Business
Visionstate's Announces Updated Financing
(TheNewswire) Edmonton, Alberta – TheNewswire - November 9, ...
About this update from Visionstate Corp.
[{"type":"text","content":"Visionstate's Announces Updated Financing\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 November\n9, 2022 –\n \n \n \n \n Visionstate Corp.\n \n \n \n \n (TSXV:VIS)\n \n \n \n (“Visionstate”\nor the “Corporation”)\n \n \n is pleased\n \n \n to announce\n \n \n that\n \n \n , subject to regulatory approval,\nthe Corporation intends to complete an offering (\"Offering\")\nof up to\n \n \n 17,500,000 units of the Corporation\n(“Units”) at a price of $0.02 per Unit for gross proceeds of up to\n$350,000.  Each Unit is comprised of one (1) common share of the\nCorporation (“Common Share”) and one full  Common Share purchase\nwarrant (“Warrant”) at a price of $0.05 for every Common Share\npurchased, with an expiry date 24 months after the closing of the\nprivate placement. 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 Corporation’s technology, operating\ncapital and investigating a US quotation on the OTCQB.\n \n \n \n \n The private placement replaces the financing announced\non September 9, 2022, which was priced at 0.02 cents per share for\ntotal proceeds of $350,000.\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 Common Shares\nis available to all security holders of Visionstate who held common\nshares on the record date of October 31, 2022. Shareholders resident\nin Ontario, Newfoundland and Labrador, and countries other than Canada\nwill need...