Visionstate Corp. Announces Private Placement
February 01 2021 - 6:36PM
Visionstate Corp. (TSX Venture: VIS) ("Visionstate") is pleased to
announce that, subject to regulatory approval, the Corporation
intends to complete an offering ("Offering") of up to 15,000,000
common shares of the Corporation (“Common Share”) at a price of
$0.050 per Common Share for gross proceeds of up to $750,000.
The Offering includes one full warrant at 7
cents for every common share purchased, with an expiry date 36
months after the closing of the private placement. The price per
Common Share has been set at the last trading price on the TSX
Venture Exchange before the issuance of this press release.
Visionstate intends to use the proceeds from the
Private Placement to invest in corporate development and awareness,
general operating capital, as well as investing in the Company’s
strategy to expand its Internet of Things technology into the
cannabis sector with Freedom Cannabis, which was announced as a
non-binding Memorandum of Understanding on January 21, 2021.
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 Common
Shares is available to all security holders of Visionstate who held
common shares on the record date of December 31, 2020. Shareholders
resident in Ontario, Newfoundland and Labrador, and countries other
than Canada will 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 $750,000, Visionstate will accept such
subscriptions on a first come, first served basis.
About Visionstate:
Visionstate Corp. (TSX-V: 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 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 WANDATM smart device
now extends to hospitals, airports, shopping centers 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.
To learn more, please contact: |
Visionstate Corp. |
CHF Capital Markets |
Website: www.visionstate.com |
John Putters, CEO |
Cathy Hume, CEO |
Twitter: @visionstate |
(780) 425-9460 |
(416) 868-1079 x 229 |
Facebook: @visionstate |
jputters@visionstate.com |
cathy@chfir.com |
LinkedIn: @VisionstateCorp. |
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.
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