Visionstate and ELi Technology Sign Strategic Collaboration Agreement to Advance Location-Aware Facility Management

Collaboration targets lower-cost deployments, expanded operational data and AI-driven facility management; Company also resets private placement timetable

Edmonton, Alberta--(Newsfile Corp. - October 27, 2026) - Visionstate Corp. (TSXV: VIS) ("Visionstate" or the "Company") is pleased to announce that it has entered into a Memorandum of Understanding ("MOU") with ELi Technology Inc. ("ELi") to explore the development and commercialization of technologies combining Visionstate's compliance platform with ELi's indoor location-intelligence capabilities.

The agreement establishes a framework for the companies to identify and pursue mutually beneficial technical, operational and commercial opportunities. ELi's technology utilizes existing Wi-Fi, Bluetooth Low Energy ("BLE") and related infrastructure to identify the location and movement of people, devices and assets within indoor environments.

"One of the challenges we consistently encounter when deploying technology into large facilities is the cost and complexity of hardware," said John Putters, CEO of Visionstate Corp. "ELi is particularly interesting because it has the ability to use infrastructure that is already in place while adding an entirely new layer of operational information around the location and movement of people, devices and assets."

"The opportunity goes well beyond a single proof of concept," Putters added. "Visionstate already has a portfolio of customers and distribution relationships across large, complex facilities where this technology could provide significant value. That gives us a direct path to introduce new capabilities into an established market rather than starting from scratch."

"ELi could also add an important new layer of structured operational data around location, movement, response times and asset utilization. That is particularly relevant to our AI and predictive analytics strategy because effective AI starts with high-quality data. Combining these new data streams with Visionstate's existing service, inspection and workflow data could help us identify patterns, improve resource allocation and ultimately predict operational requirements."

Under the MOU, Visionstate and ELi will evaluate how location intelligence can enhance Visionstate's facility-management solutions through applications including automated service verification, asset and equipment tracking, location-verified workflows and inspections, workflow automation, response-time measurement and real-time operational visibility. The companies will also quantify how ELi's ability to leverage existing Wi-Fi, BLE and other building infrastructure can lower deployment costs and support new commercial offerings through Visionstate's existing customer and distribution channels.

From a commercial perspective, the collaboration could give Visionstate more solutions to sell to both existing and new customers. The Company believes this creates opportunities to generate additional revenue from its established customer base, attract new customers and expand into new markets.

"We see a strong strategic fit between ELi's location-intelligence capabilities and Visionstate's experience in facility management, compliance and operational workflows," said Peter Woodford, CEO of ELi Technology Inc. "ELi adds the location layer — helping establish where people, assets and operational activities are occurring. When that information is combined with Visionstate's workflow and compliance data, it creates an opportunity to move from simply documenting what happened to understanding where and when it happened, identifying patterns and ultimately enabling more automated and predictive facility operations."

Initial Edmonton Proof of Concept

As the first project under the agreement, Visionstate and ELi intend to conduct a proof of concept at an Edmonton facility identified by Visionstate. The project will evaluate the technology in a live operating environment, with particular focus on location accuracy, the ability to leverage existing building infrastructure, deployment requirements and practical facility-management applications.

Following successful completion of the proof of concept, the companies will evaluate potential integration with Visionstate's facility-management platforms and broader commercial opportunities. Any material integration or commercial arrangement would be subject to a separate agreement between the companies.

"Canada has an exceptional ecosystem of innovative technology companies with specialized capabilities. We believe there is an opportunity for Visionstate to work with complementary companies like ELi to create stronger, more complete solutions and expand the markets we can address."

The collaboration will also evaluate scalable commercial models through which ELi's location intelligence could be offered as an integrated capability across Visionstate's existing and future customer deployments.

The MOU has an initial term of 12 months and is non-exclusive. Future commercial arrangements, including licensing, distribution, integration or joint go-to-market initiatives, would be subject to separate agreements between the parties.

Corporate Update - Private Placement

Visionstate also announces that it has cancelled the non-brokered private placement 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 Company is resetting the financing timetable to provide a fresh subscription period and coordinate completion of the offering. The new financing will commence with this announcement, subject to acceptance by the TSX Venture Exchange ("TSXV").

The new private placement will consist of up to 37,500,000 units ("Units") at a price of $0.02 per Unit, for maximum aggregate gross proceeds of $750,000. Each Unit will consist of one common share of the Company and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one additional common share at an exercise price of $0.05 for a period of 24 months following the applicable closing date.

There is no minimum offering amount. The financing may close in one or more tranches on a rolling basis, with closing dates to be determined, subject to TSXV approval and customary closing conditions. Securities issued under the financing will be subject to a statutory hold period of four months and one day from the applicable closing date. The Company may pay eligible finders a cash fee equal to 8% of the gross proceeds raised through their introductions, subject to applicable securities laws and TSXV approval.

The financing will be conducted pursuant to available exemptions from the prospectus requirements of applicable securities laws. Interested investors should contact the Company for subscription documentation and eligibility information. 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.

About ELi Technology Inc.
ELi Technology Inc. is a Nova Scotia-based SaaS location-technology company focused on delivering accurate indoor, outdoor and vertical location information for people, devices and assets. ELi's patented location technology is designed to leverage existing Wi-Fi, BLE and related infrastructure, enabling organizations to add location intelligence to existing applications and operational systems without requiring extensive new infrastructure. This provides verified dispatchable location information that can include building, floor and room-level positioning.

ELi subsequently expanded its technology into enterprise and private-network environments through its ATLS location service. ATLS is designed to integrate with existing crisis-communication and safety applications and provide actionable indoor location information displayed on digital floor plans for applications ranging from staff check-in and medical emergencies to security, lockdown and evacuation scenarios. For more information, visit eli-technology.com.

About Visionstate Corp.

Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Visionstate IoT Inc. is a wholly-owned subsidiary of Visionstate Corp. Through Visionstate IoT 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 centres, and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact, and transform consumer experiences.

Issued on behalf of the Board of Directors,
"John A. Putters"
Visionstate Corp.
To learn more, please contact:
Visionstate Corp.
John Putters, CEO
Email: [email protected]
Tel: 780-425-9460

Twitter: @visionstate
Facebook: @visionstate
LinkedIn: Visionstate Corp.

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

Forward-Looking Statements

Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

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