Visionstate Corp. Announces Final TSXV Approval for Chatbot Acquisition
Visionstate Corp. announced that it has received final TSX Venture Exchange approval for the expedited acquisition of Montreal-based Chatbot Incubator. Pursuant to the terms of the Transaction, Visionstate has purchased 30% of the shares held by Chatbot shareholders in exchange for 4,000,000 common shares of Visionstate at a deemed price of $0.065 per common share, for the consideration of $260,000.
Visionstate will have the option to acquire the remaining 70% of the shares held by current Chatbot shareholders in exchange for a further 9,000,000 common shares of Visionstate, also at a deemed price of $0.065 per share, for further consideration of $585,000. The total acquisition price will be $845,000 in the event Visionstate exercises its option, which will expire 180 days after the closing of the initial 30% purchase.
Chatbot Incubator designs and develops custom chatbots, which are programs that use Artificial Intelligence (AI) to facilitate conversations between brands and their customers. Chatbot Incubator’s technology is deployed on the messaging platforms that customers use most: mobile text and Facebook messenger, making them easier to access and available to customers whenever and wherever needed. These chatbots can be customized to include photos, video, games, group chats, digital offers and ecommerce functionality.