Edmonton, AB – August 6, 2024 – TheNewswire – Visionstate Corp. (TSXV: VIS), a leader in Internet of Things (IoT) technology and innovation, is pleased to announce the successful completion of its virtual Annual General Meeting (AGM) held on Wednesday, July 31, 2024. The meeting was marked by significant approvals and exciting updates on the company's future.

Board Appointments and Control Position Approval

Shareholders voted overwhelmingly in favour of all official business items presented at the AGM. This includes the appointment of a new board, which will be led by Jim Duke as Chairman, alongside Belinda Davidson and John Putters. Their collective expertise is expected to drive Visionstate Corp. forward in its next phase of growth and innovation.

Additionally, shareholders approved the establishment of a new control position, which removes prior investment restrictions. This pivotal decision enables Visionstate Corp. to proceed with its private placement, which is anticipated to close on or about August 15, 2024. This development is a key milestone for the company, positioning it for enhanced flexibility and growth opportunities.

Business Operations and Strategic Expansion

Visionstate IoT Inc. President Shannon Moore provided a comprehensive update on the company's business operations. Key highlights include:

• Expansion in Canada: Visionstate is extending its reach into secondary educational institutions across the country. The Company is currently is negotiations to expand its reach into multiple secondary educational institutions across the country. As well, an additional 12 buildings at Queens University is slated for WANDA deployment in the near future. 

• European Market Penetration: The company is broadening its footprint in European hospitals, with a focus on facilities in Belgium. Visionstate has already deployed WANDA to Belgian hospitals and seeks to expand the install base throughout Europe.  

• U.S. Market Growth: Visionstate is also setting its sights on the U.S. market, with plans to showcase its flagship product, WANDA, at the ISSA Conference in Las Vegas in November 2024. This year's conference theme, "Technology and Innovation," aligns perfectly with Visionstate’s mission to advance and integrate IoT solutions in the cleaning and facilities management sectors. Visionstate will have a booth at the conference with WANDA product demos.  

"We are extremely excited about attending the BEYOND CLEAN ISSA conference in Las Vegas," said Moore. "This event is an excellent opportunity for us to introduce WANDA to a global audience and connect with potential customers and distributors."

CEO’s Vision on AI and Communication

Visionstate Corp CEO John Putters addressed shareholders with updates on public company matters, including enhancements in communication strategies and the frequency of news releases and social media updates. He also provided insights into the company’s advancements in AI technology, emphasizing Visionstate’s commitment to harnessing AI for practical business applications and increased operational efficiency.

Acknowledgements

Visionstate Corp extends its gratitude to all shareholders for their continued support and participation in the AGM. The company remains dedicated to delivering innovative solutions and driving growth in the IoT sector.

For more information, please visit www.visionstate.com

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: @visionstate

Facebook: @visionstate

LinkedIn: Visionstate Corp

Instagram: corpvisionstate

 

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.

     

Forward-Looking Statements

 

Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or 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 or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.