Versus Systems enters $2.5M funding and licensing deal with ASPIS to satisfy Nasdaq minimum equity rule

Versus Systems Inc.

ASPIS to invest $500K initially and $2M by Nov 15, 2024, via a senior convertible promissory note.
Conversion price set at greater of $1.16/share or 5-day VWAP; upon conversion ASPIS could own ~45.8% of common shares.
Versus grants ASPIS perpetual license to gamification tech for $165K/month starting Jan 2025; ASPIS funds modifications.
Deal is part of a Nasdaq compliance plan to meet the $2.5M minimum shareholders' equity requirement.
ASPIS is an affiliate of largest shareholder Cronus Equity Capital Group (39.5% stake); director Luis Goldner is also an ASPIS shareholder.

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