Markets

VERSES AI Inc. (OTCQB: VRSSD) priced a public offering of 1,007,764 units at US$6.946 each, aiming for gross proceeds of approximately $7 million. Each unit includes one Class A subordinate voting share and one-half warrant. Full warrants are exercisable at US$8.409 per share for 36 months. Proceeds will support the company’s balance sheet, research & development initiatives, and operational needs. The offering is led by agents A.G.P. Canada Investments ULC and U.S. affiliate A.G.P./Alliance Global Partners.

China’s heatwave, nearing 40°C, is causing car protective films to bubble like “bubble wrap” on parked vehicles, described as “mobile jellyfish” when driven. Reactions mix amusement over the spectacle with safety concerns. Experts note film removal techniques can cause bubbles, but extreme heat in parked cars also tests material limits. This has spurred a 30% surge in film upgrades, potentially advancing the $2.1 billion vehicle wrap market.

IonQ partners with South Korea’s KISTI and Megazone Cloud to establish the nation’s first Quantum Computing Center of Excellence, deploying a 100-qubit quantum system for hybrid computing via a private cloud. Funded by a multimillion-dollar government grant, the initiative aims to drive breakthroughs in pharmaceuticals, materials science, and AI. The collaboration expands IonQ’s Asian alliances amid global quantum investments exceeding $40 billion since 2022, positioning the company strategically despite industry challenges like qubit stability and competition from IBM and Honeywell.

Tianye Innovation, a key supplier to China’s major beverage brands, faces Beijing Stock Exchange disciplinary actions for financial disclosure failures. These include publishing significantly inconsistent 2024 profit figures without timely revisions or required warnings – initial figures were later slashed by 58-66%. This marks the company’s second recent compliance issue, alongside delisting risks flagged in June and an executive investigation. Its stock fell further after the sanctions announcement.

Zhang Xuefeng, a prominent education consultant, denied involvement with a circulated WeChat screenshot inviting parents to connect for college advice. He stated on Weibo he avoids events or photos with self-proclaimed “education experts” specifically to prevent misuse of his image. Zhang warned the screenshot was deceptive and shared an anecdote highlighting how strangers falsely claim connections to mislead parents and students.

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A charitable buyer in Wenquan spent ¥3,000 on 325 lbs of cherries for farmer support, paying ~¥3,000 more for JD.com’s cold-chain delivery. Despite promises, the cherries arrived spoiled, with recipients citing rot and sourness. The woman blamed JD’s failed temperature control (only ice packs used, not 0-4°C refrigeration) and sought ¥10,000 compensation. JD refused, stating its value-protection policy covers only punctual delivery, not spoilage, highlighting e-commerce cold-chain reliability concerns. (Word count: 95)

Aris Mining (TSX: ARIS; NYSE-A: ARMN) reminds holders that its TSX warrants (ARIS.WT.A) expire July 29, 2025. These “in-the-money” warrants (C$5.50 exercise vs. C$9.46 share price) offer immediate value. Approximately 48.2% (28M warrants) have been exercised, generating C$77M. Exercising the remaining 30.2M warrants by the deadline could provide the company an additional C$83M. CEO Neil Woodyer stated this expiry completes capital structure simplification efforts. Warrant holders must act promptly and confirm their broker’s deadlines.

DeepSeek’s launch of its next-gen AI model R2 faces major delays due to data and hardware constraints, with user adoption plummeting to 3% from 50% earlier this year. The Chinese AI firm struggles to secure sufficient high-quality training data under domestic restrictions and faces GPU shortages, causing reliability issues like hallucinations. Despite operational challenges, DeepSeek has disrupted the global AI market through its open-source strategy, engaging over 1 million developers by offering accessible models. While its current setbacks highlight scaling difficulties, the company has already reshaped competitive dynamics against Western giants.

HKEX had its busiest trading day of 2025 on July 9, listing five companies and one ETF simultaneously. This marks a dramatic market recovery from 2023’s depressed IPO conditions, where valuations slumped and listings stalled. The recent debuts raised nearly HK$10 billion collectively. H1 2024 saw HK$106.7 billion raised from 40+ listings—a 689% YoY surge exceeding 2023’s full-year total. Cornerstone investors, involved in 36 of 42 recent IPOs covering 43.7% of funding, have seen significant returns, including HK$9.8 billion in paper gains from major listings like CATL and Mixue Bingcheng.

The Esports World Cup Foundation and IMG have launched “EWC Spotlight,” an immersive broadcast series from Riyadh during the 49-day gaming event. Featuring advanced AR technology and cinematic production, it delivers over 50 hours of elite competition coverage, including Post Malone’s live performance and celebrity crossovers, with a record $70 million prize pool. Distributed to 250+ million households globally via partners like Fox Sports and DAZN, it advances esports as mainstream entertainment, aligning with Saudi Arabia’s $38 billion gaming strategy to drive significant viewership growth.