EDMONTON, Alberta, June 24, 2022 (GLOBE NEWSWIRE) — Visionstate Corp. (TSXV: VIS) (“Visionstate” or the “Corporation”) is pleased to announce that, subject to regulatory approval, the Corporation intends to complete an offering (“Offering”) of up to 12,500,000 common shares of the Corporation (“Common Share”) at a price of $0.04 per Common Share for gross proceeds of up to $500,000.
The Offering includes one full warrant at $0.05 for every Common Share purchased, with an expiry date 24 months after the closing of the private placement. The price per Common Share has been set at the last trading price on the TSX Venture Exchange before the issuance of this press release.
The net proceeds from the sale of units will be used by the Corporation for marketing and sales initiatives, research and development to enhance the Company’s technology, operating capital and investigating a US quotation on the OTCQB.
In connection with the Offering, Visionstate will be relying on the existing security holders’ exemption as well as other available prospectus exemptions. For those investors relying upon the exemption for existing security holders, the aggregate acquisition cost to a subscribing shareholder of all securities of Visionstate cannot exceed $15,000 in the previous 12 months, unless that shareholder has obtained advice regarding the suitability of the investment from a registered investment dealer in the subscriber’s jurisdiction. The offer to purchase Common Shares is available to all security holders of Visionstate who held common shares on the record date of December 31, 2021. Shareholders resident in Ontario, Newfoundland and Labrador, and countries other than Canada will need to meet local jurisdiction requirements to participate. If Visionstate receives total subscriptions pursuant to the existing security holders’ exemption which causes the Offering to exceed $500,000, Visionstate will accept…
All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator
Read more from original source here…