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Visionstate Portfolio Company Freedom Cannabis Inc. Signs a New Deal to Expand into Extraction Services

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EDMONTON, Alberta, May 18, 2021 (GLOBE NEWSWIRE) -- Visionstate Corp. (TSXV: VIS) (“Visionstate” or “Company”) is pleased to announce that Freedom Cannabis Inc. (“Freedom”), 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 (“CTS”), 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.”

About CTS

CTS is a privately-held, world-class extraction group with industry accolades and international awards for its top-shelf extracts products in the legal market, gray market, and cannabis events. In addition to being one of the most knowledgeable, dynamic, and well-connected cannabis consultants in Canada, with a long history in all facets of the cannabis industry, CTS CEO Andrew Freedman is a well-known author, personality, and cannabis sommelier (https://thecannabissomm.com). He has written for and been featured in many international publications, including High Times, The Globe and Mail, The Hollywood Reporter, LA Weekly, and many more. Andrew’s book “Terpenes for Wellbeing” was published in April 2021 and is currently on the Amazon bestseller list. One of the first people certified in Cannabis Edibles & Cuisine by the American Culinary Federation, Andrew writes, hosts events, and teaches seminars on cannabis and wine pairing, cannabis cocktails, and cannabis dining. He also leads several social media channels and hosts a podcast “Beers with Buds”.

About Freedom Cannabis

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.

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. Through Visionstate 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.

CHF Capital Markets

Website: www.visionstate.com

John Putters, CEO

Perry Rapagna

Twitter: @visionstate

(780) 425-9460

(416) 868-1079 x 230

Facebook: @visionstate

jputters@visionstate.com

perry@chfir.com

LinkedIn:@VisionstateCorp.


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