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Visionstate Corp (2)
Symbol VIS
Shares Issued 86,780,601
Close 2021-04-15 C$ 0.12
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Visionstate creates Next Vision for cannabis IoT tech

2021-04-15 11:38 ET - News Release

Mr. John Putters reports

VISIONSTATE CREATES VERTICAL TO DEVELOP IOT SOLUTIONS WITHIN CANNABIS SECTOR; SIGNS $500,000 CONTRACT FOR DEVELOPMENT

Visionstate Corp. has created a new corporate entity named Next Vision Inc., a wholly owned division of Visionstate, to develop Internet of things (IoT) technology for the cannabis sector. By incorporating the company's solid know-how from years developing, executing and selling software solutions for any kind of facility, Visionstate identified a need in facilities that grow and harvest cannabis and, to that end, has landed a $500,000 contract.

Next Vision will leverage off the IoT platform for the facilities management sector to create new industry sectors.

Visionstate chief executive officer John Putters explained: "There is no question that IoT technology is increasingly becoming critical to a corporation's operations. Whether it's analytics, predictive maintenance or introducing new efficiencies in operations, IoT has demonstrated returns on investment. For licenced producers, the higher the crop's quality, coupled with cost-effective solutions, the better it is for the producer over all. We are focusing our technology on bringing about those positive results."

Recently, the cannabis sector has experienced a resurgence of activity as speculation mounts that the United States will likely legalize or decriminalize cannabis at a federal level. Meanwhile, the cannabis sector has proved to be immune from the effects of COVID-19, witnessing increased sales and revenues despite the lockdowns that have occurred across Canada.

The inaugural contract provides Next Vision the ability to develop a tailored IoT solution for the cannabis sector. It includes introducing new sensor equipment, designing communication protocols between sensors, and developing robust data and analytics that provide insight into the efficiency of operations. Monitoring processes and equipment within larger licensed producers will include lighting, heat and other environmental conditions as well as standard procedures that are required to be met by the producers.

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. Through Visionstate Inc., 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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