Mr. John Putters reports

VISIONSTATE CORP. ACHIEVES UNPRECEDENTED INSTALLATION PACE OF WANDA TECHNOLOGY IN FACILITY MANAGEMENT SECTOR

Visionstate Corp. has provided a significant business update highlighting the remarkable success of its main operating division, Visionstate IoT Inc., and its groundbreaking Wanda technology.

Wanda technology validation amidst continuing threats

Visionstate IoT continues to set the industry pace by rapidly deploying its state-of-the-art Wanda technology in the facility management sector. Wanda has proved to be an invaluable tool in validating key cleaning protocols, crucial in the face of continuing threats posed by viruses and diseases in society.

Strategic collaborations with leading Canadian universities

Visionstate IoT is proud to share its continuing collaboration with two leading Canadian universities on large-scale installations. These projects involve tracking thousands of areas within campus premises to ensure a safe and hygienic environment for students and staff. These collaborations not only emphasize Visionstate's commitment to safety but also significantly contribute to the company's recurring revenue stream, driven by its software-as-a-service (SaaS) business model.

Expansion of Wanda footprint in the United States

The company's substantial U.S.-based customer has demonstrated confidence in Wanda's capabilities by doubling the size of its existing installation base. This expansion not only reflects the effectiveness of Wanda but also signifies the continued trust and satisfaction of Visionstate's clients in the United States.

New revenue stream -- introduction of time-of-flight (ToF) people counters

In response to evolving market demands, Visionstate IoT has successfully introduced ToF people counters. These innovative counters not only enhance data accuracy but also represent a new revenue stream for the company. Rolled out to universities and colleges, the ToF people counters provide valuable insights into traffic counts, contributing to enhanced efficiency in facility management.

International expansion -- launching Wanda in London, England

Visionstate is actively pursuing an international opportunity at the head office of a global firm in London, England. This installation represents a full application of all Wanda's features and is poised to be a launch point for additional growth in the European market. Visionstate's entry into the European market aligns with its strategic vision for global expansion and diversification.

New opportunities and diversification

Visionstate has added a new shopping centre location in Calgary, Alta., further expanding its portfolio of properties. This strategic move reflects the company's commitment to growth and diversification in key markets.

"I am very pleased with the rapid adoption of our technology in the facility management sector. The pace at which Wanda and our new time-of-flight people counters are being embraced underscores the industry's recognition of our commitment to innovation and excellence," said Visionstate IoT president Shannon Moore. "As we approach the end of the year, I am optimistic about the prosperous new year ahead and the continued impact our solutions will have on creating safer, more efficient environments. The international opportunity in London, England, represents a significant milestone for Visionstate, opening doors for continued growth and success on a global scale."

Board of directors re-election at annual general meeting

Visionstate recently concluded its annual general meeting on Dec. 5, 2023, reaffirming its commitment to corporate governance. The following directors were re-elected to the board:

• John Putters;
• Belinda Davidson;
• Jim Duke.

Their continued leadership ensures stability and strategic guidance for the company as it navigates a dynamic and growing market. Visionstate remains at the forefront of innovation in the facility management sector, driving advancements in technology that promote safety, efficiency and sustainability.

About Visionstate Corp.

Visionstate 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.

Visionstate IoT is a wholly owned division of Visionstate.

Through Visionstate IoT, 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 centres and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate will continue to innovate, reduce environmental impact and transform consumer experiences.

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