VERSES Names Renowned AI and Public Sector Leader Dr. David Bray to Chair Strategic Advisory Council
VANCOUVER, British Columbia, June 10, 2025 (GLOBE NEWSWIRE) -- VERSES AI Inc. (CBOE: VERS) (OTCQB: VRSSF) ('VERSES' or the 'Company'), a cognitive computing company specializing in next-generation agentic software systems, today announced the appointment of Dr. David Bray, Ph.D., as Chair of its newly formed Strategic Advisory Council. As Strategic Advisory Chair, Dr. David Bray is expected to assist the Company in assembling a council of experts across industry, policy, and technology, aimed at accelerating the Company's strategic growth and driving market adoption across both private and public sectors.
Dr. Bray is a globally recognized expert on AI, data, and cybersecurity. He was named one of the 'Top 24 Americans Changing the World' by Business Insider for his leadership in turbulent environments, national security, digital transformations, counter-bioterrorism, and public health. Dr. Bray has held executive roles across government, academia, and industry, he also led two successful bipartisan commissions on the future of AI, cybersecurity, biotechnology, commercial space endeavors, and quantum computing.
Dr. Bray previously served as IT Chief for the Bioterrorism Preparedness and Response Program during the responses to 9/11, anthrax, SARS, and other events; as well as Senior Executive and CIO of the FCC, a Senior National Intelligence Service Executive, and as a strategic advisor to multinational organizations navigating emerging technologies and complex global challenges. In 2023 he was elected as a member of the National Academy of Public Administration. He also received the Global CIO 100 award twice (2015, 2017)
'We are honored to have David on board to provide guidance and to lead our Strategic Advisory Council,' said Gabriel René, CEO of VERSES. 'David brings a rare mix of public and private leadership, scientific acumen, and systems-level thinking. His impressive track record working at the intersection of emerging technology, national security, and policy makes him the ideal Chair for our Advisory Council. We very much appreciate his leadership in helping to drive our global growth strategy.' 'I'm energized to help VERSES scale its technology to enhance the speed of decisions, adaptability, and resiliency of both companies and communities alike,' said Dr. David Bray. 'Having navigated numerous high-stakes environments, from protecting national security, to managing global health emergencies, to shaping the future of space systems, I've seen firsthand how complex challenges require systems that adapt quickly to a changing world, and in those moments, the ability to make swift, informed decisions with limited information is critical. What excites me about VERSES' Active Inference technology is that it is designed to help companies, communities, and countries make better decisions with less information, and it does so efficiently, bringing intelligence to the edge; right where it's needed most.'Dr. Bray currently serves as Chair of the Accelerator and Distinguished Fellow at the Stimson Center, Senior Fellow at the Institute for Human-Machine Cognition, and is an expert affiliated with MIT Horizon, the Oxford Internet Institute, and Harvard's Leadership for a Networked World Program. In 2019, the United Nations invited him to give the Distinguished AI address on Charter Day. He was also awarded the National Intelligence Exceptional Achievement Medal in 2013.
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 an agentic enterprise intelligence platform designed to generate reliable domain-specific predictions and decisions under uncertainty. 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: press@verses.ai Investor Relations Inquiries James Christodoulou, Chief Financial Officer
IR@verses.ai, +1(212)970-8889
Cautionary Note Regarding Forward-Looking Statements
This news release contains statements which constitute 'forward-looking information' or 'forward-looking statements' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and plans of the Company. Forward-looking information and forward-looking statements are often identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions. More particularly and without limitation, this news release contains forward–looking statements and information relating to the expectation that Dr. Bray will assist the Company in assembling a council of experts across industry, policy, and technology, aimed at accelerating the Company's strategic growth and driving market adoption across both private and public sectors; the expectation that Active Inference technology will put the power to make more reliable predictions with incomplete information into the hands of companies, communities, and countries; and other statements that are not historical facts.
The forward–looking statements and information are based on certain key expectations and assumptions made by the management of the Company. As a result, there can be no assurance that such plans will be completed as proposed or at all. Such forward-looking statements are based on a number of assumptions of management, including, without limitation, that Dr. Bray will successfully assist the Company in assembling a council of experts across industry, policy, and technology, aimed at accelerating the Company's strategic growth and driving market adoption across both private and public sectors; that Active Inference technology will put the power to make more reliable predictions with incomplete information into the hands of companies, communities, and countries. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward–looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward–looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, that Dr. Bray will not successfully assist the Company in assembling a council of experts across industry, policy, and technology, aimed at accelerating the Company's strategic growth and driving market adoption across both private and public sectors or at all; that Active Inference technology will not successfully put the power to make more reliable predictions with incomplete information into the hands of companies, communities, and countries and other risks detailed from time to time in the filings made by the Company in accordance with securities regulations. Accordingly, readers should not place undue reliance on the forward–looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.
The forward–looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward–looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
an hour ago
- Bloomberg
Shiseido Jumps as Much as 11% After Profit Beats Estimates
Shiseido Co. shares surged as much as 11% on Thursday morning, the most in nearly four months, after the company's second quarter profit beat estimates. Shiseido's operating profit was ¥10.9 billion ($73.8 million) for the three months ended June, according to a company statement Wednesday. That compares with the average analyst expectation of ¥7.9 billion.
Business Wire
an hour ago
- Business Wire
Civitas Resources Reinstates Capital Return Program
DENVER--(BUSINESS WIRE)--Civitas Resources, Inc. (NYSE: CIVI) ('Civitas' or the 'Company') today announced that its Board of Directors has authorized reinstating a capital allocation strategy prioritizing both peer-leading return of capital to shareholders and ongoing debt reduction. Future free cash flow, after paying the Company's $2 per share annual base dividend, is expected to be allocated equally to share repurchases and debt reduction on an annual basis. In support of the capital return program, the Board increased the Company's share repurchase authorization to $750 million, which represents approximately 28% of the Company's current market capitalization. As part of the 2025 capital return, the Company plans to enter into an accelerated share repurchase ('ASR') agreement to repurchase $250 million of Civitas' equity. Inclusive of paid and planned dividends and repurchases for the year, the Company's capital return to shareholders in 2025 is estimated to be approximately 21% of its current market capitalization. Board Chair Howard A. Willard III commented, 'We have taken decisive steps to strengthen Civitas, and following these important actions, we are reinstating an aggressive capital return program to take advantage of the compelling value we see in our equity today. Through the ASR program, we are targeting a rapid repurchase of a significant quantity of the Company's outstanding shares, and we are committed to returning capital to our shareholders moving forward, with an anticipated $500 million of remaining repurchase authorization following this initial ASR." Strategic steps taken to position Civitas for enhanced return of capital to shareholders include: Optimized 2025 free cash flow with a $150 million reduction in the Company's original capital expenditure plan Added 17 million barrels of oil hedges through the third quarter of 2026; Company is approximately 60% hedged on oil through the end of 2025 with a weighted average floor of $67 per barrel WTI Extended debt maturities and reduced revolving credit facility borrowings with $750 million issuance of unsecured Senior Notes due 2033 Implemented a $100 million cost optimization and efficiency project to sustainably lower capital and operating costs and improve margins, and Accelerated deleveraging with non-core DJ Basin asset divestments totaling $435 million, exceeding the Company's full-year target of $300 million With these accomplishments, net debt is anticipated to be $4.5 billion around year-end 2025, consistent with the Company's previously-communicated target. Under the ASR agreement, the Company is expected to commence repurchases promptly, with final settlement occurring within the third quarter. The Company will discuss its capital return program in more detail on its second quarter 2025 earnings webcast and conference call at 6:00 a.m. MT (8:00 a.m. ET) on Thursday, August 7, 2025. The webcast will be available on the Investor Relations section of the Company's website at The dial-in number for the call is 888-510-2535, with passcode 4872770. About Civitas Civitas Resources, Inc. is an independent exploration and production company focused on the acquisition, development and production of crude oil and liquids-rich natural gas from its premier assets in the Permian Basin in Texas and New Mexico and the DJ Basin in Colorado. Civitas' proven business model to maximize shareholder returns is focused on four key strategic pillars: generating significant free cash flow, maintaining a premier balance sheet, returning capital to shareholders, and demonstrating ESG leadership. Information Regarding Forward-Looking Statements Certain statements in this press release concerning Civitas' future expectations, beliefs, plans, objectives, financial conditions, assumptions, or future events or performance that are not historical facts are 'forward-looking' statements based on assumptions currently believed to be valid. The words 'anticipate,' 'believe,' 'ensure,' 'expect,' 'if,' 'intend,' 'estimate,' 'probable,' 'project,' 'forecasts,' 'predict,' 'outlook,' 'aim,' 'will,' 'could,' 'should,' 'would,' 'potential,' 'may,' 'might,' 'anticipate,' 'likely,' 'plan,' 'positioned,' 'strategy,' and similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify forward-looking statements. Specific forward-looking statements included in this press release include statements regarding the Company's plans and commitments with respect to its capital return program and the ASR agreement. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those anticipated, including, but not limited to: future financial condition, results of operations, strategy and plans; declines or volatility in the prices we receive for our crude oil, natural gas, and NGLs; general economic conditions, whether internationally, nationally, or in the regional and local market areas in which we do business, including any future economic downturn, the impact of continued or further inflation, disruption in the financial markets, the imposition of tariffs or trade or other economic sanctions, political instability, and the availability of credit on acceptable terms; the effects of disruption of our operations or excess supply of crude oil and natural gas and other effects of world events, and actions taken by OPEC+ as it pertains to global supply and demand of, and prices for, crude oil, natural gas, and NGLs; political conditions in or affecting other producing countries, including conflicts or hostilities in or relating to the Middle East (including the current events involving Israel and Iran), South America, and Russia (including the current events involving Russia and Ukraine), and other sustained military campaigns or acts of terrorism or sabotage and the effects therefrom; our ability to identify, select, and consummate possible additional acquisition and disposition opportunities; the ability of our customers to meet their obligations to us; our access to capital on acceptable terms; our ability to generate sufficient cash flow from operations, borrowings, or other sources to enable us to fully develop our undeveloped acreage positions and to meet our capital allocation initiatives; the presence or recoverability of estimated crude oil and natural gas reserves and the actual future sales volume rates and associated costs; uncertainties associated with estimates of proved crude oil and natural gas reserves; changes in local, state, and federal laws, regulations or policies that may affect our business or our industry (such as the effects of tax law changes, and changes in environmental, health, and safety regulation and regulations addressing climate change, and trade policy and tariffs); environmental, health, and safety risks; seasonal weather conditions as well as severe weather and other natural events caused by climate change; lease stipulations; drilling and operating risks, including the risks associated with the employment of horizontal drilling and completion techniques; our ability to acquire adequate supplies of water for drilling and completion operations; availability of oilfield equipment, services, and personnel; exploration and development risks; operational interruption of centralized crude oil and natural gas processing facilities; competition in the crude oil and natural gas industry; management's ability to execute our plans to meet our goals; our ability to attract and retain key members of our senior management and key technical employees; our ability to maintain effective internal controls; access to adequate gathering systems and pipeline take-away capacity; our ability to secure adequate processing capacity for natural gas we produce, to secure adequate transportation for crude oil, natural gas, and NGL we produce, and to sell the crude oil, natural gas, and NGL at market prices; costs and other risks associated with perfecting title for mineral rights in some of our properties; pandemics and other public health epidemics; and other economic, competitive, governmental, legislative, regulatory, geopolitical, and technological factors that may negatively impact our businesses, operations, or pricing. Additional information concerning other factors that could cause results to differ materially from those described above can be found under Item 1A. 'Risk Factors' and 'Management's Discussion and Analysis' sections in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, subsequently filed Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings made with the Securities and Exchange Commission. All forward-looking statements speak only as of the date they are made and are based on information available at the time they were made. The Company assumes no obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.
Business Upturn
an hour ago
- Business Upturn
North American Construction Group Ltd. Announces $2.0 Billion, Five-Year Contract in Queensland, Australia
ACHESON, Alberta, Aug. 06, 2025 (GLOBE NEWSWIRE) — North American Construction Group Ltd. ('NACG' or 'the Company') (TSX: today announced that the MacKellar Group ('MacKellar'), a wholly owned subsidiary of NACG, has been awarded an amended and extended five-year contract by an existing client, a leading coal producer in the state of Queensland, Australia. The extended mine services contract has an expiry date of April 30, 2030, provides total backlog of approximately $2.0 billion and is the largest contract signed in the Company's history. The extension results in an $800 million increase to backlog in relation to the original contract. The amendments introduce certain risk and reward mechanisms that contractually align NACG with the producer to consistently operate effectively. The contract does not contemplate growth capital with backlog values generally based on the existing run-rate of the mine. This incremental value results in total contractual backlog for the Company of $4.0 billion as of March 31, 2025, on a proforma basis, compared to the $3.2 billion reported in the 2025 Q1 MD&A. This level of backlog sets another Company record, surpassing the previous record of $3.5 billion reported on December 31, 2024. The contractual backlog in place for the Australian operations, $3.0 billion as at March 31, 2025, on a proforma basis, now provides full top-line visibility to 2029 at current levels. 'Signing the largest contract in our history is a testament to the consistent execution and trusted partnerships we've built,' stated Joe Lambert, President and CEO of NACG. 'With record-high backlog, including over $3.0 billion from Australia alone, we have exceptional revenue visibility through the decade and a rock-solid foundation for long-term growth.' 'This is an exciting extension for the MacKellar Group with it being a tangible demonstration of the successful and productive relationship we've had with this customer since inception in 2022,' stated Barry Palmer, COO of NACG. 'We are devoted to and aligned with this customer's continued success and look forward to delivering tangible results on site.' About the MacKellar Group Operating since 1966, and as a wholly owned subsidiary of NACG since 2023, MacKellar has an enviable reputation in Australia for performance and reliability. MacKellar specializes in heavy earthmoving equipment solutions and has a proud history of working on major mining and civil earthwork projects. About NACG NACG is one of Australia and Canada's largest providers of heavy construction and mining services. For over 70 years, NACG has provided services to mining, resource, and infrastructure construction markets. Jason Veenstra, CPA, CAChief Financial OfficerP: 780.960.7171 E: [email protected]
