Visionstate Corp. announced a private placement of 15,000,000 units at a price of CAD 0.02 per unit for gross proceeds of up to CAD 300,000 on March 13, 2023. Each unit is comprised of one common share and one common share purchase warrant whereby each warrant entitles the holder to purchase one additional common share at a price of CAD 0.05 per common share for a period of two years following the date of closing.

The securities issued in the private placement will be subject to a hold period of four months and one day from the date of issuance. The private placement is expected to close on April 14, 2023. The transaction is subject to regulatory approval.