Edmonton, Alberta - December 12, 2023 – Visionstate Corp. (TSXV:VIS) (“Visionstate” or the “Company”), a leader in innovative facility management solutions, is pleased to announce 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 Ongoing Threats
Visionstate IoT Inc. continues to set the industry pace by rapidly deploying its state-of-the-art WANDA™ technology in the facility management sector. WANDA™ has proven to be an invaluable tool in validating key cleaning protocols, crucial in the face of ongoing threats posed by viruses and diseases in society.
Strategic Collaborations with Leading Canadian Universities
Visionstate IoT is proud to share its ongoing 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 U.S.
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 Time of Flight (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 Corp. 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 Corp. is pleased to announce the addition of a new shopping center location in Calgary, Alberta, 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 Corp. recently concluded its Annual General Meeting on December 5, 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 Corp. 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 Corp. (TSXV: 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. Visionstate IoT Inc. is a wholly-owned division of Visionstate Corp. Through Visionstate IoT 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”
To learn more, please contact:
Visionstate IoT Inc.
Shannon Moore, President
CHF Capital Markets
Tel: 416-868-1079 x 234
LinkedIn: Visionstate Corp.
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