Key Highlights
- Visionstate Corp. signed a 12-month, non-exclusive MOU with ELi Technology to explore joint products.
- The companies plan an Edmonton proof of concept using Wi-Fi and Bluetooth to add indoor location data.
- Visionstate cancelled its August private placement and launched a new one targeting up to $750,000.
Visionstate Corp. (TSXV: VIS) has entered into a memorandum of understanding (MOU) with ELi Technology Inc. to explore developing and commercializing technology that combines Visionstate’s compliance platform with ELi’s indoor location-intelligence capabilities.
The companies plan to evaluate whether ELi’s approach—which uses existing Wi-Fi, Bluetooth Low Energy (BLE) and related infrastructure to identify the location and movement of people, devices and assets indoors—can enhance Visionstate’s facility-management tools and potentially lower deployment costs.
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Edmonton proof of concept and potential integration
As an initial project under the MOU, Visionstate and ELi intend to run a proof of concept at an Edmonton facility identified by Visionstate. The companies expect to test the technology in a live operating environment, focusing on location accuracy, the ability to use existing building infrastructure, deployment requirements and practical facility-management applications.
Visionstate Chief Executive Officer John Putters said, “One of the challenges we consistently encounter when deploying technology into large facilities is the cost and complexity of hardware.”
Following a successful proof of concept, the companies plan to evaluate potential integration with Visionstate’s facility-management platforms and broader commercial opportunities. Visionstate noted that any material integration or commercial arrangement would be subject to a separate agreement.
The MOU has an initial term of 12 months and is non-exclusive. Visionstate said any future commercial arrangements—including licensing, distribution, integration or joint go-to-market initiatives—would require separate agreements between the parties.
Private placement reset
Visionstate also announced it has cancelled the non-brokered private placement it announced on August 25, 2026, and intends to proceed with a new non-brokered private placement on the same unit pricing and warrant terms for gross proceeds of up to $750,000. The release did not specify the currency for the $ amounts.
The offering is expected to consist of up to 37,500,000 units at $0.02 per unit. Each unit is to include one common share and one common share purchase warrant, with each warrant exercisable at $0.05 per share for 24 months after the applicable closing date.
There is no minimum offering amount. The financing may close in one or more tranches, with closing dates to be determined, subject to acceptance by the TSX Venture Exchange and customary closing conditions. Visionstate said securities issued will be subject to a hold period of four months and one day from the applicable closing date, and eligible finders may receive a cash fee equal to 8% of gross proceeds raised through their introductions, subject to securities laws and TSXV approval.
Visionstate said net proceeds are intended to support expansion into new markets, international distribution relationships and strategic business development, including opportunities involving complementary technologies and artificial intelligence.
The original press release is available on stockhouse.com
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