Visionstate AnnouncesConditional Approval of Financing and 30-Day Extension
Edmonton, Alberta – TheNewswire - February 8, 2024– Visionstate Corp. (TSXV:VIS) (“Visionstate” or the “Company”), is pleased toannounce it has received conditional approval from the TSX Venture Exchange forthe Company’s current non-brokered financing of up to $400,000 announcedNovember 23, 2023. The Company would also like to announce the Exchange hasgranted an extension to the financing which will now close on or before March7, 2024.
The Company is undertaking a $400,000 financingfor the issuance of 20,000,000 units at $0.02 per unit, with each unitconsisting of one common share and one full warrant exercisable at $0.05 fortwo years.
The funds raised will primarily be allocated toexpand the Company's product marketing efforts in the United States, whereVisionstate IoT Inc., the Company's main operating division, has alreadyestablished a strong presence with several prominent customers. The targetedfocus will be on resellers of the WANDA™ product, a cutting-edge facilitymanagement application designed to track cleaning and maintenance activities.
In addition to fortifying its position in the USmarket, Visionstate Corp. will allocate resources to enhance its ViCCi 2.0product. Set to launch in 2024, ViCCi 2.0 represents a significant evolutionfrom its predecessor, leveraging artificial intelligence and conversationalinterfaces to provide advanced virtual customer assistance in brick and mortarsettings.
About Visionstate Corp.
Visionstate Corp. (TSXV: VIS) is a growth-orientedcompany that invests in the research and development of promising newtechnology in the realm of the Internet of Things, big data and analytics, andsustainability. Visionstate IoT Inc. is a wholly owned division of VisionstateCorp. Through Visionstate IoT Inc., it helps businesses improve operationalefficiencies, reduce costs, and elevate customer satisfaction with itsstate-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 consumerexperiences.
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: [email protected]
Tel: 780-425-9460
CHF Capital Markets
Kathy Chapman
Email: [email protected]
Tel: 416-868-1079 x 234
