VANCOUVER, British Columbia, Aug. 14, 2024 (GLOBE NEWSWIRE) -- VERSES AI Inc. (CBOE:VERS) (OTCQB:VRSSF) (“VERSES” or the “Company”), a cognitive computing company developing next-generation intelligent software systems, today announced that third party logistics company NRI USA, LLC (“NRI”) will be upgrading to the GENIUS Beta program.

“NRI was an early adopter of our offerings and saw the vision of what our intelligent software can provide. Since we entered into a commercial agreement with them, our business model has evolved from an industry specific bespoke offering, to that of our current flagship platform offering, GENIUS. So naturally it makes sense to transition our relationship onto the GENIUS platform,” said Gabriel René, CEO of VERSES.

“It was great utilizing the early capabilities of Wayfinder but we need more than just routing capabilities. The 3PL and supply chain industry is more complex than ever and at times very unpredictable. The ability to apply our vast amounts of data to GENIUS’ reasoning capabilities is extremely exciting for our business. This will be a foundational element for when the more advanced Genius capabilities are released in the future, ” said Pete McKenna, CEO of NRI.

Due to the change of platform and the structure of the GENIUS offering, the existing SaaS contract dated August 25, 2021 is being voided by both parties and no further obligations are required on behalf of either party in respect of the SaaS contract. The two companies intend to enter into a new contract for GENIUS on terms being negotiated by the parties.

About VERSES

VERSES is a cognitive computing company building next-generation intelligent software systems modeled after the wisdom and genius of Nature. Designed around first principles found in science, physics and biology, our 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. Imagine a Smarter World that elevates human potential through technology inspired by Nature. Learn more at verses.ai, LinkedIn and X.

On behalf of the Company 

Gabriel René, Founder & CEO, VERSES AI Inc.

Press Inquiries: [email protected]

Investor Relations Inquiries 

U.S.,  Matthew Selinger, Partner, Integrous Communications, [email protected] 415-572-8152

Canada, Leo Karabelas, President, Focus Communications, [email protected] 416-543-3120

Cautionary Note Regarding Forward-Looking Statements

When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although VERSES believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. The forward-looking statements and information in this press release include, among other things, the statement regarding the Company and NRI expecting to enter into a new contract.