Versus Systems Inc. (NASDAQ:VS, CSE:VS) said it has recently secured a strategic investment from Yat Siu, the executive chairman and co-founder of multi-billion-dollar digital entertainment company Animoca Brands and CEO of Outblaze Ltd.
Siu's investment, a private placement through his company Outblaze, reflects his support for the growth strategy and proprietary technology as the company further expands its partnerships and products into advertising, streaming media, and Web 3.0, Versus Systems said.
"Yat Siu is a visionary and strong advocate for revolutionizing audience engagement with interactivity and rewards-based media," Matthew Pierce, founder and CEO of Versus Systems said in a statement. "As a leader at the forefront of digital collectables, gaming, and Web 3.0, Yat is committed to transforming the way we engage with media content."
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The private placement between Siu and Versus was confirmed on September 30, 2022 and closed on October 6, 2022.
Siu purchased 6,184,382 shares at the September 29, 2022 market close price of $0.181 per share for a total of $1,119,373.14. The deal made Outblaze a 19.9% shareholder in Versus.
"Versus is now well-positioned to help shape the trends of interactivity and rewards in digital media," Yat Siu added. "It is making exciting changes to monetize fan experiences and advertising both in-venue and online and I look forward to the growth of its new product suite."
Versus Systems is an engagement and rewards company that makes live events, games, shows, and apps more fun to watch and play.
Contact the author at jon.hopkins@proactiveinvestors.com