Visionstate Corp. Announces Private Placement
January 07 2020 - 9:17AM
Visionstate Corp. (TSX Venture: 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 10,000,000 common shares of the Corporation
(“Common Share”) at a price of $0.025 per Common Share for gross
proceeds of up to $250,000. The Offering includes one full
warrant at 5 cents for every common share purchased. The pricing of
the Offering is made in reliance on the temporary relief measures
established by the TSX Venture Exchange Bulletin dated April 7,
2014. The price per Common Share has been set in accordance
with the TSX Venture Exchange Policies and Bulletin with the last
trading and closing price on the TSX Venture Exchange at $0.02 per
Common Share prior to the issuance of this press release.
In connection with the Offering, Visionstate
will be relying on the existing securityholders exemption as well
as other available prospectus exemptions. For those investors
relying upon the exemption for existing securityholders, 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 January 6th, 2020.
Shareholders resident in 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 $250,000, Visionstate will accept such
subscriptions on a first come, first served basis.
Visionstate intends to use the proceeds from the
maximum Offering as follows: WANDA software development,
specifically IoT (Internet of Things) buttons and a mobile app
integrated with WANDA, WANDA hardware inventory for internal sales,
and general and administrative expenses. Should the maximum
Offering not be achieved, the use of proceeds will be adjusted by
Visionstate. There is no minimum Offering.
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 WANDA™ 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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