Business
Visionstate Announces Financing to Enhance Product Development and Marketing
(TheNewswire) Edmonton, Alberta – TheNewswire - September 12...
About this update from Visionstate Corp.
[{"type":"text","content":"Visionstate Announces Financing to Enhance Product Development and Marketing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Edmonton, Alberta –\n \n \n \n \n TheNewswire -\n \n \n \n \n September 12, 2022 –\n \n \n \n \n Visionstate Corp.\n \n \n \n \n (TSXV:VIS)\n \n \n \n (“Visionstate”\nor the “Company”)\n \n \n is pleased\n \n \n to announce\n \n \n that\n \n \n ,\nsubject to regulatory approval, the Corporation intends to complete an\noffering (\"Offering\") of up to 17,500,000 units of the\nCorporation (“Units”) at a price of $0.02 per Unit for gross\nproceeds of up to $350,000.\n \n \n Each Unit is\ncomprised of one (1) common share of Visionstate (“Common Share”)\nand one (1) Common Share purchase warrant (“Warrant”) whereby each\nWarrant entitles the holder to purchase one (1) additional Common\nShare at a price of $0.05 per Common Share for a period of two (2)\nyears following the date of closing.\n \n \n \n \n The price per Common Share has been set at the last\ntrading price on the TSX Venture Exchange before the issuance of this\npress release.\n \n \n \n \n The net proceeds from the sale of Units will be used by\nthe Corporation for marketing and sales initiatives, research and\ndevelopment to enhance the Company’s technology, general operating\ncapital and investigating a quotation on the U.S. OTCQB.\n \n \n \n \n In connection with the Offering, Visionstate will be\nrelying on the existing security holders’ exemption as well as other\navailable prospectus exemptions. For those investors relying upon the\nexemption for existing security holders, the\n \n \n aggregate acquisition cost to a subscribing shareholder of\nall securities of Visionstate cannot exceed $15,000 in the previous 12\nmonths, unless that shareholder has obtained advice regarding the\nsuitability of the investment from a registered investment dealer in\nthe subscriber’s jurisdiction.  The offer to purchase Units is\navailable to all security holders of Visionstate who held common\nshares on the record date of September 11, 2022.  Shareholders\nresident in countries other than Canada need to meet local\njurisdiction requirements to participate.  If Visionstate receives\ntotal subscriptions pursuant to ...