17:24:06 EDT Fri 12 Aug 2022
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Verses Technologies Inc
Symbol VERS
Shares Issued 40,382,512
Close 2022-07-27 C$ 0.98
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Verses forms operating partnership with Tompkins

2022-07-27 11:03 ET - News Release

Mr. Gabriel Rene reports


Verses Logistics Inc., a wholly owned subsidiary of Verses Technologies Inc., has entered into an operating partner agreement with Tompkins Ventures, an executive supply chain matchmaking firm, to introduce Verses and its technology to companies within the supply chain industry to help accelerate the adoption of Verses' technology portfolio. Tompkins Ventures will receive a percentage-based commission on each successful business arrangement entered into by Verses and a company introduced by Tompkins Ventures.

Founded in 2020 by Dr. Jim Tompkins, Tompkins Ventures was established to help supply chain businesses create value by matching them with Dr. Tompkins's international network of hundreds of commercial partners, capital partners and consulting partners across the supply chain. Addressing the challenges of entrepreneurial growth, facilities development, logistics partnerships, technology and leadership, Tompkins Ventures specializes in guiding logistics companies through the challenges that stand in the way of growth. Previously, Dr. Tompkins founded Tompkins International, a global supply chain consulting firm where he served as chief executive officer and chairman of the organization for over 40 years, where he designed industrial facilities and automated materials handling systems; implemented supply chain information technology solutions; and worked to enhance the performance of many 3PLs and 3PL (third party logistics) clients. His focus over the last several years has been in the areas of digital commerce, unichannel and supply chain reinvention. Dr. Tompkins has also written or contributed to more than 30 books and over 1,000 articles and has been quoted in hundreds of business and industry publications, relating to supply chain excellence.

"In the last half century, the supply chain has reinvented itself repeatedly to give us the modern supply chain we have today," said Gabriel Rene, founder and chief executive officer of Verses. "During that time, Jim Tompkins has invented, led or played a part in a number of key innovations, technology shifts and major trends across the supply chain. We are incredibly proud to have Jim's experience, vision and wisdom through this partnership with Tompkins Ventures."

"As is well reported throughout the media, there are two challenges facing the supply chain today -- labour and inflation. To address these issues, companies must be smarter in managing the end-to-end supply chain, and I believe Verses is approaching these challenges in an unprecedented but sorely needed new way," said Dr. Jim Tompkins, chairman and founder of Tompkins Ventures. "As I've gotten to know the team and the technology, I've been impressed by its potential to optimize labour in warehouses, define spatial capacity and apply AI [artificial intelligence] in new ways to drive supply chain resilience. Tompkins Ventures is excited to bring Verses to our global network and drive the adoption of their next-gen technologies."

About Verses Technologies Inc.

Verses is a next-generation AI company providing foundational technology for the contextual computing era. Modelled after natural systems and the design principles of the human brain and the human experience, Verses' flagship offering, COSM, is an AI operating system for enhancing any application with adaptive intelligence. Built on open standards, COSM transforms disparate data into a universal context that fosters trustworthy collaboration between humans, machines and AI, across digital and physical domains.

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