit Versus Systems' official
YouTube channel.
Matthew Pierce
pierce@versussystems.com
(310) 925 6373
This press release shall not constitute an offer to sell or solicitation of an offer to buy any of
the securities in the United States. The securities will not be and have not been registered under the United States Securities Act
of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons
absent registration or applicable exemption from the registration requirements of the United States Securities Act of 1933, as
amended.
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. In this news release, forward-looking
statements relate, among other things, to: the proposed use of proceeds from the Offering. 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.
