10:11 AM EST - VERSES AI Inc. : Announced that the Convertible Debentures held by Group 42 Holding Ltd, a leading UAE-based AI technology group, were converted in accordance with their terms into units of the Company. In June 2024, G42, through Expansion Project Technologies Holding 9 SPV RSC Ltd (EPTH), an indirect wholly-owned subsidiary of G42, invested US$10,000,000 via a private placement of unsecured convertible debenture units of VERSES. Each Original Unit consisted of: C$1,000 in principal amount of unsecured convertible debentures which bear an interest rate of 10% per annum; and 500 detachable share purchase warrants to purchase Class A Shares. VERSES AI Inc.
shares O.VRSSF are trading up 1 cent at $0.80.
Full Press Release: https://www.baystreet.ca/quotedata/quote.aspx?ticker=VRSSF&qmodStoryID=5667093414427091
