Mr. Gabriel Rene reports

VERSES APPOINTS MICHAEL BLUM AS NEW CHAIR OF THE BOARD OF DIRECTORS AND JAY SAMIT INTO EXECUTIVE POSITION

Jay Samit is relinquishing his position as chairman of the board in order to take a position with Verses AI Inc. while concurrently appointing Michael Blum into the vacated chairman position. Mr. Samit's new role at Verses will be head of global partnerships, focusing on deploying Genius to systems integrators, channel partners, and business process outsource firms and strategic investors.

"With the strategic investment from G42, the IEEE working group approval of the Spatial Web standards, as well as the most recent research demonstrating technical scalability of the technology, Verses is at an inflection point and I feel that the timing is right for me to have a more direct impact by leveraging the relationships that I've built over my career to help bring Genius to market," said Mr. Samit.

"We want to thank Jay for his service as board chairman, but we are even more delighted that he will head up and nurture our key global partnerships," said Gabriel Rene, chief executive officer of Verses. "Jay's experience as a pioneering top executive in Fortune 500 companies and leading global consultancies, like Deloitte, combined with his extensive international contacts, will be an invaluable asset as we roll out Genius commercially.

"At the same time, I want to welcome Michael to the board and look forward to working with him at this exciting phase of Verses development," continued Mr. Rene. Mr. Blum is a co-founder and president of Hedgeye Risk Management, a premier independent investment research house, the customer base of which advises more than $10-trillion in assets and spans close to 100 countries. In 2014, Mr. Blum co-founded Firefly Space Systems, which designed and developed space launch vehicles for small payloads, working with, among others, NASA, DARPA and Boeing. Previously, Mr. Blum was co-founder and chief operating officer of hedge fund Falconhenge Partners LLC. Before his tenure on Wall Street, Mr. Blum spent seven years in Silicon Valley, including at Paypal developing business and product strategy. Mr. Blum received his bachelor of arts in economics and international studies (honours) from Yale University. "I am delighted to be joining the Verses board," said Mr. Blum. "Verses's nature-based approach to software is, I believe, paradigm shifting. It is going to change the economics of computing to allow for a whole new category of previously unattainable products and applications creating a safer, smarter world."

About Verses AI Inc.

Verses is a cognitive computing company building next-generation intelligent software systems modelled after the wisdom and genius of nature. Designed around first principles found in science, physics and biology, the company's flagship product, Genius, is a toolkit for developers to generate intelligent software agents that enhance existing applications with the ability to reason, plan and learn.

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