Visionstate Portfolio Company Exceed Solar Announces Name Change to Sol Spaces, Focuses on High-Tech Greenhouses and Sustainable Living Spaces
EDMONTON, Alberta - March 16, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) is pleased to announce its portfolio company Exceed Solar Inc. is changing its name to Sol Spaces Inc., effective immediately. The rebranding reflects the company's shift towards high-tech greenhouses and sustainable living spaces that integrate cutting-edge solar and Internet of Things (IoT) technology.
Sol Spaces Inc. (Sol Spaces) is committed to helping individuals and businesses reduce their carbon footprint while still living comfortably. By combining the latest advancements in solar energy and IoT technology with innovative designs and sustainable materials, Sol Spaces creates modern living and growing spaces that are environmentally friendly and energy-efficient.
"Exceed Solar has always been dedicated to creating sustainable solutions, and we're excited to continue that mission under our new name, Sol Spaces," said company President Elliott Putters. "We believe that technology has the power to make a positive impact on the environment, and we're committed to using it to build a better, more sustainable future."
Sol Spaces' high-tech greenhouses offer a unique approach to sustainable agriculture, utilizing advanced automation and IoT technology to optimize plant growth and increase yields. With the ability to extend the growing season, Sol Spaces' greenhouses can help reduce food waste, increase food security, and promote local agriculture.
"The creation of garden suites and secondary suites is a great way to help increase the supply of affordable housing in our city while preserving the character of our established neighbourhoods,” said Naheed Nenshi, former Mayor of Calgary, Alberta.
Due to the increasing cost of homes and the relative shortage of affordable homes in the major Canadian markets, laneway homes or garden suites are becoming a more viable option.
As Sol Spaces, the company is committed to continuing its legacy of sustainable solutions while exploring new frontiers in green technology. Its new name reflects the dedication to creating innovative spaces that are not only sustainable but also offer a high standard of living.
Currently, Sol Spaces is developing a community-based food network in Edmonton, Alberta to help ease the burden of rising food costs. The $40,000 project is also designed to build more resilient communities with the capacity to grow food locally.
The first installation will be at the Alberta Avenue Community League, which recently celebrated its 100th anniversary. The 240-square-foot Sol Greenhouse is powered by 1.2 kw/h of solar energy and features a heat/cooling pump that helps maintain constant temperatures. The greenhouse also features IoT technology with sensors that measure environmental conditions and growing performance. Sol Spaces would like to thank Bunzl Canada for their generous donation to this community-based project.
In addition to greenhouses, Sol Spaces is also focused on creating sustainable living spaces that are both functional and beautiful. Their innovative designs use energy-efficient materials and integrate cutting-edge solar technology, resulting in homes and commercial spaces that are both stylish and sustainable.
Visionstate Corp. owns 40% of Sol Spaces through debenture financing in 2018 and 2021.
For more information about Sol Spaces and its commitment to sustainable living, please visit its website at www.solspaces.com. Additional information about the company’s product lines can be accessed through the following links: Greenhouses, Studios, Garden Suites.
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.
About Sol Spaces Inc.
Sol Spaces Inc. is a social enterprise and the builder of ‘Sol Spaces’ - a product line of building structures that are consciously engineered and constructed to enhance daily life, empower healthy communities, and contribute to the sustainability of the planet. The Sol Greenhouse, Sol Studio and Sol Garden Suite are each innovatively designed to meet a unique and earnest customer profile including individual homeowners, community service groups, the restaurant and hospitality sector and municipalities in Edmonton and northern Alberta.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Sol Spaces Inc.
Elliott Putters, President
Tel: 780-982-0635
Email: eputters@solspaces.com
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
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.
Visionstate Corp. Announces Private Placement with Warrants and Use of Proceeds for ViCCi 2.0 AI Rollout
EDMONTON, Alberta - March 13, 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 $300,000 for the issuance of 15,000,000 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 Company is also announcing that it will use the proceeds to invest in the rollout of ViCCi 2.0, an artificial intelligence application designed to enhance customer service. The Company will also use proceeds to invest in sales and marketing to expand the reach of Visionstate’s proprietary WANDA™ technology to global markets. Proceeds will also be used for general operating capital.
ViCCi 2.0 is a new, powerful tool that uses artificial intelligence to provide businesses with real-time insights into customer behavior, preferences and feedback. With ViCCi 2.0, businesses can optimize their customer service, sales and marketing efforts to improve customer engagement, loyalty and revenue. Visionstate is partnered with AI start up Fluidio.ai to pursue ViCCi 2.0 opportunities.
"We are excited to announce this new private placement and the launch of ViCCi 2.0," said John Putters, CEO of Visionstate Corp. "This financing will help us accelerate the rollout of ViCCi 2.0 and expand WANDA™'s reach beyond Canada, while also providing us with the working capital we need to support our ongoing operations."
Visionstate’s WANDA™ IoT platform has been successfully deployed in numerous public spaces, including hospitals, airports, and shopping malls across Canada.
The private placement is expected to close on April 14, 2023, subject to regulatory approval. The securities issued in the private placement will be subject to a hold period of four months and one day from the date of issuance.
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 September 30, 2022.
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 $300,000, 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
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.
Visionstate Corp. Signs MOU with Fluido.ai to Explore AI Business Opportunities
EDMONTON, Alberta - March 9, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) a leading provider of smart facility-management technology, today announced that it has signed a Memorandum of Understanding (MOU) with Fluido.ai, a prominent provider of artificial-intelligence solutions. The MOU outlines the intention of both companies to explore mutually-beneficial business opportunities related to artificial intelligence (AI).
Through this partnership, Visionstate and Fluido.ai plan to collaborate on research and development projects aimed at exploiting the power of AI to enhance the capabilities of Visionstate's existing product offerings. This may include developing new AI-powered features such as machine learning for Visionstate's flagship WANDA™ platform, which leverages Internet of Things (IoT) technology to monitor and analyze restroom-usage data in real time.
"We are thrilled to be partnering with Fluido.ai to delve into the exciting possibilities of AI technology," said Shannon Moore, President of Visionstate IoT Inc. "As we continue to innovate and expand our smart facility-management solutions, we believe that AI has the potential to greatly enhance our proficiencies and provide even more value to our customers."
"We are excited to be working with Visionstate to explore the ways in which AI can help to improve efficiencies and reduce costs," said Wessam Gad El-Rab, CEO of Fluido.ai. "We believe that this partnership has the potential to bring AI applications to a broad range of industry sectors."
Along with enhancing the capabilities of WANDA™, the two companies are collaborating on bringing to market conversational AI for physical locations such as retail, hospitality, and building services. In this respect, AI is poised to dramatically change the way in which on-site customer service is delivered.
According to industry estimates, applications involving artificial intelligence will reach $407 billion by 2027 and is already a $200 billion-a-year sector.
About Fluido.ai
Fluido.ai is an Edmonton, Alberta-based AI company that has created a Conversational AI-technology "chatbot" for the restaurant industry and for the retail industry. The chatbot can work by text (where the customer types their questions and answers using a keyboard) or with a voice interface. The Fluido.ai chatbot also takes payments. In addition, Fluido.ai has developed a recommendation engine that is currently being used by a US coffee chain. Visit our website at www.fluido.ai
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
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.
Visionstate Corp. Announces TSX Venture Exchange Approval for Second and Final Closing of Private Placement
EDMONTON, Alberta - March 1, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) is pleased to announce receipt from the TSX Venture Exchange for the second and final closing of its non-brokered unit offering (“Offering”) previously announced on November 9, 2022 and conditionally closed on December 12, 2022. Further to the press release of December 19, 2022, Visionstate will issue an additional 2,800,000 units of Visionstate (“Units”) to the investors at an issue price of $0.02 per Unit for aggregate additional gross proceeds of $56,000. As a result of this second and final closing, Visionstate has issued an aggregate of 12,845,000 for total gross proceeds of $256,900 pursuant to this private placement (the “Private Placement”).
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 for a period of twenty-four (24) months following the date closing of the Private Placement.
The net proceeds from the sale of units will be used by Visionstate for marketing and sales initiatives, research and development to enhance Visionstate’s technology, operating capital and investigating a US quotation on the OTCQB.
The participation in the Offering by an executive officer of Visionstate may be considered a "related party transaction" (the “Related Party”) as defined under Multilateral Instrument 61-101 ("MI 61-101"). Visionstate has determined that exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101 are available. 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 Party does 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 Party does not exceed 25% of the market capitalization of Visionstate, the distribution of the securities to the Related Party has 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.
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:
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 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.
Visionstate Corp. clarifies memorandum of understanding to develop IoT solutions for the cannabis sector
EDMONTON, Alberta - February 17, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) hereby clarifies the memorandum of understanding (“MOU”) dated January 21, 2021 and the subsequent announcement on April 15, 2021 of a $500,000 payment to the Company to develop IoT technology for the cannabis sector. The payment disclosed on April 15, 2021, was from Freedom Cannabis Inc. and was included as revenues for the Company. It was part of a broader pre-arrangement in which the Company agreed to invest $1,000,000 into Freedom Cannabis Inc.
The solution provided by Visionstate enables tracking and streamlining standard operating procedures required in the reporting and tracking of cleaning activities in cannabis facilities.
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
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.
Visionstate Announces Rollout of AI for its WANDA™ Application
EDMONTON, Alberta - February 8, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) Visionstate IoT Inc., wholly-owned subsidiary of Visionstate, a leading provider of Internet of Things (IoT) solutions for the facility management sector, is proud to announce the incorporation of artificial intelligence (AI) into its WANDA™ application. With its AI partner, Fluido.ai, Visionstate is taking the next step in its journey to provide customers with cutting-edge technology and innovative solutions.
The WANDA™ application, which provides real-time monitoring and tracking of cleaning and maintenance activities, will now include AI “chatbot” capabilities that will enhance its functionality and provide users with a more efficient and effective experience. The AI algorithms developed by Fluido.ai will allow WANDA™ to analyze large amounts of data and make automated decisions, providing users with real-time insights and predictions that were previously unavailable.
For those who are not familiar with AI technology and why integrating it with the WANDA™ application is so exciting, here is a practical example:
User: (using keystrokes or voice command) - "WANDA™ (the AI), tell me how many times in the last month a cleaning was missed?"
WANDA™ (AI): (answer will be received by User in 10 seconds or less) - "In the month of January two cleanings were missed in the men's and women's restrooms on the first floor of the West Wing. Overall, the staff was 98% compliant with the cleaning protocols."
“The chatbot can interact with customers on the website, the phone, Meta Messenger, WhatsApp, etc.; the business operator only needs to glance at one dashboard to see the total picture regarding its customer interactions through various channels,” said Wessam Gad El-Rab, Chief AI Officer and co-founder of Fluido.ai.
"We are thrilled to be working with Fluido.ai and incorporating their AI expertise into our WANDA™ application," said Visionstate IoT Inc. President, Shannon Moore. "This collaboration allows us to bring the latest technology to our customers, providing them with "state-of-the-art” analytics and data in real-time."
With the integration of AI, Visionstate is positioning itself as a leader in the IoT space and is committed to providing customers with innovative and effective solutions. The Company is dedicated to providing its customers with the best possible experience, and the incorporation of AI will help it to achieve this goal.
About Fluido.ai
Fluido.ai is an Edmonton, Alberta-based AI company that has created a Conversational AI technology "chatbot" for the restaurant industry and for the retail industry. The chatbot can work by text (where the customer types their questions and answers using a keyboard) or with a voice interface. The Fluido.ai chatbot also takes payments. In addition, Fluido.ai has developed a recommendation engine that is currently being used by a US coffee chain. Visit our website at www.fluido.ai
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
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.
Visionstate Announces Corporate Sponsorship of Exceed Solar by Bunzl Canada
Distribution leader sponsors Exceed Solar’s state-of-the-art, solar-powered greenhouse to fight food insecurity.
EDMONTON, Alberta - January 27, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) is pleased to announce its portfolio company Exceed Solar, a pure play ESG entity, has launched its community-driven food security network in partnership with Bunzl Canada Inc. (“Bunzl Canada”).
Bunzl Canada has announced its sponsorship of the community-scale, solar-powered greenhouse at the Alberta Avenue Community League (“AACL”) in Edmonton. This state-of-the-art initiative will provide the community with access to fresh, locally grown produce year-round.
The innovative project was initiated by Edmonton’s own Exceed Solar , a local start-up business founded on a passion for the environment and a commitment to making a meaningful impact on the planet by promoting alternative energy and sustainable living. The new greenhouse will feature advanced technology, including a 1.2kW solar energy system, heating and cooling ductless pump, and an Internet of Things (IoT)-based environmental monitoring system.
Construction of the greenhouse is set to begin in the coming weeks and is expected to be fully operational by Spring 2023, according to Elliot Putters, Exceed Solar’s founder and CEO. “This initiative will have a very positive impact on our local community , thanks to our partners, Bunzl Canada and the AACL.”
“We are very excited to partner with Exceed Solar and the AACL on this innovative project,” said Margo Hunnisett, Bunzl Canada's Vice President of Marketing and Communications. “We believe that access to food, especially fresh produce, is essential for building strong, sustainable communities. We’re committed to supporting initiatives to address food insecurity and hope this new greenhouse will serve as a model for other communities to follow."
Bunzl Canada provides cleaning and hygiene products and equipment, food and retail packaging, safety products, and industrial supplies to more than 45,000 Canadian businesses. The company supports local food banks across the country as well as contributes to in-school nutrition programs.
“We are thrilled to have the support of Bunzl Canada in bringing this exciting project to our community,” said AACL Facility Manager, Karen Mykietka. “The greenhouse will not only provide us with fresh produce but will also serve as a valuable educational resource for our members. We look forward to seeing the positive impact it will have on our community.”
The AACL will provide educational resources and workshops, allowing members of the community to learn about sustainable farming practices and how to properly care for the plants in the greenhouse.
About Bunzl Canada Inc.
Bunzl Canada Inc. (bunzlcanada.ca) provides the cleaning and hygiene products and equipment, food and retail packaging, safety products and industrial supplies which keep over 45,000 Canadian businesses running optimally, every day. The company brings its customers the advantage of global sourcing, product innovation and national scale combined with responsive local service and deep category expertise. Bunzl Canada Inc. is a division of Bunzl Distribution USA, LLC.
About Bunzl Distribution
Bunzl Distribution USA, LLC (bunzldistribution.com), headquartered in St. Louis, Mo., is the largest division of London-based Bunzl plc, an international distribution and outsourcing group. With more than 100 distribution centre throughout the U.S., Canada, Mexico and the Caribbean, Bunzl supplies a wide range of products to food processors, supermarkets, retailers, convenience stores and other users.
About Exceed Solar Inc.
Exceed Solar Inc. is a social enterprise and the builder of ‘Sol Spaces’ - a product line of building structures that are consciously engineered and constructed to enhance daily life, empower healthy communities, and contribute to the sustainability of the planet. The Sol Greenhouse, Sol Studio and Sol Garden Suite are each innovatively designed to meet a unique and earnest customer profile including individual homeowners, community service groups, the restaurant and hospitality sector and municipalities in Edmonton and northern Alberta.
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
Tel: 780-425-9460
Email: shannon@visionstate.com
CHF Capital Markets
Perry Rapagna, Manager, Corporate Development & Senior Account Manager
Tel: 416-868-1079 x230
Email: perry@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.
Visionstate Focuses on Market Expansion for WANDA in 2023 as OMICRON variants continue to spread
EDMONTON, Alberta - January 5, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) is pleased to unveil its 2023 business objectives for its wholly owned subsidiary, Visionstate IoT Inc. (“Visionstate” or the “Company”), which provides proprietary software to the facilities management industry to track and monitor cleaning and maintenance activities.
Company President to host virtual information session on corporate plans
Among the objectives for 2023 is the introduction of a new pricing model under the software as a service model (SaaS), which will generate additional revenues as Visionstate moves toward value pricing.
“Visionstate has demonstrated the value of its software in tracking and monitoring cleaning activities, essential for disease prevention,” explained Shannon Moore, President of Visionstate IoT Inc. “With demand for our software increasing, the Company believes this is the right time to adjust our license fees to meet the demand for our product.”
Currently, WANDA™ is installed in diverse industry verticals across Canada, the US and more recently, Europe. The Company’s mobile app is easy to install, quick to deploy, and provides advanced analytics for facility managers to ensure cleaning protocols are being met. The focus on effective cleaning has dramatically increased because of COVID 19 and its many variants that continue to challenge healthcare practitioners globally.
“WANDA™ is an essential part of the new cleaning protocols that have been introduced over the past two years,” explained Moore. “Archaic paper-based methods of tracking this information are no longer effective and are being replaced by applications that can provide the analytics and reporting required to ensure a clean and safe facility.”
Along with license fee adjustments, the Company is also focused on expansion into new markets outside of Canada. Visionstate already has a foothold in the US market through a large reference client but will be focused on expanding the Company’s presence in key geographical locations. In 2022, Visionstate secured a foothold in Europe as well, with installations in a hospital network in Belgium, providing a reference customer for expansion throughout Europe as well.
Meanwhile, the Company continues to build new functionality into its WANDA™ software to further expand the potential applications for the software. The new features include upgraded analytics dashboards, easier set ups and scalability to accommodate large facilities such as universities, stadiums and school divisions.
“With the added functionality we can further expand our market penetration,” said Moore. “We are exploring other verticals such as home health care to further scale the technology to track patient care.”
The Company is holding a virtual information session on Thursday, January 12, 2023 at 2 pm MST (4 pm EST) hosted by Visionstate President Shannon Moore. Please join us for this presentation which will be followed by questions and answers. The meeting link is as follows:
https://zoom.us/j/99181039071?pwd=aTRVc3JBTUZHeEowRmgrNGFjN210UT09
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 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
Perry Rapagna, Manager, Corporate Development & Senior Account Manager
Tel: 416-868-1079 x230
Email: perry@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.
Visionstate Announces Conditional Approval of Previously Announced Private Placement
EDMONTON, Alberta - December 19, 2022 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) is pleased to announce the receipt of conditional acceptance from the TSX Venture Exchange on the offering ("Offering") of up to 17,500,000 units of the Company (“Units”) at a price of $0.02 per Unit for gross proceeds of up to $350,000 as previously announced on November 9, 2022. Each Unit is comprised of one (1) common share 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.
Visionstate has closed on the initial tranche of subscriptions of 10,045,000 Units at a price of $0.02 per Unit for gross proceeds of $200,900, which includes 2,595,000 Units issued to certain insiders of Visionstate.
The issuance of Units to insiders pursuant to the Offering will constitute a “related party transaction” as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions (“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 for marketing and sales initiatives, research and development to enhance the Company’s technology, operating capital and investigating a US quotation on the OTCQB.
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 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
Perry Rapagna, Manager, Corporate Development & Senior Account Manager
Tel: 416-868-1079 x230
Email: perry@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.
Visionstate Announces New WANDA™ Deployments as Flu Viruses Persist
EDMONTON, Alberta - December 14, 2022 - Visionstate Corp. (TSXV: VIS) ("Visionstate" or the “Corporation”) is pleased to announce its wholly owned subsidiary Visionstate IoT Inc. has successfully deployed its proprietary WANDA™ technology to two new locations amid rising cases of the flu virus across Canada.
The two new locations include senior’s facilities in Calgary, Alberta and a Class “A” office tower in downtown Vancouver, BC. Visionstate IoT is also gearing up for its first installation in the hospitality sector, planned for January 2023, in a high-end hotel located in the heart of Banff, Alberta.
The installations of WANDA™ come as health care in Canada comes under increasing pressure from particularly virulent strains of the flu virus, and the continued persistence of COVID. Visionstate IoT’s proprietary WANDA™ technology is the first line of defence in reducing the incidents of disease spread by providing technology designed to track and monitor front line cleaning practices in public facilities.
“The continued demand for WANDA™ is a result of a general transformation in the facility management sector toward new technology that can effectively track and monitor cleaning practices in any environment,” explained Visionstate IoT President Shannon Moore. “The antiquated paper-based method of tracking these activities no longer measure up when considering the threat posed by viral outbreaks.”
Health care officials across Canada and North America have expressed concern about the threat caused by the transmission of disease during this year’s flu season. In many cases, hospitals are already at capacity and schools are witnessing unprecedented absences due to the virulent nature of the flu.
“WANDA™ is an easily deployed and affordable mobile app that brings accountability to a new level,” said Moore. “With compliance reporting and detailed analytics, facility managers can have confidence their staff is meeting or exceeding new cleaning protocols that have been introduced since the first outbreak of COVID-19.”
Currently WANDA™ is installed in hospitals, airports, senior’s care facilities, recreational centres, shopping centres, municipalities and Class “A” office towers across Canada and the US. The WandaMOBILE app can track cleaning and maintenance in multiple zones and areas inside and outside of buildings and provides detailed analytics on performance.
Visionstate’s WANDA™ is marketed globally and generates revenue through a software-as-a-service model. Each new client builds recurring revenues where the margin is approximately 90%.
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
Tel: 780-425-9460
Email: shannon@visionstate.com
CHF Capital Markets
Perry Rapagna, Manager, Corporate Development & Senior Account Manager
Tel: 416-868-1079 x230
Email: perry@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.
Visionstate's WANDA Deployed to School Division: Demonstrates Versatility of Facility Management App
EDMONTON, Alberta - December 1, 2022 - Visionstate Corp. (TSXV: VIS) ("Visionstate" or the “Corporation”) is pleased to announce the first deployment of its WANDA™ mobile app to a school division in Canada and has added yet another municipality to its growing list of customers.
The deployment of WANDA™ to a school division in Alberta marks the first installation of the technology in this sector, which continues to look for new technologies to track cleaning protocols as COVID and new flu viruses continue to persist.
The school division deployed Visionstate’s technology using the WANDA™ mobile app in combination with QR codes to monitor cleaning in bathrooms, hallways, libraries, classrooms, and offices. A front entrance and front office QR code are also being used for both custodial staff to log cleaning and maintenance activities and provide visitors with an opportunity to flag potential issues.
“We are very excited about on-boarding our first school division,” said Visionstate IoT Inc.’s (“IoT”) President Shannon Moore. “With the continued threat posed by virus outbreaks and COVID-19, school divisions can use WANDA™ to ensure that cleaning protocols are being met, which is the first line of defence against the spread of disease.”
IoT also deployed to an Alberta municipality which is focusing on the cleaning of its large aquatic centre. The WANDA™ app is being used to monitor change rooms, office areas and community rooms. In addition, WANDA™ is tracking deck maintenance as well as supply room and first aid inventory.
“We have several firsts in terms of WANDA™’s application to pool maintenance and supply tracking in this environment,” Moore explained. “For example, deck maintenance is a critical part of the infrastructure and requires daily maintenance. A QR code is being used specifically for that purpose. Polishing high touch points, scrubbing pool scum, maintaining water test stations, and cleaning and repairing skimmer baskets are all new applications for WANDA™.”
The municipality is also tracking supplies using the WANDA™ app, from delivery to the supply room; to the first aid storage room; to the first aid cart which is on the pool deck. Each has a “check stop” monitored by a QR code so there is a backup to ensure first aid supplies are always available.
“The versatility of WANDA™ in the facility management environment continues to be demonstrated,’ explained Moore. “In an era where disease outbreak is cause for concern, as well as ensuring efficiency in the delivery of services, WANDA™ stands out as the best solution for facility managers.”
Visionstate’s WANDA™ is marketed globally and generates revenue through a software-as-a-service model. Each new client builds recurring revenues where the margin is approximately 90%.
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
Tel: 780-425-9460
Email: shannon@visionstate.com
CHF Capital Markets
Perry Rapagna, Manager, Corporate Development & Senior Account Manager
Tel: 416-868-1079 x230
Email: perry@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.
Visionstate Announces Appointment of New President
EDMONTON, Alberta - November 15, 2022 - Visionstate Corp. (TSXV: VIS) ("Visionstate" or the “Corporation”) is pleased to announce the appointment of Shannon Moore as President of the Company’s operating division, Visionstate IoT Inc., effective immediately. Ms. Moore is a current employee of Visionstate and has served as Director of Sales and Marketing for the past 12 months.
Ms. Moore has a long history in sales, marketing, and operations, having most recently served as CEO of an Edmonton-based home services company before joining the Visionstate team in 2021. Ms. Moore also has extensive experience in sales, which she acquired while employed in the media industry during much of her early career.
As demand for Visionstate’s WANDA™ product continues to increase, the Company is putting in place key personnel to execute its growth plan. Since the initial outbreak of COVID-19, the facility management sector has undergone a transformation away from paper-based processes and toward digitalization, particularly analytics.
Visionstate IoT Inc. is uniquely positioned to capitalize on the opportunity through its proprietary WANDA™ technology, which tracks cleaning protocols and maintenance activities in large facilities, including hospitals, airports, shopping centres, Class A office towers, and municipalities, to name a few.
The Company has witnessed unprecedented growth in the WANDA™ mobile app and accompanying QR codes, which enables facilities to track cleaning and maintenance in specific areas, including exteriors, and most recently high-value assets such as wheelchairs and gurneys. Patrons can scan the same code and provide feedback on the condition of an area or facility providing facility managers with even more in-depth analytics on public sentiment.
“Shannon is a huge asset to our team,” explained Visionstate Corp. CEO John Putters. “She has the experience and skill set to execute on our growth plans and is taking the WANDA™ product to the next level.”
During the past 12-months Ms. Moore has been learning about Visionstate’s technology and understanding the market opportunity for WANDA™. She is also active in her community and has an executive position in a prominent service-oriented organization.
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 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 Corp.
John Putters, Chief Executive Officer
Tel: 780-425-9460
Email: jputters@visionstate.com
CHF Capital Markets
Perry Rapagna, Manager, Corporate Development & Senior Account Manager
Tel: 416-868-1079 x230
Email: perry@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.
Visionstate Announces Updated Financing
EDMONTON, Alberta - November 9, 2022 - Visionstate Corp. (TSXV: VIS) ("Visionstate" or the “Corporation”) is pleased to announce that, subject to regulatory approval, the Corporation intends to complete an offering ("Offering") of up to 17,500,000 units of the Corporation (“Units”) at a price of $0.02 per Unit for gross proceeds of up to $350,000. Each Unit is comprised of one (1) common share of the Corporation (“Common Share”) and one full Common Share purchase warrant (“Warrant”) at a price of $0.05 for every Common Share purchased, with an expiry date 24 months after the closing of the private placement. The price per Common Share has been set at the last trading price on the TSX Venture Exchange before the issuance of this press release.
The net proceeds from the sale of units will be used by the Corporation for marketing and sales initiatives, research and development to enhance the Corporation’s technology, operating capital and investigating a US quotation on the OTCQB.
The private placement replaces the financing announced on September 9, 2022, which was priced at 0.02 cents per share for total proceeds of $350,000.
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 Common Shares is available to all security holders of Visionstate who held common shares on the record date of October 31, 2022. Shareholders resident in Ontario, Newfoundland and Labrador, and countries other than Canada will 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 $350,000, 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. Through Visionstate 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 Corp.
John Putters, CEO
jputters@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Perry Rapagna, Manager, Corporate Development & Senior Account Manager
perry@chfir.com
Tel: 416-868-1079 x230
CAUTIONARY STATEMENT
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press 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's WANDA™ Expands to Equipment Tracking, Sales Queue Grows to More Than 100 Companies
EDMONTON, Alberta - October 31, 2022 - Visionstate Corp. (TSXV: VIS) ("Visionstate" or the “Corporation”) is pleased to announce significant growth in the deployment and interest in the Company’s WANDA™ technology, an IoT (Internet of Things) application designed to track cleaning and maintenance protocols in public facilities.
In the previous quarter, the Company installed its technology in several new locations, including shopping malls, Class “A” office buildings, casinos, and municipalities. The demand for WANDA™ is steadily increasing as facility management moves toward digitalization to capture key analytics on its operations.
“Ever since the COVID lockdowns ended we have seen a dramatic rise in interest for the WANDA™ platform,” explained Shannon Moore, Director of Sales and Marketing for Visionstate IoT Inc. “Building operators are turning to technology to track cleaning and maintenance activities to increase operational efficiencies and to provide a safer environment for the public.”
“Currently we are dealing with a list of more than 100 companies that are interested in implementing our WANDA™ platform,” she explained. “This includes everything from large retailers to municipalities.”
Part of the increase in demand is due to the expansion of WANDA™ ’s capabilities. Originally, WANDA™ was designed to track cleaning and maintenance in restrooms. Using QR codes and its mobile app, WANDA™ is now able to track assets and inventory in addition to cleaning and maintenance protocols.
Visionstate recently implemented WANDA™ at a major Canadian-based hospital to track high-value assets such as wheelchairs and gurneys. Not only can WANDA™ track asset usage, but also the history of the cleaning and maintenance schedules, all at a fingertip.
“WandaMOBILE makes it easy to track high-value assets and inventory,” Moore explained. “The additional benefit is that building managers also have access to the cleaning history, which is particularly important in the hospital environment.”
WANDA™ is based on a subscription model, or software as a service, making it easy and affordable to implement. Visionstate charges customers an activation fee based on the number of users. As the size of the customer grows, the number of activations grows with it.
“Executing on our current customer list represents the potential for several million in residual, booked revenue,” said Moore. “Our goal is to acquire new customers quickly to build our residual income base.”
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 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 Corp.
John Putters, Chief Executive Officer
Tel: 780-425-9460
Email: jputters@visionstate.com
CHF Capital Markets
Perry Rapagna, Manager, Corporate Development & Senior Account Manager
Tel: 416-868-1079 x230
Email: perry@chfir.com
CAUTIONARY STATEMENT
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press 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 Portfolio Company Exceed Solar Launches Strategy to Address Food Security
EDMONTON, Alberta, September 21, 2022 - Visionstate Corp. (TSXV: VIS) ("Visionstate" or the “Corporation”) is pleased to announce its portfolio company, Exceed Solar Inc., has launched an innovative strategy to address mounting concerns over food security in municipalities across Canada.
Exceed Solar Inc. (“Exceed Solar” or “Exceed”), which builds high-tech greenhouses, is creating a community-based food network within the City of Edmonton to help build “growing capacity” in order to address rising food costs and supply shortages. The first greenhouse and community garden were developed in partnership with Freedom Cannabis Inc. (“Freedom”), an Alberta-based company that is also committed to positive social impact.
The initiative involves Exceed Solar supplying its 240-square-foot high-tech greenhouses to businesses and community leagues, in conjunction with a community garden, through sponsorships and donations. The harvest from the gardens is donated to community food banks to help ease the burden of food shortages and rising costs.
“We have found that the buy-in from businesses and community leagues in Edmonton has been exceptional,” explained Elliott Putters, CEO of Exceed Solar. “We all recognize the challenges in front of us when it comes to accessing affordable food and assisting the less fortunate in our society.”
The community garden and greenhouse were installed at Freedom Cannabis Inc. in the summer of 2022, with staff and management playing an active role in maintaining the gardens. The company grew an assortment of vegetables, including celery, tomatoes, Swiss chard, carrots, and spinach, that will be harvested this fall and donated to the campus food bank at the University of Alberta.
“Not only is Freedom living up to its core values in growing great people, but there is a deep sense of satisfaction within our company, knowing that we have helped people that may be less fortunate,” explained Johnfrank Potestio, CEO of Freedom Cannabis Inc.
Exceed’s Sol Greenhouses are a necessary ingredient in fighting the effects of climate change and the associated food shortages. The greenhouses feature a solar-powered heat-pump system that not only extends the growing season, but more recently has been important in cooling the greenhouses during the long stretches of unseasonably hot weather. The main structures of the greenhouses are built with recycled plastic bottles supplied by Ecoplast Solutions, an Alberta-based company.
Exceed Solar has two more community leagues in the queue for the food network which will be launched in the coming months.
“A community-based initiative not only builds capacity in those communities,” Putters explained, “but also becomes a central focus, bringing residents even closer to their communities.”
Exceed Solar would like to thank its sponsors for this important initiative, including AltaPro Electric Inc, Visionstate Inc., and Freedom Cannabis Inc.
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 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.
About Exceed Solar Inc.
Exceed Solar Inc. is a social enterprise and the builder of ‘Sol Spaces’ - a product line of building structures that are consciously engineered and constructed to enhance daily life, empower healthy communities, and contribute to the sustainability of the planet. The Sol Greenhouse, Sol Studio and Sol Garden Suite are each innovatively designed to meet a unique and earnest customer profile including individual homeowners, community service groups, the restaurant and hospitality sector and municipalities in Edmonton and northern Alberta.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate Corp.
John Putters, Chief Executive Officer
Tel: 780-425-9460
Email: jputters@visionstate.com
CHF Capital Markets
Perry Rapagna, Manager, Corporate Development & Senior Account Manager
Tel: 416-868-1079 x230
Email: perry@chfir.com
CAUTIONARY STATEMENT
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press 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. portfolio company Freedom Cannabis completes acquisition
EDMONTON, Alberta, September 19, 2022 - Visionstate Corp. (TSXV: VIS) ("Visionstate" or the “Corporation”) is pleased to announce that portfolio company Freedom Cannabis Inc., a Canadian producer of premier cannabis products, has signed a definitive agreement to acquire the assets of Calgary-based Boaz Pharmaceuticals Inc. (boazpharm.com).
The acquisition of Boaz is expected to double the revenue for Freedom Cannabis as it expands its growing footprint. Visionstate is an early investor in Freedom Cannabis and owns approximately 3.2 million shares.
With 126,000 square feet of cultivation and manufacturing space, the Boaz assets are expected to double the production capacity of Freedom’s existing facility and provide entrance into cannabis 2.0 products. The Boaz assets consist primarily of 44 specially repurposed shipping containers equipped with new technologies to produce superior quality crops and higher yields. The containers provide opportunities for scalability and ease of installation and allow for expansion of new cannabis strains. Each container is expected to hold approximately 850 cannabis plants and yield approximately 40,000 grams.
Key Transaction Highlights:
Expands production capacity: The containers are expected to double the production capacity of the existing facility.
Lower production costs: The containers are outfitted with innovative technology which will increase yields and lower operating costs to contribute to cost efficiencies.
Enhances branded product: Boaz has a series of cannabis 2.0 products which will be integrated and expanded upon to provide diversification in Freedom’s product offering to retail consumers. In addition, Boaz has an extensive catalog of cannabis strains with the ability to supply those strains to customers.
Shareholder value: The transaction will deliver additional EBITDA to shareholders through synergies and other strategic initiatives.
Equity Investment: The principal shareholders of Boaz have committed to investing $1.8 million into Freedom Cannabis providing the Company additional working capital and demonstrating Boaz’s commitment to Freedom Cannabis.
“This is an exciting step toward our vision of expanding the scale of our quality cannabis products, while contributing to overall shareholder value,” explained Johnfrank Potestio, CEO of Freedom Cannabis. “Boaz has a demonstrated history of producing quality craft cannabis and will integrate seamlessly with our own products.”
The acquisition will provide Freedom Cannabis with additional packaging equipment for the Company’s fast-growing services division, additional growing capacity to meet the rising demand for retail products across Canada and secure a foothold into the cannabis 2.0 market.
Additionally, Freedom will acquire all inventory for Boaz and product SKUs currently offered throughout Canada, including in provinces currently not served by Freedom Cannabis, particularly in the Maritimes where Boaz has a strong market presence.
Freedom Cannabis will also be acquiring important intellectual property assets, including IP associated with Boaz’s extracts division and K-Cup product which is a unique cannabis-infused coffee drink.
“This acquisition demonstrates our commitment to revenue growth and increasing shareholder value,” explained Potestio. “Freedom Cannabis is quickly becoming one of the most well recognized and respected brands in the cannabis sector, and the acquisition of Boaz is another step in that direction.”
About Freedom Cannabis
Freedom is a leader in the cannabis industry with a focus on servicing the adult recreational market. Headquartered in Acheson, Alberta, Freedom is focused on changing lives and becoming a cult-like brand through growing quality cannabis. Driven by science and innovation, and with a focus on high quality cannabis products, Freedom continues to focus on meeting the needs of the adult cannabis recreational market.
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 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 Corp.
John Putters, Chief Executive Officer
Tel: 780-425-9460
Email: jputters@visionstate.com
CHF Capital Markets
Perry Rapagna, Manager, Corporate Development & Senior Account Manager
Tel: 416-868-1079 x230
Email: perry@chfir.com
CAUTIONARY STATEMENT
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press 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.