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Verses AI Inc
Symbol VERS
Shares Issued 86,505,603
Close 2024-03-18 C$ 1.60
Market Cap C$ 138,408,965
Recent Sedar Documents

Verses AI appoints Kipman as adviser

2024-03-18 11:51 ET - News Release

Mr. Gabriel Rene reports

VERSES NAMES ANALOG CEO ALEX KIPMAN AS STRATEGIC ADVISOR & CLOSES US$2M INVESTMENT

Alex Kipman, chief executive officer and founder of Analog AI, has joined Verses AI Inc. as a strategic adviser.

Mr. Kipman spent over two decades at Microsoft, most recently in the role of corporate vice-president/technical fellow, mixed reality and artificial intelligence. While in this role, he created and built several versions of HoloLens, Windows Virtual Reality, Azure Mixed Reality Services and Microsoft Mesh. In doing so, Mr. Kipman helped shape the go-to-market strategy and curated an ecosystem of partners to manage the system from development to manufacturing to distribution. Mr. Kipman specializes in artificial intelligence, augmented reality/virtual reality and edge computing and is a TED Talk speaker.

Additionally, Mr. Kipman was one of Time magazine's 100 most influential people in the world in 2011; and he was named 2012's Inventor of the Year by Intellectual Property Owners Education Foundation. In 2021, a paper he co-authored received the Longuet-Higgins Prize from the Pattern Analysis and Machine Intelligence (PAMI) technical committee at the Conference on Computer Vision and Pattern Recognition for fundamental contributions to computer vision.

Currently, Mr. Kipman is the founder and chief executive officer of Analog AI, a new AI company focused on edge computing solutions that seamlessly connect people, places and things through the use of smart sensors and mixed reality devices. Across all sectors, Analog's approach to AI hopes to ensure that technological advancements are not just about efficiency and convenience but about enriching human experiences and fostering a more connected and mixed world.

"We are excited to engage Alex as an adviser and to leverage his relationships and years of experience," said Gabriel Rene, founder and chief executive officer of Verses. "Alex is a renowned strategic leader and a specialist when it comes to edge computing, spatial computing and machine learning who has partnered with nations and corporations to help artificial intelligence, edge computing and the Internet of Things (IoT) reach their full potential while working towards our shared vision of creating a better, smarter tomorrow."

"I have been impressed with the work from Verses and I truly believe they are on the frontier of AI," said Mr. Kipman. "Their platform aims to aid in creating intelligence from real-time sensor data, which I believe will be the next evolution in pursuit of a connected, smarter world."

The company previously announced on Jan. 18, 2024, a partnership with Analog to transform Abu Dhabi's urban landscape through smart city projects. This advisory agreement includes smart city projects as well as leveraging strategic relationships across the region. Separately, the company also announces that Verses Technologies USA Inc. (the borrower), a wholly owned subsidiary of the company, has accepted an interest-free loan in the amount of $2-million (U.S.) from two arm's-length investors for $1-million (U.S.) each. The loan matures on the earlier of: (i) March 10, 2025; and (ii) the date Verses completes a bona fide transaction or series of transactions with the principal purpose of raising capital, pursuant to which Verses issues and sells its securities to one or more bona fide third parties. On the maturity date, the borrower may elect to repay loan by way of cash or through the issuance of Class A subordinate voting shares in the capital of the company at a per-share price equal to the price of the securities issued in the equity financing, subject to the approval of Cboe Canada Inc.

About Verses AI Inc.

Verses AI is a cognitive computing company specializing in biologically inspired distributed intelligence. The company's flagship offering, Genius, is patterned after natural systems and neuroscience. Genius can learn, adapt and interact with the world. Key features of Genius include generalizability, predictive queries, real-time adaptation and an automated computing network. Built on open standards, Genius transforms disparate data into knowledge models that foster 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.

We seek Safe Harbor.

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