Animoca Brands completes mutual investment with Versus, will integrate Versus’s in-game rewards technology
27 April 2020: Animoca Brands Corporation Limited (“Animoca Brands” or the “Company”) is pleased to advise that it has completed the mutual investment with Versus Systems Inc., (a company listed on the Canadian Securities Exchange; CSE: VS, OTCQB: VRSSF, “Versus") that was previously announced in the Company’s announcement of 15 August 2019 (the “Mutual Investment”). Additionally, Animoca Brands entered into a Master Services Agreement (the “Integration Agreement") to integrate Versus’s proprietary in-game rewards technology in certain games developed and published by Animoca Brands.
As completion of the Mutual Investment, Animoca Brands received 3,036,739 shares of Versus priced at C$0.23 per share at an exchange rate of US$1 to C$1.3969, and Versus received 4,327,431 shares of Animoca Brands priced at A$0.18 per share at an exchange rate of US$1 to A$0.6419, each issuance being equal in value to USD $500,000.
Versus enables game publishers and developers to offer in-game prizes across mobile, console, PC games, and streamed media, helping to increase the value for end-users and boosting retention rates.
Pursuant to the Integration Agreement, Animoca Brands and Versus will work together to integrate the real-world in-game rewards technology developed by Versus into selected Animoca Brands games. As consideration for the integration, Animoca Brands will receive US$250,000 in the form of 1,293,426 shares of Versus priced at C$0.27 per share.
All shares issued in connection with the Integration Agreement and Mutual Investment are free from lockup or other restrictions on their sale or transfer, except as required under Canadian Securities Exchange policies.
“Animoca Brands makes all kinds of amazing games with some of the world’s most recognizable and beloved characters, shows, and properties. We are excited to bring our in-game reward technologies to Animoca Brands’ players in Asia, in the US, and all over the globe” said Matthew Pierce, CEO of Versus.
Yat Siu, co-founder and chairman of Animoca Brands, commented: “Versus is developing solutions that are appealing and beneficial to game publishers and their users, and we are very excited about further collaboration opportunities as we commence the integration of Versus’s innovative rewards systems into our products.”
About Versus Systems
Versus Systems, Inc. has developed a proprietary in-game prizing and promotions engine that allows game publishers and developers to offer in-game prizing across mobile, console, PC games, and streaming media. Brands pay to place products in-game and gamers compete for those prizes. For more information, please visit www.versussystems.com or visit Versus Systems official YouTube channel.
For Versus Systems, contact:
About Animoca Brands
Animoca Brands leverages gamification, blockchain, and artificial intelligence technologies to develop and publish a broad portfolio of mobile products including games such as The Sandbox, Crazy Kings, and Crazy Defense Heroes as well as products based on popular intellectual properties such as Formula 1®, Garfield, Snoopy, Thomas & Friends™, Ever After High and Doraemon. Animoca Brands’ portfolio of blockchain investments and partnerships includes Lucid Sight, Dapper Labs (creators of CryptoKitties), WAX, Harmony, and Decentraland. The Company is based in Hong Kong, Canada, Finland, and Argentina. For more information visit www.animocabrands.com or get updates by following Animoca Brands on Facebook or Twitter.