VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 13, 2016) - Versus Systems Inc., formerly Opal Energy Corp. (CSE:VS) (the "Company") is pleased to announced the Canadian Securities Exchange (the "Exchange") has issued a final exchange bulletin in connection with the Company's "fundamental change" transaction with Versus, LLC ("Versus"), which closed on June 30, 2016 as previously described in its news release dated June 30, 2016. Effective July 13, 2016, at market open, the common shares of the Company will commence trading under the new trading symbol "VS".
Versus, a Nevada corporation with offices in Los Angeles, is developing state-of-the art technology that allows video game publishers and developers to offer real-money and prize-based matches and tournaments featuring their games. This proprietary technology is currently being integrated into select games that are expected to be in market in the first half of 2017.
Versus recently completed a successful Electronic Entertainment Expo (E3) in Los Angeles, as well as a successful Licensing Expo in Las Vegas. They are working with multiple game publishers and developers to integrate the Versus game management platform with conditional payments into their games. Versus is also working with a group of companies that licence and manufacture both physical and digital goods. These licensing and manufacturing partners have offered to provide prizing for certain matches, as well as sponsoring matches where players may compete to win their products through the Versus platform.
Versus is also proud to announce that Careen Yapp has joined the team as a business development consultant and member of the Advisory Board. Ms. Yapp most recently served as Vice President of Business Development and Account Management for Gaikai, a division of Sony Computer Entertainment. Prior to her work at Gaikai and Sony, Careen worked at Konami Digital Entertainment, D3 Publisher of America, and THQ. She is a board member of the Entertainment Software Association Foundation (ESAF) and Women in Games international. She has also served as a member of the Licensing Industry Merchandisers Association (LIMA) Board, and the Game Connection Advisory Board. Ms. Yapp brings over seventeen years of experience in the interactive entertainment industry and has an extensive partnership network in both gaming and licensed goods. Versus is thrilled to have her joining the team.
Pursuant to the Company's stock option plan, the Company has granted stock options to acquire up to 6,288,971 common shares of the Company of which an aggregate of 3,449,000 were granted to certain directors and officers of the Company. Each of the stock options is exercisable for a five year term expiring on July 13, 2021 and exercisable until that time at a price of $0.27 per common share. The stock options are subject to varied vesting provisions. The stock options, and any common shares issued upon the exercise of the stock options, are subject to a four month resale restriction expiring on November 13, 2016
Also pursuant to the Company's stock option plan, the Company further announces the cancellation of 950,000 existing stock options.
About Versus
Versus, a Nevada corporation with offices in Los Angeles, is developing state-of-the art technology that allows video game publishers and developers to offer real-money and prize-based matches and tournaments featuring their games. This proprietary technology is currently being integrated into select games that are expected to be in market in the first half of 2017.
Reader Advisory
Certain statements in this release are forward-looking statements, which include regulatory approvals, development of technology, timing of completion of technology and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward looking statements will not occur. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company including the development of its technology, including the effectiveness of the technology. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include consumer sentiment towards the Company's technology, technology failures, competition, and failure of counterparties to perform their contractual obligations and other risks detailed from time to time in the filings made by the Company in securities filings.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The Canadian Securities Exchange has not reviewed, nor approved the content of the contents of this news release.
Contact Information:
Matthew Pierce
CEO
T: (424) 247-6373
pierce@versussystems.com