Visionstate Corp. Re-Election of Board and Stock Consolidation Update

EDMONTON, Alberta, March 12, 2018 (GLOBE NEWSWIRE) -- Visionstate™ Corp. (TSX VENTURE:VIS) ("Visionstate" or the "Company") held its annual general meeting on Friday, March 2, 2018 at the Visionstate Corp. office located in Edmonton, Alberta.

During the meeting, Shareholders of the corporation voted to re-elect the Board of Directors and approved the Company’s stock option plan. They also voted on and passed an option to consolidate shares. After thoughtful consideration and discussion, the board of directors later decided that the share consolidation option would not be exercised at this time. This unanimous decision was based on the strength of current business development and sales along with the addition of new strategic business investments which will provide an immediate opportunity to augment the existing WANDA™ and CINDI™ technology platforms.

“Given that Visionstate’s IoT platform, WANDA, is quickly gaining traction in the marketplace and is supported by global partners and clients, we determined that a share consolidation would not be in the best interest to shareholders at this time,” said Visionstate CEO John Putters.

In February 2018 Visionstate announced a strategic partnership with a global logistics company, Bunzl Distribution, in order to increase market share, sales, marketing presence and improve rapid distribution of the WANDA product. An update was presented on progress surrounding training the Bunzl sales force on this technology. John Putters worked alongside Bunzl Sales leadership in implementing cross-Canada and UK training, which concluded in late February. Positive feedback from the front-line sales force and the executive team was extremely positive, and they are fully equipped and trained to position and sell WANDA at this time.

Also announced during the AGM were two new pilot projects that will introduce WANDA with its integrated sensors to people count for increased data analytics to a large U.S. based health-care provider and a county-wide school district in the U.S., both which have great potential to expand their footprint in both facilities and buildings.

About Visionstate Corp.

Visionstate Corp (TSX VENTURE:VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of sustainability, analytics and the Internet of Everything. Visionstate provides investors access to holdings in disruptive technologies that include artificial intelligence (AI), blockchain platforms and cryptocurrency. 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 centers and other public facilities across North America. An extension of that product, CINDI™, has the potential to transform the guest service experience in the hotel industry. With the recent acquisition of Chatbot Incubator, specializing in applications for artificial intelligence, development is underway to make CINDI™ into a personal concierge, offering personalized services in every guest room. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.

For more information please visit www.visionstate.com and follow @Visionstate on Twitter and Facebook.

Visionstate is listed on the TSX-V exchange under the ticker symbol "VIS”; additional investor information is available on SEDAR.


Forward Looking Statements

This news release may include certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with Visionstate’s business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect Visionstate’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Visionstate assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

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

For more information about Visionstate, please contact John Putters at (780) 425-9460 or jputters@visionstate.com.

Source: Visionstate Corp.