Versus Systems Enters Agreements with ASPIS Cyber Technologies for Nasdaq Compliance Plan and to Strengthen Compliance and Technology Offerings

Quick Summary:

"This collaboration not only strengthens our financial position but also enhances our technological capabilities, allowing us to provide cutting-edge solutions in cybersecurity.” Under the terms of the agreements, assuming the Company receives shareholder approval of the issuance of equity under the Note and the Company’s redomiciling to Delaware, ASPIS could receive upon conversion of the Note and exercise of the warrants (assuming the final price is $1.16), 2,155,172 shares of common stock and warrants to purchase an additional 1,077,586 shares.

The second agreement, a Technology Licensing and Software Development Agreement (the "License Agreement”), enables ASPIS to license Versus Systems’ gamification, engagement, and QR code technology for integration into its cybersecurity offerings, particularly in sectors such as government, finance, gaming, and social media in exchange for a monthly license fee paid to the Company.

ASPIS is a Cloud Based Mobile Endpoint Cyber Security Technology Company for Anti Tapping, Antihacking within the Government, Finance, Gaming and Social Media sectors that provides cybersecurity technology for clients that include governments, municipalities, commercial entities, and consumers.

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Article Details

Author / Journalist: Versus Systems Inc.

Category: Technology

Markets: ChinaCanada

Topics: Nasdaq:VS Nasdaq:VSSYW Frankfurt:BMVB.F CA92535P8082

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-16 @ 05:40:00 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 1051 words

Reading Time: 6 minutes read

Sentences: 32 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © GlobeNewswire

News ID: 23083084

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