Visionstate Corp. Achieves Unprecedented Installation Pace of WANDA™ Technology in Facility Management Sector
Edmonton, Alberta - December 12, 2023 – Visionstate Corp. (TSXV:VIS) (“Visionstate” or the “Company”), a leader in innovative facility management solutions, is pleased to announce a significant business update highlighting the remarkable success of its main operating division, Visionstate IoT Inc., and its groundbreaking WANDA™ technology.
WANDA™ Technology Validation Amidst Ongoing Threats
Visionstate IoT Inc. continues to set the industry pace by rapidly deploying its state-of-the-art WANDA™ technology in the facility management sector. WANDA™ has proven to be an invaluable tool in validating key cleaning protocols, crucial in the face of ongoing threats posed by viruses and diseases in society.
Strategic Collaborations with Leading Canadian Universities
Visionstate IoT is proud to share its ongoing collaboration with two leading Canadian universities on large-scale installations. These projects involve tracking thousands of areas within campus premises to ensure a safe and hygienic environment for students and staff. These collaborations not only emphasize Visionstate's commitment to safety but also significantly contribute to the Company's recurring revenue stream, driven by its software-as-a-service (SaaS) business model.
Expansion of WANDA™ Footprint in the U.S.
The Company's substantial U.S.-based customer has demonstrated confidence in WANDA™'s capabilities by doubling the size of its existing installation base. This expansion not only reflects the effectiveness of WANDA™ but also signifies the continued trust and satisfaction of Visionstate's clients in the United States.
New Revenue Stream: Introduction of Time of Flight (ToF) People Counters
In response to evolving market demands, Visionstate IoT has successfully introduced Time of Flight (ToF) people counters. These innovative counters not only enhance data accuracy but also represent a new revenue stream for the Company. Rolled out to universities and colleges, the ToF people counters provide valuable insights into traffic counts, contributing to enhanced efficiency in facility management.
International Expansion: Launching WANDA™ in London, England
Visionstate Corp. is actively pursuing an international opportunity at the head office of a global firm in London, England. This installation represents a full application of all WANDA™'s features and is poised to be a launch point for additional growth in the European market. Visionstate's entry into the European market aligns with its strategic vision for global expansion and diversification.
New Opportunities and Diversification
Visionstate Corp. is pleased to announce the addition of a new shopping center location in Calgary, Alberta, further expanding its portfolio of properties. This strategic move reflects the Company's commitment to growth and diversification in key markets.
"I am very pleased with the rapid adoption of our technology in the facility management sector. The pace at which WANDA™ and our new Time of Flight People Counters are being embraced underscores the industry's recognition of our commitment to innovation and excellence,” said Visionstate IoT President Shannon Moore. “As we approach the end of the year, I am optimistic about the prosperous new year ahead and the continued impact our solutions will have on creating safer, more efficient environments. The international opportunity in London, England represents a significant milestone for Visionstate, opening doors for continued growth and success on a global scale."
Board of Directors Re-election at Annual General Meeting
Visionstate Corp. recently concluded its Annual General Meeting on December 5, reaffirming its commitment to corporate governance. The following directors were re-elected to the board:
· John Putters
· Belinda Davidson
· Jim Duke
Their continued leadership ensures stability and strategic guidance for the Company as it navigates a dynamic and growing market. Visionstate Corp. remains at the forefront of innovation in the facility management sector, driving advancements in technology that promote safety, efficiency, and sustainability.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly-owned division of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Corp. Announces Private Placement to Fund US Expansion
Edmonton, Alberta - November 24, 2023 – Visionstate Corp. (TSXV:VIS) (“Visionstate” or the “Company”) a leading provider of smart facility-management technology, today announced, subject to regulatory approval, a private placement to raise $400,000 for the issuance of 20,000,000 units at $0.02 per unit, with each unit consisting of one common share and one full warrant exercisable at $0.05 for two years.
The funds raised will primarily be allocated to expand the Company's product marketing efforts in the United States, where Visionstate IoT Inc., the Company's main operating division, has already established a strong presence with several prominent customers. The targeted focus will be on resellers of the WANDA™ product, a cutting-edge facility management application designed to track cleaning and maintenance activities.
In addition to fortifying its position in the US market, Visionstate Corp. will allocate resources to enhance its ViCCi 2.0 product. Set to launch in the first quarter of 2024, ViCCi 2.0 represents a significant evolution from its predecessor, leveraging artificial intelligence and conversational interfaces to provide advanced virtual customer assistance in brick and mortar settings.
Shannon Moore, President of Visionstate IoT Inc., commented on the significance of these developments: "We are at an inflection point when it comes to facility management software. Like other businesses, facility managers are looking at new ways of controlling costs and ensuring efficiency; our WANDA™ product enables them to do that, powered by analytical data on the operations."
The financing round and strategic initiatives underscore Visionstate Corp.'s commitment to driving innovation in facility management solutions, cementing its position as a leader in the rapidly evolving technology landscape. It is anticipated existing shareholders and insiders will participate in the financing.
In connection with the Offering, Visionstate will be relying on the existing security holders’ exemption as well as other available prospectus exemptions. For those investors relying upon the exemption for existing security holders, the aggregate acquisition cost to a subscribing shareholder of all securities of Visionstate cannot exceed $15,000 in the previous 12 months, unless that shareholder has obtained advice regarding the suitability of the investment from a registered investment dealer in the subscriber’s jurisdiction. The offer to purchase Units is available to all security holders of Visionstate who held common shares on the record date of November 23, 2023.
Shareholders residing in countries other than Canada need to meet local jurisdiction requirements to participate. If Visionstate receives total subscriptions pursuant to the existing security holders’ exemption which causes the Offering to exceed $400,000, Visionstate will accept such subscriptions on a first come, first served basis.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly-owned subsidiary of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact, and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Corp. Announces Game-Changing Roll Out of WANDA™ Platform
Latest installation highlights the flexibility of WANDA™
Edmonton, Alberta - November 9, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”), a leading provider of innovative software solutions, is thrilled to announce its latest achievement – a multi-location contract with a large post-secondary institution. This collaboration signifies another “use case” milestone for Visionstate, as it continues to expand the horizons of smart technology solutions.
Under this agreement, Visionstate will implement its cutting-edge WANDA™ software for fleet management, revolutionizing the institution's vehicle management processes. This transformative installation will serve more than 500 users across multiple locations, streamlining the check-in/check-out procedures for fleet vehicles and digitizing the storage of crucial information on the WANDA™ portal.
"This partnership underscores our commitment to harnessing technology for real-world solutions," said Shannon Moore, President of Visionstate IoT. "We are proud to be at the forefront of transformative fleet management, addressing longstanding challenges and opening doors to predictive maintenance capabilities."
Traditionally, paper-based check-in and check-out procedures often resulted in challenges such as misplaced paperwork, missed check-ins, and incomplete records. This innovative installation will resolve these issues by creating a seamless, digital system for fleet management, ensuring transparency and accountability.
One of the most exciting aspects of this collaboration is the potential for predictive maintenance. By digitally monitoring the usage and maintenance of the fleet vehicles over time, WANDA™ software will gather valuable insights. These insights will enable the institution to proactively address maintenance needs, reduce downtime, and optimize the performance and longevity of its fleet.
Visionstate is excited about the opportunities that this contract brings and is dedicated to continuing its mission of providing innovative solutions that drive efficiency, accountability, and sustainability.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly-owned subsidiary of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact, and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Corp. Announces Three-Year Contract with Bunzl Canada for Exclusive Distribution of WandaNEXT
New contract expected to double existing revenue in Canada
Edmonton, Alberta - October 16, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”), is pleased to announce that its wholly-owned subsidiary, Visionstate IoT Inc., has entered into a new three-year contract with Bunzl Canada Inc. (Bunzl Canada) for the exclusive distribution of the Company's proprietary WandaNEXT product. The agreement grants Bunzl Canada exclusive distribution rights for Canada, Australia, and the UK, while Visionstate IoT will handle direct sales into the U.S. utilizing its existing internal sales resources.
The new contract represents a significant milestone for Visionstate IoT and is expected to double existing revenue associated with the exclusive distribution rights in the Canadian market. Furthermore, it opens new territories internationally, reinforcing the Company's commitment to expanding its footprint in the global facility-management sector.
WANDA™, Visionstate's flagship product, is an application widely used across various industry sectors to monitor cleaning protocols and enhance overall efficiency in delivering building services. The technology has proven instrumental in elevating standards of cleanliness and operational excellence.
Commenting on the milestone, John Putters, CEO of Visionstate Corp., stated, "We are thrilled to extend our partnership with Bunzl Canada and strengthen our position in the global market. This new three-year contract not only underscores the value of our product but also marks a significant step towards achieving our strategic objectives. We look forward to continuing to work in conjunction with Bunzl Canada to drive innovation and deliver cutting-edge solutions to our clients."
The agreement includes revenue-sharing arrangements in the three distribution territories, fostering a mutually beneficial partnership between Visionstate Corp. and Bunzl Canada. The collaboration extends beyond distribution, as both companies work closely on the ongoing development and enhancement of the WandaNEXT platform. Visionstate leverages its expertise in innovative development, while Bunzl Canada contributes its extensive global distribution network for sales and marketing initiatives.
“We are very excited about the new capabilities the next phase of our partnership with Visionstate will bring to our customers,” said Margo Hunnisett, Vice President, Marketing & Communications at Bunzl Canada. “Technology is transforming the cleaning industry and we are committed to continually positioning ourselves at the forefront, introducing innovations that empower our customers to be more efficient, more effective, and more sustainable.”
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly-owned subsidiary of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact, and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Advances IoT Technology Deployment Globally
Edmonton, Alberta – September 21, 2023 – Visionstate Corp. (TSXV:VIS) (“Visionstate” or the “Company”), a leading innovator in IoT technology for the facility management industry, is proud to announce significant advancements in its global expansion efforts. With a strong focus on enhancing facility management practices, Visionstate IoT Inc., the company’s main operating division, continues to make strides in improving operational efficiency and cleanliness in various sectors.
Major Deployment in Canada
Visionstate IoT has embarked on a major deployment project in collaboration with one of the largest universities in Canada. To date, the company has successfully completed installations in five buildings, with 12 more buildings slated for deployment. This landmark project showcases Visionstate's commitment to revolutionizing facility management across academic institutions, ensuring a safe and productive environment for students and staff.
International Trials in the UK and Australia
In London, UK, Visionstate is conducting a trial of its cutting-edge IoT technology at the head office of a prominent global ride-sharing company. This initiative aims to demonstrate the capabilities of Visionstate's solutions in optimizing workspace cleanliness and maintenance protocols within corporate environments.
Meanwhile, Visionstate has successfully completed an installation in Australia, marking its initial foray into this burgeoning market. The company is excited about the prospects of expanding its footprint and delivering its innovative solutions to organizations across the Australian continent.
Expanding Presence in the US
In the United States, Visionstate IoT is aggressively expanding its presence and forging key partnerships. The company is currently working with partners to deploy its flagship product, Wanda, in a prominent restaurant chain. Visionstate will also be a prominent presence at key industry tradeshows across the US over the next 12 months, aiming to solidify its position as a frontrunner in facility management technology within the US market.
Global Partnership and Strategic Initiatives
Visionstate is actively working towards concluding a comprehensive contract with its global partner, which will encompass Canada and specific territories internationally. This strategic partnership is expected to elevate Visionstate's reach and influence in the global facility management arena.
Enhanced Marketing and Online Presence
Over the next quarter, Visionstate will intensify its efforts to expand its social media presence for Wanda, engaging with a wider audience and sharing valuable insights on facility management best practices. The company is also set to launch a targeted marketing campaign in the US, aimed at raising awareness about its innovative solutions. In addition, Visionstate will unveil a new website that will better represent its products and capabilities, making it easier for potential customers to explore the benefits of its cutting-edge technology.
Wanda, Visionstate's flagship facility management tool, is designed to meticulously track cleaning and maintenance protocols, ensuring optimal cleanliness and operational efficiency in various industries.
"We are excited about the rapid expansion of our IoT technology solutions worldwide," said Shannon Moore, President of Visionstate IoT Inc. "Our commitment to enhancing facility management practices continues to drive us forward, and we look forward to delivering our innovative solutions to more organizations, helping them achieve excellence in cleanliness and efficiency."
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly-owned subsidiary of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact, and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Announces Closing of Previously Announced Private Placement
EDMONTON, Alberta - August 18, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) is pleased to announce the close of the private placement offering (the “Offering”) previously announced on June 8, 2023. At the close, Visionstate raised $500,000 through the issuance of 25,000,000 units ("Units") at a price of $0.02 per Unit. Each Unit is comprised of one (1) common share in the capital of Visionstate (“Common Share”) and one (1) Common Share purchase warrant (“Warrant”) whereby each Warrant entitles the holder to purchase one (1) additional Common Share at a price of $0.05 per Common Share for a period of two (2) years following the date of closing.
If the closing price of the Common Shares is equal to or exceeds $0.07 per Common Share for greater than twenty (20) consecutive trading days, then the warrant term shall automatically accelerate to a date that is thirty (30) calendar days following the date a press release is issued by the Company announcing the reduced warrant terms, without further notification made by the Company.
The issuance of Units to a person holding more than 10% of the Common Shares of Visionstate constitutes a “related party transaction” in accordance with TSX Venture Exchange Policy 5.9, Protection of Minority Security Holders in Special Transactions, which incorporates Multilateral Instrument 61-101 (“MI 61-101”). The Offering will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. In particular, Visionstate has determined that the exemptions set out in paragraphs (a) and (b) in section 5.5 of MI 61-101 are applicable since the aggregate consideration to be paid by the related parties will not exceed 25% of the market capitalization of Visionstate and Visionstate is not listed on the Toronto Stock Exchange, but only on the TSX Venture Exchange. In addition, regarding the minority shareholder approval exemptions, the independent directors have determined that the exemptions set out in paragraphs (1)(a) and (b) in section 5.7 of MI 61-101 are applicable in that the aggregate consideration to be paid by the related parties will not exceed 25% of the market capitalization of Visionstate, the distribution of the securities to the related parties will have a fair market value of not more than $2,500,000 and Visionstate is not listed on the Toronto Stock Exchange, but only on the TSX Venture Exchange.
The net proceeds from the sale of Units will be used by the Company towards the development and rollout of ViCCi 2.0, an artificial intelligence application designed to enhance customer service, for marketing and sales initiatives of the Wanda™ technology to global markets and for general operating capital.
Pursuant to applicable Canadian securities laws, the Common Shares and Warrants comprising the Units are subject to a four-month hold period from the time of closing of the Offering.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Tel: 780-425-9460
Email: shannon@visionstate.com
CHF Capital Markets
Kathy Chapman
Tel: 416-868-1079 x 234
Email: kc@chfir.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Q3 2023 Newsletter
Message from the president
I am delighted to address you all in this edition of our Q3 2023 newsletter. The past few months have opened up exciting opportunities for Visionstate to grow our business both in Canada and internationally. Our unwavering commitment to innovation and customer satisfaction has paved the way for exciting developments and prospects on multiple fronts.
Visionstate and NEDlabs Join Forces to Revolutionize People Counting with Time-of-Flight Sensors
EDMONTON, Alberta - July 6, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) Visionstate IoT Inc., a pioneer in IoT (Internet of Things) technology for facility management, and NEDlabs (NEDlabs.ca), a leading provider of industrial IoT and builder of smart home solutions, are proud to announce their collaboration on a cutting-edge project that will change the way people counting is performed. The project involves the integration of NEDsense Time-of-Flight (“ToF”) sensors, developed by NEDlabs, into Visionstate’s WANDA™ platform which tracks cleaning and maintenance activities in public and private facilities.
People counting is a critical aspect of many industries, including retail, hospitality, and events management, as it helps businesses to understand foot traffic and make data-driven decisions. The current methods of people counting, such as infrared sensors and video cameras, can be expensive, unreliable, and provide inaccurate results. With the integration of NEDsense ToF sensors, Visionstate is aiming to provide a more accurate solution that will help businesses make more informed decisions.
"We're thrilled to be collaborating with NEDlabs on this exciting project," said Shannon Moore, President of Visionstate IoT Inc. "By integrating time of flight sensors into our platform, we can provide our customers with a more accurate and reliable solution for people counting. This will have a significant impact on the way businesses operate and make data-driven decisions."
The ToF sensors use advanced technology to measure the time it takes for a light signal to travel from the sensor to the target and back, providing a highly-accurate measurement of distance. This technology has been proven to provide accurate results even in challenging environments, such as crowded spaces or areas with high levels of ambient light.
"We're moving quickly with NEDlabs on this project," said Moore. "The NEDsense Time-of-Flight sensors are at the forefront of sensor technology, and we're confident that their integration into our platform will provide a game-changing solution for people counting."
Visionstate is investing further into connected sensors which will expand the Company’s customer base while offering a larger suite of products.
About NEDlabs
NEDlabs is a leading provider of industrial IoT and builder of smart home solutions, offering a wide range of products and services designed to make systems more effective, convenient, and intelligent. With a focus on innovation, speed to market, and customer satisfaction, NEDlabs is committed to providing the best solutions for its clients.
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
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 Unit Private Placement for US Expansion and AI Development
EDMONTON, Alberta - June 8, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”), a leading provider of IoT (Internet of Thing) facility-management technology, is pleased to announce, subject to regulatory approval, a private placement to raise $500,000 by the issuance of 25,000,000 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 also disclosed its intention to utilize the proceeds to enhance its exposure and business in the United States. In conjunction with the US business expansion, Visionstate seeks to pursue a quotation on the OTCQB market in the US.
The funds raised from the private placement will be allocated towards the development and rollout of ViCCi 2.0, an artificial intelligence application designed to enhance customer service and for general operating capital. Additionally, the proceeds will support sales and marketing initiatives aimed at expanding the reach of Visionstate's proprietary Wanda™ technology to global markets. A portion of the proceeds will also be designated for general operating capital.
ViCCi 2.0 represents an innovative tool that leverages artificial intelligence to provide businesses with real-time insights into customer behavior, preferences, and feedback. Through ViCCi 2.0, businesses can optimize their customer service, sales, and marketing efforts, leading to improved customer engagement, loyalty, and revenue. Visionstate has partnered with AI startup Fluidio.ai to pursue opportunities related to ViCCi 2.0.
"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 significantly expedite the rollout of ViCCi 2.0 and expand Wanda's presence beyond Canada. Moreover, it will provide us with the necessary working capital to support our ongoing operations."
Visionstate's Wanda™ IoT platform has been successfully deployed in various public spaces, including hospitals, airports, and shopping malls across Canada.
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 conjunction with the Offering, Visionstate will utilize the existing security holders' exemption and other available prospectus exemptions. For investors relying on the existing security holders' exemption, the total acquisition cost of Visionstate securities cannot exceed $15,000 in the previous 12 months, unless the shareholder has obtained investment advice from a registered investment dealer in their jurisdiction. The offer to purchase Units is open to all security holders of Visionstate who held common shares on the record date of June 7, 2023.
Shareholders residing outside of Canada must comply with local jurisdiction requirements to participate. In the event that subscriptions received pursuant to the existing security holders' exemption cause the Offering to exceed $500,000, Visionstate will accept such subscriptions on a first come, first served basis. The participation in the Offering by a director, executive officer or insider 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.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly-owned subsidiary of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs, and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact, and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Email: shannon@visionstate.com
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: kc@chfir.com
Tel: 416-868-1079 x 234
Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Visionstate Announces Final Exchange Approval and Close of Previously Announced Private Placement and Early Warning Report
EDMONTON, Alberta - May 17, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) is pleased to announce receipt of final approval from the TSX Venture Exchange on the close of the private placement offering (the “Offering”) previously announced on March 13, 2023 and April 4, 2023. At the close, Visionstate raised $459,500 through the issuance of 22,975,000 units ("Units") at a price of $0.02 per Unit. Each Unit is comprised of one (1) common share in the capital of Visionstate (“Common Share”) and one (1) Common Share purchase warrant (“Warrant”) whereby each Warrant entitles the holder to purchase one (1) additional Common Share at a price of $0.05 per Common Share for a period of two (2) years following the date of closing.
If the closing price of the Common Shares is equal to or exceeds $0.07 per Common Share for greater than twenty (20) consecutive trading days, then the warrant term shall automatically accelerate to a date that is thirty (30) calendar days following the date a press release is issued by the Company announcing the reduced warrant terms, without further notification made by the Company.
The issuance of Units to insiders pursuant to the Offering constitutes a “related party transaction” in accordance with TSX Venture Exchange Policy 5.9, Protection of Minority Security Holders in Special Transactions, which incorporates Multilateral Instrument 61-101 (“MI 61-101”). The Offering will be exempt from the formal valuation 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 to invest in corporate development and awareness, general working capital, marketing and sales initiatives to expand internationally and to acquire an OTC listing in the United States.
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.
New Insider
With the closing of the Offering, Mr. Charles Monte Goble will become a new insider of the Company. Mr. Goble purchased a total of 11,875,000 Units or $237,500 of the Offering. As a result, Mr. Goble will own approximately 19.85% of the outstanding common shares of the Company upon closing.
Early Warning Report Requirements
Mr. Charles Monte Goble, who currently owns or controls (directly or indirectly) 17,134,991 (approximately 13.91%) of the issued and outstanding Common Shares on a non-diluted basis prior to the closing, acquired 11,875,000 Units pursuant to the Offering, being approximately 51.69% of the Units issued in the Offering. Each Unit is comprised of one (1) Common Share and one (1) Warrant. Each Warrant is exercisable into one (1) Common Share at an exercise price of $0.05 per Common Share for a period of two (2) years from the date of issuance.
Prior to the Offering, Mr. Goble (directly or indirectly) owned 17,134,991 Common Shares and 5,086,364 warrants (“Prior Warrants”) exercisable to acquire an aggregate of 5,086,364 Common Shares of the Company. If the Prior Warrants held by Mr. Goble were exercised in full, Mr. Goble would own (directly or indirectly) approximately 18.04% of the then issued and outstanding Common Shares, on a partially diluted basis.
After the closing of the Offering, Mr. Goble (directly or indirectly) will own 20,009,991 Common Shares and an aggregate of 16,961,354 warrants, comprised of the Warrants and the Prior Warrants. Assuming the exercise of all outstanding Warrants and Prior Warrants (and assuming no further issuances of Common Shares), Mr. Goble would then own and/or have control over, directly or indirectly, 45,971,355 Common Shares, representing approximately 31% of the issued and outstanding Common Shares of the Company on a partially diluted basis.
The Units were acquired for investment purposes. Mr. Goble has no current intention to enter into any of the transactions listed in item 5 of Form 62-103F1 of National Instrument 62-103 but in the future may, depending on market and other conditions, increase or decrease its ownership of the Company’s securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities. An early warning report will be filed by Mr. Charles Monte Goble in accordance with applicable securities laws and will be available under the Company’s SEDAR profile at www.sedar.com.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. 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 Upsizes Previously Announced Placement to $550,000 Due to Market Demand
EDMONTON, Alberta - April 4, 2023 - Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Company”) is pleased to announce that due to strong investor demand it has increased the size of the previously announced non-brokered private placement offering of units (“Units”) to $550,000 or up to 27,500,000 units, at a price of $.02 per Unit, subject to regulatory approval. Each Unit is comprised of one (1) common share in the capital of Visionstate Corp. (VIS) and one (1) common share purchase warrant at $0.05 cents for a period of 24 months from the date of closing.
The closing of the offering is subject to certain conditions, including but not limited to, the receipt of all regulatory approvals, including the acceptance of the TSX Venture Exchange. The securities issued under the offering will be subject to the standard four-month hold.
Visionstate intends to use the proceeds from the Private Placement to invest in corporate development and awareness, general operating capital, marketing and sales to expand internationally, and to acquire an OTC listing in the US.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.
Issued on behalf of the Board of Directors,
“John A. Putters”
Visionstate Corp.
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
Tel: 780-425-9460
Email: shannon@visionstate.com
CHF Capital Markets
Kathy Chapman
Tel: 416-868-1079 x 234
Email: kc@chfir.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.