VIS:CC - Visionstate Announces Financing to Enhance Product Development and Marketing

(TheNewswire)

Edmonton, Alberta – TheNewswire - September 12, 2022 – Visionstate Corp. (TSXV:VIS) (“Visionstate”or the “Company”) is pleased to announce that ,subject to regulatory approval, the Corporation intends to complete anoffering ("Offering") of up to 17,500,000 units of theCorporation (“Units”) at a price of $0.02 per Unit for grossproceeds of up to $350,000. Each Unit iscomprised of one (1) common share of Visionstate (“Common Share”)and one (1) Common Share purchase warrant (“Warrant”) whereby eachWarrant entitles the holder to purchase one (1) additional CommonShare at a price of $0.05 per Common Share for a period of two (2)years following the date of closing.

The price per Common Share has been set at the lasttrading price on the TSX Venture Exchange before the issuance of thispress release.

The net proceeds from the sale of Units will be used bythe Corporation for marketing and sales initiatives, research anddevelopment to enhance the Company’s technology, general operatingcapital and investigating a quotation on the U.S. OTCQB.

In connection with the Offering, Visionstate will berelying on the existing security holders’ exemption as well as otheravailable prospectus exemptions. For those investors relying upon theexemption for existing security holders, the aggregate acquisition cost to a subscribing shareholder ofall securities of Visionstate cannot exceed $15,000 in the previous 12months, unless that shareholder has obtained advice regarding thesuitability of the investment from a registered investment dealer inthe subscriber’s jurisdiction.  The offer to purchase Units isavailable to all security holders of Visionstate who held commonshares on the record date of September 11, 2022.  Shareholdersresident in countries other than Canada need to meet localjurisdiction requirements to participate.  If Visionstate receivestotal subscriptions pursuant to the existing security holders’exemption which causes the Offering to exceed $350,000, Visionstatewill accept such subscriptions on a first come, first served basis.

In accordance with TSX Venture Exchange Policy 4.1, theCorporation wishes to advise that it will not beproceeding with the previously announced privateplacement on June 24, 2022.  The Corporation still wishes to proceedwith a private placement and accordingly confirms this by way of thispress release.

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 andanalytics, and sustainability. Through Visionstate Inc., it helpsbusinesses improve operational efficiencies, reduce costs and elevatecustomer satisfaction with its state-of-the-art devices that track andmonitor guest activities and requests. The footprint of its WANDA™smart device now extends to hospitals, airports, shopping centres andother public facilities across and beyond North America. Throughbuilding up a collection of synergistic technologies, VisionstateCorp. will continue to innovate, reduce environmental impact andtransform consumer experiences.

Issued on behalf of the Board of Directors,

“John A. Putters”

Visionstate Corp.

Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.

Forward-Looking Statements

Certain information set forth in this material maycontain forward-looking statements that involve substantial known andunknown risks and uncertainties. All statements other than statementsof historical fact are forward-looking statements, including, withoutlimitation, statements regarding future financial position, businessstrategy, use of proceeds, corporate vision, proposed acquisitions,partnerships, joint-ventures and strategic alliances andco-operations, budgets, cost and plans and objectives of or involvingthe Company. Such forward-looking information reflects management'scurrent beliefs and is based on information currently available tomanagement. Often, but not always, forward-looking statements can beidentified by the use of words such as "plans","expects", "is expected", "budget","scheduled", "estimates", "forecasts","predicts", "intends", "targets","aims", "anticipates" or "believes" orvariations (including negative variations) of such words and phrasesor 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 orperformance to materially differ from any future results orperformance expressed or implied by the forward-looking information.These forward-looking statements are subject to numerous risks anduncertainties, certain of which are beyond the control of the Companyincluding, but not limited to, the impact of general economicconditions, industry conditions and dependence upon regulatoryapprovals. Readers are cautioned that the assumptions used in thepreparation of such information, although considered reasonable at thetime of preparation, may prove to be imprecise and, as such, unduereliance should not be placed on forward-looking statements. TheCompany does not assume any obligation to update or revise itsforward-looking statements, whether as a result of new information,future events, or otherwise, except as required by securitieslaws.

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