EDMONTON, Alberta, February 26, 2021 (GLOBE NEWSWIRE) – Corp Visionstate (TSX-V: VIS) (“Visionstate”) is pleased to announce the final acceptance of the TSX Venture Exchange and the closure of its unbroken private space financing (“Business Placement”) for total profits of $ 1,505,000 or 30,100,000 units (“Units” ) at a price of $ 0.05 per Unit.
Private Space was originally announced on February 1, 2021 for up to $ 750,000 and increased to $ 1,500,000 on February 11, 2021, for up to 30,000,000 units (“Units”), at a price of $ 0.05 per Unit. On February 26, 2021, Visionstate closed subscriptions of 30,100,000 Units for a total production of $ 1,505,000 which included 2,445,000 units donated to the Company’s exclusive insurers.
Each Unit consists of one (1) common division in the capital Visionstate Corp. (“Common sharing“) and one (1) general allotment purchase warrant (“Barantas“), by which each Warrant entitles the custodian to purchase one (1) General Share at a price of $ 0.07 for a period of 36 months from the closing date.
The deportation of Units to Attackers in accordance with the Private Situation will be a “related party transaction” as defined under Multilateral Instrument 61-101, Protection of Minority Security Guards in Special Operations (“MI 61-101”). The Offer will be exempt from formal evaluation and MI 61-101 minority shareholder consent requirements. Visionstate expects that the exemptions set out in paragraphs (a) and (b) of section 5.5 of MI 61-101 will apply as the overall opinion payable by the parties will not co. -bound higher than 25% of Visionstate and Visionstate market capitalization is not listed on the Toronto stock exchange, but only on the TSX Venture Exchange. In addition, in the case of minority shareholder consent exemptions, the independent directors have determined that the exemptions set out in paragraphs (1) (a) and (b) of Section 5.7 of MI 61-101 applies as the full idea is payable. with the related parties not exceeding 25% of the Visionstate market capitalization, the distribution of the securities to the related parties shall have a fair market value not exceeding $ 122,250 and Visionstate is not listed on the Toronto Stock Exchange , but only on the TSX Venture Exchange.
The securities issued under the private position are subject to a retention period of four months from the time the private place closed.
In addition, the Company has paid finder’s fee, in the total amount of $ 8,880 cash and 2970,00 in broker warrants at a price of $ .07 per warrant, in connection with the the entire Private Situation.
Visionstate will use the net profits from the Private Placement for general working capital and the growth of its business.
About Visionstate Corp.
The Visionstate Corp. (TSX-V: VIS) is a growth-based company that invests in the research and development of promising new technology in the internet world of objects, big data and analytics, and sustainability. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs and increase customer satisfaction with their state-of-the-art tools that track and monitor guest activity and requests. . The footprint of the WANDA smart smart device is now expanding to hospitals, airports, shopping malls and other public facilities across and outside North America. Through building a collection of synergistic technologies, Visionstate Corp. will continue to. continue to innovate, reduce environmental impact and change customer experiences.
Issued on behalf of the Board of Directors of Visionstate Corp.
“Putters John A.”
Corp. Visionstate Corp.
For more information contact: