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Visionstate Corp (2)
Symbol VIS
Shares Issued 86,780,601
Close 2021-04-15 C$ 0.12
Market Cap C$ 10,413,672
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ORIGINAL: Visionstate Creates Vertical to Develop IoT Solutions within Cannabis Sector; Signs $500,000 Contract for Development

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

EDMONTON, Alberta, April 15, 2021 (GLOBE NEWSWIRE) -- Visionstate Corp. (TSX-V: VIS) (“Visionstate” or “the Company”) is pleased to announce it has created a new corporate entity named NEXT Vision Inc., a wholly owned division of Visionstate Corp., to develop Internet of Things (“IoT”) technology for the cannabis sector. By incorporating the Company’s solid knowhow 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 Inc. will leverage off the IoT platform for the facilities management sector to create new industry sectors.

Visionstate CEO John Putters explains, “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 overall. We are focussing our technology on bringing about those positive results.”

Recently the cannabis sector has experienced a resurgence of activity as speculation mounts that the US will likely legalize or decriminalize cannabis at a federal level. Meanwhile, the cannabis sector has proven 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 Inc. 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 licenced 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 Corp. (TSX-V: VIS) 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 Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.

Issued on behalf of the Board of Directors
“John A. Putters”
Visionstate Corp.

To learn more, please contact:
Visionstate Corp.CHF Capital MarketsWebsite: www.visionstate.com
John Putters, CEOCathy HumeTwitter: @visionstate
(780) 425-9460(416) 868-1079 x 251Facebook: @visionstate
jputters@visionstate.comcathy@chfir.comLinkedIn: @VisionstateCorp.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press 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.

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