Freedom Cannabis signs new deal to expand into extraction services

Freedom Cannabis signs new deal to expand into extraction services
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EDMONTON – Visionstate Corp. (TSXV: VIS) reported that Freedom Cannabis Inc., a portfolio company of Visionstate Corp., has entered into a non-binding Memorandum of Understanding with one of Canada’s leading extraction companies, Cannabis Tolling Solutions, to collaborate on strategic business opportunities, including establishing an extraction division of Freedom Cannabis Inc. and other partnership opportunities that leverage the respective strengths of the two companies.

CTS’s leading cannabis-extraction expertise and experience paired with Freedom’s vertically-integrated state-of-the-art cannabis production and sales capabilities will result in developing and operating top-tier extraction services within Freedom’s facilities.

“Freedom Cannabis Inc. is extremely proud of our cannabis products, highly-valued for their quality, strain popularity, and THC content. We have no doubt the addition of CTS 2.0 products will continue to achieve Freedom’s level of standards for quality and popularity,” said Gianfranco Potestio, Freedom’s CEO. “We are excited to explore this collaboration with CTS to deepen our vertical integration, broaden our product range into extract solutions, and create new revenue streams with experienced, innovative, and award-winning partners. We look forward to developing new, world-class extract products with the CTS team.”

Freedom Cannabis Inc. is a vertically-integrated cannabis company, employing more than 60 people, focused on producing the highest-quality cannabis. Freedom has cultivation, processing, and packaging capabilities for its proprietary cannabis products and contract services for third parties. Freedom operates in a state-of-the-art, 120,000 square foot indoor production facility in Acheson, Alberta. Freedom believes in environmental sustainability and has built Canada’s largest solar rooftop facility, reducing impact on the electrical grid. In addition, Freedom utilizes an automated watering system that recycles water, provides better water management, and minimizes impact on the area’s utilities. Finally, Freedom implements automation in every production area to reduce the workload for its people and allow the company to do more for its consumers.

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.

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