VIS:CC - Visionstate's Announces Updated Financing

(TheNewswire)

Edmonton, Alberta – TheNewswire - November9, 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 theCorporation (“Common Share”) and one full  Common Share purchasewarrant (“Warrant”) at a price of $0.05 for every Common Sharepurchased, with an expiry date 24 months after the closing of theprivate placement. 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 Corporation’s technology, operatingcapital and investigating a US quotation on the OTCQB.

The private placement replaces the financing announcedon September 9, 2022, which was priced at 0.02 cents per share fortotal proceeds of $350,000.

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 Common Sharesis available to all security holders of Visionstate who held commonshares on the record date of October 31, 2022. Shareholders residentin Ontario, Newfoundland and Labrador, and countries other than Canadawill need to meet local jurisdiction requirements to participate.  IfVisionstate receives total subscriptions pursuant to the existingsecurity 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-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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