VERSES Strengthens Measures to Safeguard Shareholder Interests through ShareIntel’s Investigation and Due Diligence Services for Illegal Short Selling
VANCOUVER, British Columbia, February 8th, 2023 -- VERSES Technologies Inc. (NEO:VERS) (OTCQX:VRSSF) ("VERSES'' or the "Company”), a cognitive computing company specializing in the next generation of Artificial Intelligence (AI) systems and the developer of KOSM™, the world's first network operating system for enabling distributed intelligence, announced today that it has negotiated and executed a service agreement with ShareIntel Shareholder Services, LLC (“ShareIntel”), as part of its continued commitment to protecting investors and maximizing shareholder value.
“We believe this collaboration with ShareIntel will increase shareholder value by allowing VERSES to better monitor trading activity, including broker-dealer, clearing firm, and shareholder position management,” said Don Moody, VERSES General Counsel and Chief Legal Officer. “Through investigating reporting anomalies, we should be able to identify any suspicious, aberrant, and or usual trading activity, and implement action to protect investors from illegal naked short selling.”
Through ShareIntel’s patented, proprietary service offerings, VERSES is able to obtain trading analytic metrics that are designed to help coordinate, monitor and enhance corporate governance, shareholder communication, regulatory compliance, and surveillance of trading in the Company’s shares, allowing the Company to better monitor trading activity, including potential violations of SEC Regulation SHO, which governs stock and option share locate, close out, and fail to deliver requirements.
VERSES is committed to taking all necessary actions to protect the interests of its shareholders and will continue to work with ShareIntel and other partners to combat illegal short selling and ensure fair market conditions.
ShareIntel-Shareholder Intelligence Services, LLC (SIS) is a patented compliance driven SaaS retained by public companies to track shareholder ownership and monitor critical broker-dealer and shareholder movement. DRIL-Down™ identifies participants to potential abusive and illegal short selling providing actionable intelligence. www.shareintel.com
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
VERSES Technologies Inc.
Co-Founder & CEO
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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 effects of the Company’s collaboration with ShareIntel on shareholder value, the Company’s continued collaboration with ShareIntel and the Company’s ability to better monitor trading activity with ShareIntel. In making the forward- looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the use of ShareIntel will provide the expected benefits to the Company and its shareholders.
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’s inability to maximize the functionality of and benefits from ShareIntel’s tools and offerings, cyber security attacks, the loss of key personnel, the Company could face technology or software disruptions, 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.