(TheNewswire)
Edmonton, Alberta - TheNewswire - December 12, 2023 - Visionstate Corp. (TSXV:VIS) (“ Visionstate ” or the “ Company ”), a leader in innovative facilitymanagement solutions, is pleased to announce a significant businessupdate highlighting the remarkable success of its main operatingdivision, Visionstate IoT Inc., and its groundbreaking WANDA™technology.
WANDA™ Technology Validation AmidstOngoing Threats
Visionstate IoT Inc. continues to set the industry paceby rapidly deploying its state-of-the-art WANDA™ technology in thefacility management sector. WANDA™ has proven to be an invaluabletool in validating key cleaning protocols, crucial in the face ofongoing threats posed by viruses and diseases in society.
Strategic Collaborations with LeadingCanadian Universities
Visionstate IoT is proud to share its ongoingcollaboration with two leading Canadian universities on large-scaleinstallations. These projects involve tracking thousands of areaswithin campus premises to ensure a safe and hygienic environment forstudents and staff. These collaborations not only emphasizeVisionstate's commitment to safety but also significantly contributeto the Company's recurring revenue stream, driven by itssoftware-as-a-service (SaaS) business model.
Expansion of WANDA™ Footprint inthe U.S.
The Company's substantial U.S.-based customer hasdemonstrated confidence in WANDA™'s capabilities by doubling thesize of its existing installation base. This expansion not onlyreflects the effectiveness of WANDA™ but also signifies thecontinued trust and satisfaction of Visionstate's clients in theUnited States.
New Revenue Stream: Introduction ofTime of Flight (ToF) People Counters
In response to evolving market demands, Visionstate IoThas successfully introduced Time of Flight (ToF) people counters.These innovative counters not only enhance data accuracy but alsorepresent a new revenue stream for the Company. Rolled out touniversities and colleges, the ToF people counters provide valuableinsights into traffic counts, contributing to enhanced efficiency infacility management.
International Expansion: LaunchingWANDA™ in London, England
Visionstate Corp. is actively pursuing an internationalopportunity at the head office of a global firm in London, England.This installation represents a full application of all WANDA™'sfeatures and is poised to be a launch point for additional growth inthe European market. Visionstate's entry into the European marketaligns with its strategic vision for global expansion anddiversification.
New Opportunities andDiversification
Visionstate Corp. is pleased to announce the additionof a new shopping center location in Calgary, Alberta, furtherexpanding its portfolio of properties. This strategic move reflectsthe Company's commitment to growth and diversification in keymarkets.
"I am very pleased with the rapid adoption of ourtechnology in the facility management sector. The pace at whichWANDA™ and our new Time of Flight People Counters are being embracedunderscores the industry's recognition of our commitment to innovationand excellence,” said Visionstate IoT President Shannon Moore. “Aswe approach the end of the year, I am optimistic about the prosperousnew year ahead and the continued impact our solutions will have oncreating safer, more efficient environments. The internationalopportunity in London, England represents a significant milestone forVisionstate, opening doors for continued growth and success on aglobal scale."
Board of Directors Re-election atAnnual General Meeting
Visionstate Corp. recently concluded its Annual GeneralMeeting on December 5, reaffirming its commitment to corporategovernance. The following directors were re-elected to theboard:
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John Putters
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Belinda Davidson
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Jim Duke
Their continued leadership ensures stability andstrategic guidance for the Company as it navigates a dynamic andgrowing market. Visionstate Corp. remains at the forefront ofinnovation in the facility management sector, driving advancements intechnology that promote safety, efficiency, and sustainability.
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. Visionstate IoTInc. is a wholly-owned division of Visionstate Corp. Through Visionstate IoT Inc., it helps businesses improveoperational efficiencies, reduce costs, and elevate customersatisfaction with its state-of-the-art devices that track and monitorguest activities and requests. The footprint of its WANDA™ smartdevice now extends to hospitals, airports, shopping centres, and otherpublic facilities across and beyond North America. Through building upa collection of synergistic technologies, Visionstate Corp. willcontinue to innovate, reduce environmental impact and transformconsumer 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:
Facebook:
LinkedIn:
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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