Visionstate Corp. Announces Business Update: Expanding Reach and Enhancing Capabilities
Edmonton, Alberta - April 5, 2024 – Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”), a leading provider of innovative facility management solutions, is pleased to provide a comprehensive business update highlighting recent achievements and strategic initiatives.
WANDA™ Updates
BC Campus: Visionstate is thrilled to announce that its recent installation in a large BC university campus is expanding to its satellite campuses, marking a significant milestone in our evolution. This expansion opens new avenues for collaboration and growth, underscoring our commitment to supporting educational institutions in optimizing their facility management processes.
National Cleaning Company: Visionstate is delighted to confirm our inaugural installation with a national cleaning company. This installation sets the stage for future expansion within the cleaning sector, demonstrating the value and effectiveness of our solutions in enhancing operational efficiency and customer satisfaction.
Growth in the Casino Sector: Visionstate is witnessing promising growth opportunities in the casino industry for its WANDA™ product. As with any facility, tracking cleaning protocols to ensure efficiency is paramount. In casinos, WANDA™ can not only ensure cleanliness and responsiveness to cleaning alerts, but also receive feedback from the public simply by scanning the WANDA™ QR code. With plans to expand our current largest casino partner and install in a new casino next month, we are strategically positioned to capitalize on the evolving needs of this dynamic sector. This will set the stage for the Company’s attendance at a large facility management conference in Las Vegas in the fourth quarter of 2024.
Expansion with National Building Services Contractor (BSC): Including campuses outside of BC, our partnership with a national BSC is expanding beyond BC campuses, showcasing the scalability and effectiveness of our solutions in diverse educational settings. This expansion underscores our commitment to delivering tailored facility-management solutions that drive operational excellence.
Upcoming Installation at Large Vitamins and Supplements Manufacturer: Visionstate is gearing up for an installation at a natural remedy company in April, further diversifying our client portfolio and extending our reach into new markets. This installation reflects the diverse applications for WANDA as we deliver cutting-edge solutions that meet the unique needs of our clients.
Installation at BC Interior Mall: Our upcoming installation at a BC Interior Mall highlights our continued success in the retail sector. By providing tailored solutions that address the specific challenges faced by retail environments, Visionstate is empowering businesses to optimize their operations and enhance customer experiences.
U.S. Market Expansion: Visionstate is pleased to report progress in expanding into the U.S. market. With multiple businesses in the sales funnel at various stages, we are encouraged by the strong interest and potential growth opportunities across the border. The Company seeks to build that market based on the success of large installations in New York and Miami for a global private-equity real estate firm.
Technology Developments
Aggressive Development of Inspection/Auditing Functionality: Development of our inspection and auditing functionality remains a top priority. By expanding these capabilities, we aim to better serve our clients' evolving needs and deliver enhanced value through actionable insights and streamlined processes.
Exploring New Business Categories for WANDA™: Visionstate is actively exploring new business categories where our flagship solution, WANDA™, can add value. WANDA™ is a facility management tool designed to track cleaning protocols and measure efficiency in delivering frontline cleaning services. WANDA™ analytics provides a valuable tool for facility managers to understand how effectively they are delivering services to their clients. It is a subscription-based technology that incorporates a mobile app and WANDA™ tablets.
Developing AI Use Cases: We are enhancing our AI capabilities to maximize our customers' access to actionable insights and digestible information. Through the development of AI use cases, we empower our clients to make informed decisions that drive operational efficiency and business success.
ToF People Counters: Visionstate’s innovative Time of Flight, battery-operated, people counting sensors continue to demonstrate value. Since December 2023, the Company has deployed 35 sensors and has orders for an additional 50 sensors during the next two months. People counters provide valuable insights into cleaning and operational efficiencies. The Company anticipates accelerating deployment as it commoditizes production and distribution.
ViCCi 2.0 AI-Powered Customer Service: Visionstate is nearing completion of its new conversational AI application for customer service in physical environments. Developed in partnership with Fluido.ai, ViCCi 2.0 relies on AI to provide a wealth of information about the facility and its services, as well as wayfinding to multiple locations. The technology includes proximity sensors that detect a customer’s presence, welcomes them to the facility, and offers whatever assistance is required. The new ViCCi 2.0 product adds a new revenue stream to Visionstate. The Company intends to market ViCCi 2.0 initially through existing WANDA™ customers which include hospitals, shopping centres, Class A buildings, universities, and casinos to name a few. ViCCi 2.0 is able to speak any language.
Business Development
Expanding Global Presence in the UK: Visionstate is excited to meet with representatives from our global partner who will be visiting our offices to discuss expansion into this large, new market. The global partnership is strengthening WANDA™'s presence and expanding our reach into international markets.
Confirmed Presence at Interior BC Trade Show: We have confirmed Visionstate's presence at a key trade show in Interior BC, focusing on the education sector. This presents an excellent opportunity to showcase our solutions and network with industry leaders.
Financing: Visionstate is also pleased to provide an update on its current financing. The Company seeks to raise $700,000 to accelerate development and marketing of the WANDA™ product. Visionstate has so far raised approximately $500,000 and seeks to close the entire offering within the next 30 days.
"We are excited about the progress and achievements outlined in this business update," said Shannon Moore, President of Visionstate IoT Inc. "As we continue to expand our reach, enhance our capabilities, and drive innovation, we remain committed to delivering unparalleled value to our clients and stakeholders."
For more information about Visionstate Corp. and its innovative facility management solutions, please visit www.visionstate.com
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Corp.'s Portfolio Company, Sol Spaces, Partners with Diplomat Consulting to Tackle Homelessness and Affordable Housing Crisis in Edmonton
Edmonton, Alberta - March 13, 2024 – Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”), is proud to announce that its portfolio investment company, Sol Spaces Inc., has entered into a strategic agreement with Diplomat Consulting Inc. (“Diplomat”) to represent Sol Spaces as it endeavors to deploy transitional housing options to address homelessness and affordability challenges in Edmonton, Alberta.
Diplomat, renowned for its expertise in regulatory intelligence, communications, and corporate development, will play a pivotal role in advocating for Sol Spaces' innovative solutions in transitional and affordable housing. Sol Spaces specializes in leveraging technology and intelligent design to construct modern living spaces tailored to meet the unique needs of transitional housing and affordable housing initiatives.
In Edmonton, where homelessness has reached a state of emergency, Sol Spaces stands ready with its modularized studio living spaces, poised to offer a scalable solution to the pressing housing crisis. Utilizing cutting-edge technologies such as IoT and AI, Sol Spaces ensures optimal building performance from inception, providing residents with safe, comfortable, and sustainable living environments.
"We are excited to work with Sol Spaces, an innovative technology focused building provider based in Edmonton," said Nathan Mison, President of Diplomat. "By placing the best of today’s modern technologies directly into their building structures, this will increase livability, sustainability, and long-term affordability. As we continue to usher in the modern digital era, technological innovations need to be the new norm in all industries, housing included."
Elliott Putters, President of Sol Spaces, emphasized the company's dedication to making a meaningful impact through community-driven approaches, stating, "At Sol Spaces, we believe in taking a ground-up approach to address homelessness and affordability. Our mission is to create not just homes, but vibrant communities that empower individuals and families to thrive."
The demand for transitional housing solutions is staggering, with an estimated 230,000 Canadians experiencing homelessness annually. To meet this growing need, Canada must build an additional 3 to 5 million units of affordable housing by 2023. Recognizing this urgency, the federal government recently granted the City of Edmonton $175 million to address homelessness and housing affordability.
For more information about Sol Spaces and its innovative housing solutions, please visit www.solspaces.com.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly owned division of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences. As an equity partner in Sol Spaces, Visionstate Corp. holds approximately 40% ownership in the company, reaffirming its commitment to driving social impact and sustainable development through its investment portfolio.
About Diplomat Consulting Inc.
Diplomat is a boutique consulting firm focused on regulatory intelligence, communications, and corporate development. They specialize in niche emerging markets and regulated industries, such as agriculture, life sciences, emerging digital technologies, Indigenous relations, and more. They are a firm based in Edmonton but with an office in Ottawa.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Announces $700,000 Financing
Edmonton, Alberta - March 4, 2024 – Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”), a leading provider of Internet of Things (IoT) solutions, today announced a non-brokered private placement of up to $700,000. The financing will consist of one full unit at $0.02 (two cents) per share, along with a full warrant exercisable at $0.05 (five cents) per share for a term of 24 months upon closing, subject to an acceleration clause on the same terms as the prior placement.
The price per share is based on the previous closing price of the Company's common shares on Friday, March 1, 2024. The Company intends to issue up to 35 million shares for this financing round. This non-brokered placement follows the successful closure of a financing round totaling $400,000, which was oversubscribed and closed on February 22, 2024. The financing is subject to regulatory approval and customary closing conditions.
The issuance of units to insiders pursuant to the offering constitutes a “related party transaction” in accordance with TSX Venture Exchange Policy 5.9, Protection of Minority Security Holders in Special Transactions, which incorporates Multilateral Instrument 61-101 (“MI 61-101”). The offering will be exempt from the formal valuation requirement based on paragraphs (a) and (b) in section 5.5 of MI 61-101 since the aggregate consideration to be paid by the related parties will not exceed 25% of the market capitalization of Visionstate and Visionstate is not listed on the Toronto Stock Exchange, but only on the TSX Venture Exchange.
In addition, regarding the minority shareholder approval exemptions, the independent directors have determined that the exemptions set out in paragraphs (1)(a) and (b) in section 5.7 of MI 61-101 are applicable in that the aggregate consideration to be paid by the related parties will not exceed 25% of the market capitalization of Visionstate, the distribution of the securities to the related parties will have a fair market value of not more than $2,500,000 and Visionstate is not listed on the Toronto Stock Exchange, but only on the TSX Venture Exchange.
"The additional capital raised through this non-brokered private placement will provide us more resources, enabling us to accelerate the development and commercialization of innovative products," said John Putters, CEO of Visionstate Corp. "These investments will not only enhance our current offerings but also diversify our revenue base, positioning Visionstate for sustained growth and market leadership in the IoT sector."
Proceeds from the placement will be primarily allocated towards the development and commercialization of new products designed to enhance the Company's IoT solutions and expand its market reach. Visionstate Corp. remains committed to delivering IoT technology solutions that drive operational efficiencies and improve customer experiences across various industries.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly owned division of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.\
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Announces Closing of Fully Subscribed Financing
Edmonton, Alberta - February 22, 2024 – Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”), is pleased to announce that it has closed the Company’s non-brokered private placement of $400,000 announced November 23, 2023. The financing resulted in the issuance of 20,000,000 units at $0.02 per unit, with each unit consisting of one common share and one full warrant exercisable at $0.05 for two years, subject to an acceleration clause. The units issued from the placement are subject to a 4 month hold from the date of issuance. The financing also included investments from beneficial shareholders including Company directors and officers, Belinda Davidson, John Putters and Randa Kachkar, and Monte Goble, a company insider.
The funds raised will primarily be allocated to expand the Company's product marketing efforts in the United States, where Visionstate IoT Inc., the Company's main operating division, has already established a strong presence with several prominent customers. The targeted focus will be on resellers of the WANDA™ product, a cutting-edge facility management application designed to track cleaning and maintenance activities.
In addition to fortifying its position in the US market, Visionstate Corp. will allocate resources to enhance its ViCCi 2.0 product. Set to launch in 2024, ViCCi 2.0 represents a significant evolution from its predecessor, leveraging artificial intelligence and conversational interfaces to provide advanced virtual customer assistance in brick-and-mortar settings.
The issuance of units to insiders pursuant to the offering constitutes a “related party transaction” in accordance with TSX Venture Exchange Policy 5.9, Protection of Minority Security Holders in Special Transactions, which incorporates Multilateral Instrument 61-101 (“MI 61-101”). The offering will be exempt from the formal valuation requirement based on paragraphs (a) and (b) in section 5.5 of MI 61-101 since the aggregate consideration to be paid by the related parties will not exceed 25% of the market capitalization of Visionstate and Visionstate is not listed on the Toronto Stock Exchange, but only on the TSX Venture Exchange.
In addition, regarding the minority shareholder approval exemptions, the independent directors have determined that the exemptions set out in paragraphs (1)(a) and (b) in section 5.7 of MI 61-101 are applicable in that the aggregate consideration to be paid by the related parties will not exceed 25% of the market capitalization of Visionstate, the distribution of the securities to the related parties will have a fair market value of not more than $2,500,000 and Visionstate is not listed on the Toronto Stock Exchange, but only on the TSX Venture Exchange.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly owned division of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Announces Conditional Approval of Financing and 30-Day Extension
Edmonton, Alberta – February 8, 2024 – Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”), is pleased to announce it has received conditional approval from the TSX Venture Exchange for the Company’s current non-brokered financing of up to $400,000 announced November 23, 2023. The Company would also like to announce the Exchange has granted an extension to the financing which will now close on or before March 7, 2024.
The Company is undertaking a $400,000 financing for the issuance of 20,000,000 units at $0.02 per unit, with each unit consisting of one common share and one full warrant exercisable at $0.05 for two years.
The funds raised will primarily be allocated to expand the Company's product marketing efforts in the United States, where Visionstate IoT Inc., the Company's main operating division, has already established a strong presence with several prominent customers. The targeted focus will be on resellers of the WANDA™ product, a cutting-edge facility management application designed to track cleaning and maintenance activities.
In addition to fortifying its position in the US market, Visionstate Corp. will allocate resources to enhance its ViCCi 2.0 product. Set to launch in 2024, ViCCi 2.0 represents a significant evolution from its predecessor, leveraging artificial intelligence and conversational interfaces to provide advanced virtual customer assistance in brick and mortar settings.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly owned division of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Corp. Achieves Unprecedented Installation Pace of WANDA™ Technology in Facility Management Sector
Edmonton, Alberta - December 12, 2023 – Visionstate Corp. (TSXV:VIS) (“Visionstate” or the “Company”), a leader in innovative facility management solutions, is pleased to announce a significant business update highlighting the remarkable success of its main operating division, Visionstate IoT Inc., and its groundbreaking WANDA™ technology.
WANDA™ Technology Validation Amidst Ongoing Threats
Visionstate IoT Inc. continues to set the industry pace by rapidly deploying its state-of-the-art WANDA™ technology in the facility management sector. WANDA™ has proven to be an invaluable tool in validating key cleaning protocols, crucial in the face of ongoing threats posed by viruses and diseases in society.
Strategic Collaborations with Leading Canadian Universities
Visionstate IoT is proud to share its ongoing collaboration with two leading Canadian universities on large-scale installations. These projects involve tracking thousands of areas within campus premises to ensure a safe and hygienic environment for students and staff. These collaborations not only emphasize Visionstate's commitment to safety but also significantly contribute to the Company's recurring revenue stream, driven by its software-as-a-service (SaaS) business model.
Expansion of WANDA™ Footprint in the U.S.
The Company's substantial U.S.-based customer has demonstrated confidence in WANDA™'s capabilities by doubling the size of its existing installation base. This expansion not only reflects the effectiveness of WANDA™ but also signifies the continued trust and satisfaction of Visionstate's clients in the United States.
New Revenue Stream: Introduction of Time of Flight (ToF) People Counters
In response to evolving market demands, Visionstate IoT has successfully introduced Time of Flight (ToF) people counters. These innovative counters not only enhance data accuracy but also represent a new revenue stream for the Company. Rolled out to universities and colleges, the ToF people counters provide valuable insights into traffic counts, contributing to enhanced efficiency in facility management.
International Expansion: Launching WANDA™ in London, England
Visionstate Corp. is actively pursuing an international opportunity at the head office of a global firm in London, England. This installation represents a full application of all WANDA™'s features and is poised to be a launch point for additional growth in the European market. Visionstate's entry into the European market aligns with its strategic vision for global expansion and diversification.
New Opportunities and Diversification
Visionstate Corp. is pleased to announce the addition of a new shopping center location in Calgary, Alberta, further expanding its portfolio of properties. This strategic move reflects the Company's commitment to growth and diversification in key markets.
"I am very pleased with the rapid adoption of our technology in the facility management sector. The pace at which WANDA™ and our new Time of Flight People Counters are being embraced underscores the industry's recognition of our commitment to innovation and excellence,” said Visionstate IoT President Shannon Moore. “As we approach the end of the year, I am optimistic about the prosperous new year ahead and the continued impact our solutions will have on creating safer, more efficient environments. The international opportunity in London, England represents a significant milestone for Visionstate, opening doors for continued growth and success on a global scale."
Board of Directors Re-election at Annual General Meeting
Visionstate Corp. recently concluded its Annual General Meeting on December 5, reaffirming its commitment to corporate governance. The following directors were re-elected to the board:
· John Putters
· Belinda Davidson
· Jim Duke
Their continued leadership ensures stability and strategic guidance for the Company as it navigates a dynamic and growing market. Visionstate Corp. remains at the forefront of innovation in the facility management sector, driving advancements in technology that promote safety, efficiency, and sustainability.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly-owned division of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Corp. Announces Private Placement to Fund US Expansion
Edmonton, Alberta - November 24, 2023 – Visionstate Corp. (TSXV:VIS) (“Visionstate” or the “Company”) a leading provider of smart facility-management technology, today announced, subject to regulatory approval, a private placement to raise $400,000 for the issuance of 20,000,000 units at $0.02 per unit, with each unit consisting of one common share and one full warrant exercisable at $0.05 for two years.
The funds raised will primarily be allocated to expand the Company's product marketing efforts in the United States, where Visionstate IoT Inc., the Company's main operating division, has already established a strong presence with several prominent customers. The targeted focus will be on resellers of the WANDA™ product, a cutting-edge facility management application designed to track cleaning and maintenance activities.
In addition to fortifying its position in the US market, Visionstate Corp. will allocate resources to enhance its ViCCi 2.0 product. Set to launch in the first quarter of 2024, ViCCi 2.0 represents a significant evolution from its predecessor, leveraging artificial intelligence and conversational interfaces to provide advanced virtual customer assistance in brick and mortar settings.
Shannon Moore, President of Visionstate IoT Inc., commented on the significance of these developments: "We are at an inflection point when it comes to facility management software. Like other businesses, facility managers are looking at new ways of controlling costs and ensuring efficiency; our WANDA™ product enables them to do that, powered by analytical data on the operations."
The financing round and strategic initiatives underscore Visionstate Corp.'s commitment to driving innovation in facility management solutions, cementing its position as a leader in the rapidly evolving technology landscape. It is anticipated existing shareholders and insiders will participate in the financing.
In connection with the Offering, Visionstate will be relying on the existing security holders’ exemption as well as other available prospectus exemptions. For those investors relying upon the exemption for existing security holders, the aggregate acquisition cost to a subscribing shareholder of all securities of Visionstate cannot exceed $15,000 in the previous 12 months, unless that shareholder has obtained advice regarding the suitability of the investment from a registered investment dealer in the subscriber’s jurisdiction. The offer to purchase Units is available to all security holders of Visionstate who held common shares on the record date of November 23, 2023.
Shareholders residing in countries other than Canada need to meet local jurisdiction requirements to participate. If Visionstate receives total subscriptions pursuant to the existing security holders’ exemption which causes the Offering to exceed $400,000, Visionstate will accept such subscriptions on a first come, first served basis.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly-owned subsidiary of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact, and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Corp. Announces Game-Changing Roll Out of WANDA™ Platform
Latest installation highlights the flexibility of WANDA™
Edmonton, Alberta - November 9, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”), a leading provider of innovative software solutions, is thrilled to announce its latest achievement – a multi-location contract with a large post-secondary institution. This collaboration signifies another “use case” milestone for Visionstate, as it continues to expand the horizons of smart technology solutions.
Under this agreement, Visionstate will implement its cutting-edge WANDA™ software for fleet management, revolutionizing the institution's vehicle management processes. This transformative installation will serve more than 500 users across multiple locations, streamlining the check-in/check-out procedures for fleet vehicles and digitizing the storage of crucial information on the WANDA™ portal.
"This partnership underscores our commitment to harnessing technology for real-world solutions," said Shannon Moore, President of Visionstate IoT. "We are proud to be at the forefront of transformative fleet management, addressing longstanding challenges and opening doors to predictive maintenance capabilities."
Traditionally, paper-based check-in and check-out procedures often resulted in challenges such as misplaced paperwork, missed check-ins, and incomplete records. This innovative installation will resolve these issues by creating a seamless, digital system for fleet management, ensuring transparency and accountability.
One of the most exciting aspects of this collaboration is the potential for predictive maintenance. By digitally monitoring the usage and maintenance of the fleet vehicles over time, WANDA™ software will gather valuable insights. These insights will enable the institution to proactively address maintenance needs, reduce downtime, and optimize the performance and longevity of its fleet.
Visionstate is excited about the opportunities that this contract brings and is dedicated to continuing its mission of providing innovative solutions that drive efficiency, accountability, and sustainability.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly-owned subsidiary of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact, and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Corp. Announces Three-Year Contract with Bunzl Canada for Exclusive Distribution of WandaNEXT
New contract expected to double existing revenue in Canada
Edmonton, Alberta - October 16, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”), is pleased to announce that its wholly-owned subsidiary, Visionstate IoT Inc., has entered into a new three-year contract with Bunzl Canada Inc. (Bunzl Canada) for the exclusive distribution of the Company's proprietary WandaNEXT product. The agreement grants Bunzl Canada exclusive distribution rights for Canada, Australia, and the UK, while Visionstate IoT will handle direct sales into the U.S. utilizing its existing internal sales resources.
The new contract represents a significant milestone for Visionstate IoT and is expected to double existing revenue associated with the exclusive distribution rights in the Canadian market. Furthermore, it opens new territories internationally, reinforcing the Company's commitment to expanding its footprint in the global facility-management sector.
WANDA™, Visionstate's flagship product, is an application widely used across various industry sectors to monitor cleaning protocols and enhance overall efficiency in delivering building services. The technology has proven instrumental in elevating standards of cleanliness and operational excellence.
Commenting on the milestone, John Putters, CEO of Visionstate Corp., stated, "We are thrilled to extend our partnership with Bunzl Canada and strengthen our position in the global market. This new three-year contract not only underscores the value of our product but also marks a significant step towards achieving our strategic objectives. We look forward to continuing to work in conjunction with Bunzl Canada to drive innovation and deliver cutting-edge solutions to our clients."
The agreement includes revenue-sharing arrangements in the three distribution territories, fostering a mutually beneficial partnership between Visionstate Corp. and Bunzl Canada. The collaboration extends beyond distribution, as both companies work closely on the ongoing development and enhancement of the WandaNEXT platform. Visionstate leverages its expertise in innovative development, while Bunzl Canada contributes its extensive global distribution network for sales and marketing initiatives.
“We are very excited about the new capabilities the next phase of our partnership with Visionstate will bring to our customers,” said Margo Hunnisett, Vice President, Marketing & Communications at Bunzl Canada. “Technology is transforming the cleaning industry and we are committed to continually positioning ourselves at the forefront, introducing innovations that empower our customers to be more efficient, more effective, and more sustainable.”
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly-owned subsidiary of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact, and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Advances IoT Technology Deployment Globally
Edmonton, Alberta – September 21, 2023 – Visionstate Corp. (TSXV:VIS) (“Visionstate” or the “Company”), a leading innovator in IoT technology for the facility management industry, is proud to announce significant advancements in its global expansion efforts. With a strong focus on enhancing facility management practices, Visionstate IoT Inc., the company’s main operating division, continues to make strides in improving operational efficiency and cleanliness in various sectors.
Major Deployment in Canada
Visionstate IoT has embarked on a major deployment project in collaboration with one of the largest universities in Canada. To date, the company has successfully completed installations in five buildings, with 12 more buildings slated for deployment. This landmark project showcases Visionstate's commitment to revolutionizing facility management across academic institutions, ensuring a safe and productive environment for students and staff.
International Trials in the UK and Australia
In London, UK, Visionstate is conducting a trial of its cutting-edge IoT technology at the head office of a prominent global ride-sharing company. This initiative aims to demonstrate the capabilities of Visionstate's solutions in optimizing workspace cleanliness and maintenance protocols within corporate environments.
Meanwhile, Visionstate has successfully completed an installation in Australia, marking its initial foray into this burgeoning market. The company is excited about the prospects of expanding its footprint and delivering its innovative solutions to organizations across the Australian continent.
Expanding Presence in the US
In the United States, Visionstate IoT is aggressively expanding its presence and forging key partnerships. The company is currently working with partners to deploy its flagship product, Wanda, in a prominent restaurant chain. Visionstate will also be a prominent presence at key industry tradeshows across the US over the next 12 months, aiming to solidify its position as a frontrunner in facility management technology within the US market.
Global Partnership and Strategic Initiatives
Visionstate is actively working towards concluding a comprehensive contract with its global partner, which will encompass Canada and specific territories internationally. This strategic partnership is expected to elevate Visionstate's reach and influence in the global facility management arena.
Enhanced Marketing and Online Presence
Over the next quarter, Visionstate will intensify its efforts to expand its social media presence for Wanda, engaging with a wider audience and sharing valuable insights on facility management best practices. The company is also set to launch a targeted marketing campaign in the US, aimed at raising awareness about its innovative solutions. In addition, Visionstate will unveil a new website that will better represent its products and capabilities, making it easier for potential customers to explore the benefits of its cutting-edge technology.
Wanda, Visionstate's flagship facility management tool, is designed to meticulously track cleaning and maintenance protocols, ensuring optimal cleanliness and operational efficiency in various industries.
"We are excited about the rapid expansion of our IoT technology solutions worldwide," said Shannon Moore, President of Visionstate IoT Inc. "Our commitment to enhancing facility management practices continues to drive us forward, and we look forward to delivering our innovative solutions to more organizations, helping them achieve excellence in cleanliness and efficiency."
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly-owned subsidiary of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact, and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Announces Closing of Previously Announced Private Placement
EDMONTON, Alberta - August 18, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) is pleased to announce the close of the private placement offering (the “Offering”) previously announced on June 8, 2023. At the close, Visionstate raised $500,000 through the issuance of 25,000,000 units ("Units") at a price of $0.02 per Unit. Each Unit is comprised of one (1) common share in the capital of Visionstate (“Common Share”) and one (1) Common Share purchase warrant (“Warrant”) whereby each Warrant entitles the holder to purchase one (1) additional Common Share at a price of $0.05 per Common Share for a period of two (2) years following the date of closing.
If the closing price of the Common Shares is equal to or exceeds $0.07 per Common Share for greater than twenty (20) consecutive trading days, then the warrant term shall automatically accelerate to a date that is thirty (30) calendar days following the date a press release is issued by the Company announcing the reduced warrant terms, without further notification made by the Company.
The issuance of Units to a person holding more than 10% of the Common Shares of Visionstate constitutes a “related party transaction” in accordance with TSX Venture Exchange Policy 5.9, Protection of Minority Security Holders in Special Transactions, which incorporates Multilateral Instrument 61-101 (“MI 61-101”). The Offering will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. In particular, Visionstate has determined that the exemptions set out in paragraphs (a) and (b) in section 5.5 of MI 61-101 are applicable since the aggregate consideration to be paid by the related parties will not exceed 25% of the market capitalization of Visionstate and Visionstate is not listed on the Toronto Stock Exchange, but only on the TSX Venture Exchange. In addition, regarding the minority shareholder approval exemptions, the independent directors have determined that the exemptions set out in paragraphs (1)(a) and (b) in section 5.7 of MI 61-101 are applicable in that the aggregate consideration to be paid by the related parties will not exceed 25% of the market capitalization of Visionstate, the distribution of the securities to the related parties will have a fair market value of not more than $2,500,000 and Visionstate is not listed on the Toronto Stock Exchange, but only on the TSX Venture Exchange.
The net proceeds from the sale of Units will be used by the Company towards the development and rollout of ViCCi 2.0, an artificial intelligence application designed to enhance customer service, for marketing and sales initiatives of the Wanda™ technology to global markets and for general operating capital.
Pursuant to applicable Canadian securities laws, the Common Shares and Warrants comprising the Units are subject to a four-month hold period from the time of closing of the Offering.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Tel: 780-425-9460
Email: shannon@visionstate.com
CHF Capital Markets
Kathy Chapman
Tel: 416-868-1079 x 234
Email: kc@chfir.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Q3 2023 Newsletter
Message from the president
I am delighted to address you all in this edition of our Q3 2023 newsletter. The past few months have opened up exciting opportunities for Visionstate to grow our business both in Canada and internationally. Our unwavering commitment to innovation and customer satisfaction has paved the way for exciting developments and prospects on multiple fronts.