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Versus Systems Provides Corporate Update

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Strengthened Balance Sheet and Reduced Cash Burn Provide Greater Flexibility for Strategic Growth Opportunities

Artificial Intelligence to Serve as Key Tenet of 2023 Product Development

LOS ANGELES, March 29, 2023 (GLOBE NEWSWIRE) — Versus Systems Inc. (“Versus” or the “Company”) (Nasdaq: VS) will host an investor webinar today, Wednesday, March 29, 2023, to provide an update on the Company and recent operational highlights. The webinar will begin at 2:00 p.m. PT (5:00 p.m. ET). Investors will be able to access the event here or in the investor relations section of the company’s website at https://ir.versussystems.com/.

Recent Financial Highlights

  • Operating cash burn now down to $550K/month, a 60% decrease from 2022 peak
  • Closed $2.1 million public offering on December 9, 2022
  • Recorded $4.4 million in warrants exercised for cash in February 2023
  • Closed $2.25 million registered direct offering on February 6, 2023

Recent Operational Developments

  • Expanding WINFINITE, an integrated consumer engagement platform that facilitates interactive and rewarded advertising solutions for consumer brands. The platform offers a library of games that are consumer-ready, with in-game prizing designed to improve customer engagement and boost consented first party data.
  • Launched 100-location QSR interactive advertising campaign in March 2023; that is driving increasing in-venue beverage sales by over 15%.
  • Expecting AI-enhanced developments in summer of 2023

Management Commentary

“The Versus balance sheet is stronger today than it has been since our early days on Nasdaq. The warrant exercises and recent financings give us an enhanced runway to execute our growth strategies in the year ahead, both with our current offerings and with our continued research and development in AI,” said Matthew Pierce, CEO of Versus Systems. “At the end of 2022 and going into 2023, we decreased our operating cash burn by 60%, and we continue to reduce operating costs to promote efficiency. In conjunction with our cost-cutting efforts, we have entered 2023 with an improved balance sheet with sufficient capital to fund our growth for the year ahead.

“As we progress further into 2023, we aim to support organic growth through continued product development and innovation, while being opportunistic with potential inorganic growth opportunities as they arise. From a product development standpoint, we are placing particular emphasis on artificial intelligence—an area in which we have been filing patents for years—to bring machine learning and enhanced personalization to our gamification and reward capabilities. With our strengthened balance sheet, we also have greater flexibility to evaluate potential partnerships and acquisition opportunities that can expand the power and reach of our platform. We look forward to providing further updates on our strategic progress.”

About Versus Systems

Versus Systems Inc. is an engagement and rewards company that makes live events, games, shows, and apps more fun to watch and play. Versus adds interactive games, polling, trivia, predictive elements, and other win conditions to existing entertainment – whether in-venue or online – making the content more contextual, personal, and rewarding. Versus works with world class sports teams, leagues, venues, entertainment companies, and other content creators to make engaging, rewarding experiences for fans all over the world. For more information, please visit www.versussystems.com or visit the official Versus Systems YouTube channel.

Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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. 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

Investor Contact:
Cody Slach and Jackie Keshner
Gateway Group, Inc.
949-574-3860
[email protected]
or
[email protected]

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Artificial Intelligence

Cyber insurtech BOXX partners with Zurich Insurance Group in Switzerland to introduce breakthrough personal cyber product

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TORONTO, May 21, 2024 /PRNewswire/ — Award-winning global Insurtech BOXX Insurance Inc. that combines cyber insurance and security has announced the launch of a cutting-edge cyber risk solution in collaboration with Zurich Insurance Group in Switzerland, providing digital protection for individuals and families. 

Recognizing the critical need for comprehensive protection against digital threats Zurich Insurance in Switzerland has partnered with technology partner BOXX Insurance to develop a user-friendly solution designed to help individuals and families better predict and prevent potential scams and digital threats.
Designed for simplicity, the app’s personalized experience puts users’ digital safety front and centre, featuring an easy-to-use interface designed by Zurich Insurance in Switzerland and developed by BOXX in close collaboration with Zurich. The App is now available in Switzerland offering support in English, German, French and Italian.
“We created this to give individuals and families what they want – an app that delivers an essential bundle of tools at users fingertips including access to experts in the event of a cyber emergency,” explained Vishal Kundi, CEO and Founder, BOXX Insurance. “Smartphones have become the fastest-selling gadgets in history. They have penetrated every aspect of daily life. The average person picks their phone up to 100 times a day so if we want to make their world a digitally safer place, we have to ensure their phone and their usage is better secured,” Kundi added.
“An extensive research conducted by Zurich Insurance in Switzerland showed that many are not aware of online dangers and that around a quarter have already been victims of a cyber-attack. In addition, customers are simply overwhelmed with the range of cyber products,” says René Harlacher, Chief Underwriting Officer of Zurich Insurance in Switzerland. “At Zurich, it’s our mission to go beyond mere protection, and also offer our customers tools to help them build resilience and implement preventative measures against cyber risks. Based on these facts, we are expanding our cyber offering for private individuals so that we can provide them with support before, during and after a possible cyber-attack. This is exactly where our joint offering with BOXX Insurance comes in, as a way to lend additional support to our customers,” he adds.
The newly launched solution by Zurich Insurance in Switzerland focuses on providing essential services to help prevent digital threats combined with emergency assistance and support in case of an emergency. Delivered to end customers by Zurich, key features include:
Identity Protection: Identifies if personal data captured in the app shows up on the dark web and notifies users, providing help and advice to reduce threats of identity theft.Secure VPN: By creating a secure and encrypted internet connection the VPN protects data from potential threats such as hacking, identity theft, and phishing attacks. Secure WiFi: Scans WiFi networks for threats and helps proactively detect security issues.Safe Browsing: Warns against harmful websites and links to protect privacy and personal data.Device Protection: Checks and improves the security settings of devices. Devices with the Android operating system are additionally protected against viruses and malware.Password Manager: Creates and manages strong passwords and assists with their use.Edutainment: Educational content in an entertaining way to raise awareness of personal cyber security.Emergency Support and Assistance: Help and assistance from cyber security experts to provide support in cyber emergencies and for many other IT-related problems.   The new offering is available here: https://www.zurich.ch/en/private-customers/living-events/cyberprotection/insurance-prevention
“From providing protection from the dangers of being connected at home and on the go, customers now have the means to keep their devices and data secure and have access to indispensable help in an emergency, all in one easy-to-use app,” Kundi added.
Zurich has been working with BOXX since 2021 and participated in BOXX’s Series A and Series B funding rounds. As a Zurich Global Ventures portfolio company, BOXX is proud to now extend the ongoing collaboration with Zurich to enable Swiss customers to be digitally safer.
About BOXX Insurance 
BOXX Insurance Inc. helps businesses, individuals and families insure and defend against cyber threats. Privately-held with headquarters in Canada, BOXX has global offices in Toronto, Miami, Zurich, Dubai and Mumbai.
BOXX Insurance is an award-winning global cyber protection and insurance provider. We’re not a typical company. That’s by design. We’re serious about making the world a digitally safer place; creating real, positive changes for our clients and partners, and building a lasting legacy, from what we create, inside the BOXX.
Every day we’re improving the digital health of businesses, families and individuals around the world who rely on BOXX’s solutions and services to predict, prevent and insure them against cyber threats.
Media Contact: Sarah Madden, [email protected] 

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Amp Finalises Commercial Agreements for Cape Hardy Advanced Fuels Precinct

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ADELAIDE, Australia, May 21, 2024 /PRNewswire/ — Amp Energy (“Amp” or the “Company”) announced today it has finalised all required commercial agreements for the development of the Cape Hardy Advanced Fuels Precinct – one of the leading green hydrogen, green ammonia and advanced fuel projects in Australia. The agreements, which were executed with Iron Road Ltd, include the purchase of a 630-hectare parcel of land at Cape Hardy as well as finalised royalty structure and common user infrastructure agreement. Amp will continue to build upon development progress made since announcing the Strategic Framework Agreement with Iron Road Ltd in April 2023 to bring advanced fuel production capacity to Cape Hardy.

The Cape Hardy Advanced Fuels Precinct will provide production at scale with up to 10 GW of planned electrolyser capacity. Development will be structured to initially bring 1 GW online with incremental stages to reach 10 GW of total capacity.   The project will both cater to the domestic Australian market, supporting the Australian Government’s net zero goals, while also featuring global export capabilities.  To facilitate distribution, Cape Hardy will be equipped with Australia’s first purpose-built advanced fuels export terminal.   
Amp has been in discussions to develop the Cape Hardy Advanced Fuels precinct, in collaboration with Iron Road Ltd and The Government of South Australia, for the past two years. During that time, Amp has made significant development progress.  The project’s concept, design, and pre-Front End Engineering Design (FEED) phase have been studied and reviewed by two leading global engineering firms, Arup and Technip Technologies, as Amp targets completion of pre-FEED studies for the first 1 GW electrolyser phase over the next 9 months. FEED scoping and contracting is currently underway ahead of awarding the FEED contract in late 2024 or early 2025.
Desalinated water is to be sourced from the recently announced Northern Water Supply (NWS) seawater desalination plant that will be located at Cape Hardy to meet the project’s demand for electrolyser feed water, cooling water, process plant water, and fire water. Amp is co-funding pre-FID expenditures for the NWS project.
Additionally, Amp is working closely with the Barngarla Determination Aboriginal Corporation RNTBC (“BDAC”).  With continued support from the BDAC, Amp is confident the Cape Hardy Advanced Fuels Precinct will have a meaningful economic impact on the region.  Amp currently estimates this will include approximately 4,000 direct and 6,000 indirect jobs for the first gigawatt of electrolyser capacity alone.
“We are seeing growing demand for Advanced Fuels both in Australia and abroad. This includes green ammonia, liquid hydrogen, methanol, and sustainable aviation fuel. The Cape Hardy Advanced Fuels Precinct will allow for large-scale production of these fuels that will be critical to the energy transition and achieving net zero targets. We could not be more excited about the project’s potential impact, and we are grateful for the partnership and continued support from Iron Road Ltd, the South Australian Government and BDAC as we progress full steam ahead on development” said Paul Ezekiel, Amp President and Co-founder.
Minister for Trade and Investment, Joe Szakacs said “The State Government recognises the strategic importance of the Cape Hardy Advanced Fuels Precinct attracting investment into the state for domestic and export opportunities, as there is an increasing flight to quality for hydrogen projects worldwide.”
About AmpAmp Energy is a global energy transition development platform, which delivers renewables, battery storage, Advanced Fuels and green AI data centers at scale, together with proprietary AI-enabled grid flexibility through its Amp X platform. Since its inception 15 years ago, Amp has developed and built or contracted 14 GW of assets globally. Amp is backed by major investments from institutional capital partners including global private equity firm the Carlyle Group, who has invested over US$440 million. The company has global operations throughout North America, the UK, Australia, Japan, and Spain.
For more information, please visit amp.energy

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GEEKOM A8 AI PC is now available for €799 and up.

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TAIPEI, May 21, 2024 /PRNewswire/ — The GEEKOM A8, a highly anticipated Next-Gen AI mini PC with an AMD HawkPoint Ryzen 8040 processor, is now available.

The A8 employs a metal housing with rounded corners and anodized matte finish, giving it a gorgeous and stylish look. Having a footprint smaller than the palm of a hand, the mini PC will conveniently fit in all types of desktop arrangement and instantly elevate the aesthetics of any workspace.
There are two variants of the GEEKOM A8, users have the option to choose between two processors from the same AMD HawkPoint family: Ryzen 7 8845HS and Ryzen 9 8945HS. Both chips feature 8 Zen 4 CPU cores, 16 threads, 16MB L3 cache, an AMD Radeon 780M integrated GPU as well as a Ryzen AI Engine NPU, but the Ryzen 9 8945HS is designed to offer slightly better performance, thanks to its higher CPU and GPU frequencies.
With a greatly enhanced NPU, the A8 can execute 60% more AI workloads than mini PCs with last-generation Ryzen 7040 chips, allowing users to embrace a new era of AI computing. For average consumers, the A8 will quickly find answers to all questions and turn texts into images and videos. For business users, the A8 will automatically summarize notes, transcribe calls, and take meeting minutes. For professional content creators, the A8 will bring much faster AI-powered photo editing, quicker video output, and speedier multi-tasking, helping bring the most ambitious ideas to life. With the new IceBlast 1.5 cooling technology, the A8 can stay cool and stable even when tasks are loaded.
Besides its powerful performance, the A8 also offers a wide array of ports, including four USB-A (including three USB3.2 Gen2), two HDMI2.0, a 40Gbps USB4, a multi-function Type-C, an SDXC slot, and a 3.5mm audio jack. Users can choose to connect the mini PC to an eGPU, ultra high-speed portable storage, or up to four 4K displays.
The A8 is now available on GEEKOM’s independent website. The 8845HS and 8945HS variants are priced at €799 and €949 respectively. Regardless of the CPU option, each unit is preinstalled with 32GB dual-channel SO-DIMM DDR5-5600 RAM, a fast 1TB M.2 2280 PCIe4.0*4 SSD, a wireless card that supports WiFi 7 and Bluetooth 5.4, and a licensed copy of Windows 11 operating system.
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