Artificial Intelligence
VERSES Closes $5M Tranche and Announces Upsize of Convertible Debenture Financing
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VANCOUVER, British Columbia, March 01, 2023 (GLOBE NEWSWIRE) — VERSES Technologies Inc. (NEO:VERS) (OTCQX:VRSSF) (“VERSES” or the “Company”), a cognitive computing company specializing in the next generation of Artificial Intelligence (AI) solutions, is pleased to announce that further to its news release dated February 27, 2023, it has raised gross proceeds of C$5,001,409 under the first tranche of its non-brokered private placement (the “Private Placement”) of unsecured convertible debentures units of the Company (“Units”) comprised of Convertible Debentures (as defined herein) and Warrants (as defined herein) through the sale of unsecured convertible debentures of the Company (“Convertible Debentures”) in the principal amount of C$5,001,409 and 1,742,979 detachable warrants (“Warrants”) to purchase Class A Subordinate Voting shares of the Company (“Shares”). Please see the Company’s news release dated February 27, 2023 for additional details regarding the terms of the Private Placement.
The Company is also pleased to announce that it has increased the size of the Private Placement for aggregate proceeds of up to C$7,500,000. Closing of additional tranches of the Private Placement remain subject to acceptance by the Neo Exchange Inc. (the “NEO”). The proceeds from the Private Placement are intended to be used for general working capital purposes. All securities issued pursuant to the Private Placement are and will be subject to a four month hold period from the date of issue.
Under the first tranche of the Private Placement, VERSES paid fees to eligible finders consisting of: (i) C$261,360; and (ii) 303,907 broker warrants (the “Broker Warrants”). Each Broker Warrant will entitle the holder thereof to acquire one Share at an exercise price of C$1.00 until August 15, 2025 or on such other terms as required by the NEO.
The Units were offered to investors as both Canadian dollar denominated units and United States dollar denominated units and as such, the aggregate proceeds from the initial tranche of the Private Placement were determined in part by reference to the daily average exchange rate of USD$1.00:C$1.3573 on February 27, 2023 as reported by the Bank of Canada.
About VERSES
VERSES is a cognitive computing company specializing in next-generation Artificial Intelligence. Modeled after natural systems and the design principles of the human brain and the human experience, VERSES’ flagship offering, KOSM™, is a network operating system enabling distributed intelligence. Built on open standards, KOSM transforms disparate data into a universal context that fosters trustworthy collaboration between humans, machines, and AI, across digital and physical domains. Imagine a smarter world that elevates human potential through innovations inspired by nature. Learn more at VERSES, LinkedIn, and Twitter.
On Behalf of the Company
Gabriel René
VERSES Technologies Inc.
Co-Founder & CEO
[email protected]
Media and Investor Relations Inquiries
Leo Karabelas
Focus Communications
President
[email protected]
416-543-3120
The NEO has not reviewed or approved this press release for the adequacy or accuracy of its contents.
Forward-Looking Statements Cautionary Note
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward-looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things, the securities offered under the Private Placement, the completion of additional tranches of the Private Placement and the use of proceeds from the Private Placement. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will obtain approval of additional tranches of the Private Placement from the NEO in a timely manner.
These forward-looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks relating to the Company being unable to obtain approval of the Private Placement from the NEO, unanticipated costs and other risk factors disclosed in the Company’s disclosure record on www.sedar.com under the Company’s profile. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
Artificial Intelligence
THE 2024 GLOBAL EXPLORATION SUMMIT IS ANNOUNCED AT THE 120th EXPLORERS CLUB ANNUAL GALA IN NEW YORK
Porto and Terceira Island to Host the ‘Davos of Exploration’ – The GLEX Summit
NEW YORK, April 24, 2024 /PRNewswire/ — The Explorers Club and Expanding World, are thrilled to announce the fifth edition of The GLEX Summit, known as the ‘Davos of Exploration,’ set to take place from June 15 to 19 on Porto city and Terceira Island in the Azores, Portugal.
This year, Porto will Ignite the summit, followed by two days of discussions and exploration in the historic city of Angra do Heroísmo on Terceira Island. From the depths of the oceans to new space missions, the power and future of exploration will be explored in these two World Heritage cities, deeply connected to the history of exploration.
The 2024 GLEX Summit will revolve around the latest discoveries and groundbreaking missions shaping the future of our planet. Highlights of the summit include the Artemis mission, which plans to send astronauts back to the moon for the first time since 1972, and the role of Space and the Oceans in researching and mitigating the effects of climate change. Notable sessions will also delve into the unfortunate incident of the submersible implosion that took place on Titan and the recording of an episode of the BBC’s acclaimed science comedy show ‘The Infinite Monkey Cage,’ hosted by physicist Brian Cox and comedian Robin Ince.
This prestigious event will bring together over three dozen explorer and scientist legends from around the world. Confirmed physicist and researcher Brian Cox, NASA Chief Scientist James Garvin, Aquanaut Fabien Cousteau, Oceanographer David Gallo, Cosmonaut Mike Massimino, Nasa ISS CapCom Tess Caswell, among many others global Explorers and Scientists.
For further inquiries about The GLEX Summit and press accreditation, please contact:
Marco Barbosa [email protected], +351917345744
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Hillstone Networks delivers advanced Microsegmentation across different verticals..
SANTA CLARA, Calif., April 24, 2024 /PRNewswire/ — Hillstone Networks, a leading provider of cybersecurity solutions, has been included in the Forrester Microsegmentation Solutions Landscape, Q2 2024 report. The report offers an overview of the Microsegmentation market, focused on the vendors who deliver solutions for protection of critical resources, combating ransomware, and contributing to compliance adherence. The report provides security professionals a snapshot of these named vendors, considering factors such as size, geographic focus, and use cases to select the most suitable option for their targeted use cases or needs.
In the Landscape Report, Forrester states that “Zero Trust is all about replacing bodies of implicit trust with explicit policy. In physical and virtual networks, the application of this principle is referred to as microsegmentation…. [It] was one of the first true Zero Trust technologies developed after Forrester published the initial Zero Trust reports.”
Forrester states in the report that the main trend is “organizations are finally getting serious about Zero Trust. Some, proactively, are implementing microsegmentation as part of a Zero Trust strategy or initiative. Others are implementing it because they got hit by ransomware and are trying to avoid it again. But all of them are doing Zero Trust with microsegmentation.”
“Being recognized as a vendor in the Microsegmentation solution landscape underscores for us the pivotal role our technology plays in safeguarding critical assets and thwarting ransomware threats. We believe it reaffirms our commitment to providing cutting-edge security measures built on an innovative and AI-powered platform that help our customers defend against evolving cyber risks, ensuring resilience and trust,” states Tim Liu, CTO and Co-founder at Hillstone Networks.
Hillstone’s Microsegmentation solution provides the following key benefits:
Advanced and extensive Microsegmentation for physical servers, virtual machines, cloud hosts, and containers, seamlessly compatible with multiple platforms.Comprehensive, integrated Layer 4 to 7 security and malware features (Next Generation Firewall, Intrusion Prevention System, AntiVirus, URL filtering, DDoS, and bot defense), and complete vulnerability management across the entire application lifecycle.Distributed architecture for easy scaling and portability.Centralized and comprehensive visibility to reduce gaps in the threat surface.Learn more about Hillstone Networks solutions here.
About Hillstone Networks
Hillstone Networks’ Integrative Cybersecurity approach is based on a visionary, AI-powered, and accessible platform, delivering coverage, control, and consolidation to secure over 28,000 global enterprises.
Media ContactZeyao Hu+1 [email protected]
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Artificial Intelligence
Tetra Pharm Technologies and Glysious Announce Collaboration to Develop Transdermal Combination Drugs Targeting the Endocannabinoid System
The collaboration brings together Tetra Pharm Technologies’ expertise in enabling technology with Glysious’ proprietary transdermal drug delivery system, renowned for its effectiveness, comfort, and convenience.
COPENHAGEN, Denmark, April 24, 2024 /PRNewswire/ — Tetra Pharm Technologies and Glysious are pleased to announce a strategic collaboration aimed at developing a ground-breaking transdermal drug delivery system complementing several of Tetra Pharm Technologies’ pipeline candidates. The joint invention aims to revolutionize transdermal release of “difficult-to-formulate” compounds targeting the endocannabinoid system.
Tetra Pharm Technologies has focused intensively on formulation expertise, that is, how the molecules are effectively integrated with a drug delivery system to reach their desired targets. Glysious has worked rigorously on the development of an adhesive patch for transdermal drug delivery since the company’s incorporation in 2020.
“The Glysious technology enables precision, sustained dosing, and allows for a high drug load and effective emptying of patches. The transdermal patches remain in place and are very comfortable and convenient to use, resulting in improved patient compliance. However, we have identified challenges with standard formulation strategies, not providing acceptable drug release due to shortcomings of the formulation matrix”, says Professor, Dr.Techn. Anne Ladegaard Skov, Chief Scientific Officer, Glysious.
Back in 2023 Glysious and Tetra Pharm Technologies performed early in-vitro feasibility tests, integrating Tetra Pharma Technologies’ proprietary enabling technology for delivery of poorly soluble compounds with Glysious’ patch.
Dr. Morten Allesø, Chief Scientific Officer, Tetra Pharm Technologies, adds: “Although both parties were aware of the uniqueness of our respective technologies, we were positively surprised to find a five-fold increase in performance of our combination product compared to conventional formulation technologies. This is truly remarkable, and we consider it our shared obligation to further advance this technology to the benefit of the patients.”
The objectives of the collaboration include conducting comprehensive in-vitro and in-vivo studies to evaluate the performance and efficacy of the combined drug delivery system. Additionally, Tetra Pharm Technologies and Glysious plan to pursue a common patent for the joint invention, ensuring that their innovative technology remains protected and exclusive.
“We are excited to collaborate with the innovative team in Tetra Pharm Technologies on this transdermal drug delivery system paving the way for commercialization and scaling of the Glysious technology within the pharma segment”, says Stina Bjerg Nielsen, Chief Executive Officer, Glysious.
Martin Rose, Chief Executive Officer, Tetra Pharm Technologies, concludes: “The collaboration represents a unique opportunity to harness the synergies between our respective technologies. By combining our expertise, we aim to develop a transdermal drug delivery system that offers superior efficacy, convenience, and patient compliance, supporting several of our pipeline programs”.
As part of the collaboration, the partners will exchange expertise, knowledge, and resources. In addition, Tetra Pharm Technologies and Glysious will conduct joint research, experiments, and tests as required for the development of a joint patent. The scope of the collaboration is focused on disease indications such as pain, sleep disorders, and appetite regulation.
About Tetra Pharm Technologies
Tetra Pharm Technologies is a Danish biopharmaceutical company established in 2018 with a vision to be a leader in research and development of pharmaceutical drugs for the treatment of diseases related to the endocannabinoid system. For more information, please visit www.tetrapharm.eu
About Glysious
Glysious is a Danish medtech company, incorporated in 2020, that develops patches, creams, spray, and foams with controlled release of active ingredients for cosmetics and life science applications. For more information, please visit www.glysious.com
For further informationJacob SchlundtChief Marketing OfficerTetra Pharm [email protected]+45 51976225
Stina Bjerg NielsenChief Executive [email protected]+45 3053 5393
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