Visionstate portfolio companies soar; Freedom Cannabis

EDMONTON, Alta., Feb. 11 2022 (GLOBE NEWSWIRE) — Visionstate Corp. (TSXV:VIS) (“Visionstate” or the “Company”) is pleased to announce that its holding company, Freedom Cannabis Inc. (“Freedom”), has entered into a joint venture to expand its various revenue streams to include the services of extraction.

Known as Cannabis Tolling Solutions (CTS), the joint venture is the next step in Freedom’s vertically integrated business model which includes cannabis production, retail, packaging and now extraction services for the market. growing vape.

“We are excited to collaborate with CTS to deepen our vertical integration, expand our product line to extraction solutions, and create exciting new revenue streams with experienced, innovative and award-winning partners,” said John Frank Potestio, CEO of Freedom Cannabis Inc.

According to Grand View Research Inc., the value of the global extracts market is expected to reach US$27 billion by 2027 due to increase in consumer demand and application of the product in medical research.

Leading the new joint venture is Andrew Freedman, a well-known author and cannabis expert with over a decade of experience in the cannabis industry. Mr. Freedman has written extensively for leading international publications and is known as a “cannabis sommelier” for his unique focus on pairing cannabis, beer, cocktails, wine and fine dining. He also manages several social media channels and hosts a podcast called “Beers with Buds”.

The addition of extraction services expands Freedom Cannabis’ revenue streams as it positions itself as a vertically integrated cannabis producer. The company recently recorded sales of over $1 million for the month of January and is experiencing significant retail sales growth in major markets across Canada. Month-over-month sales have increased steadily over the past quarter, with December 2021 sales being 45% higher than the previous month.

“Vertically integrated cannabis producers are becoming leaders in this industry,” said Visionstate CEO John Putters. “With diverse revenue streams serving several different market sectors, these companies are showing that they can be sustainable and show significant revenue growth.”

Visionstate Corp. is a Freedom Cannabis investor and partner. The company owns four million shares of the private company and is working with Freedom to install Internet of Things (IoT) technology to monitor growing conditions to maximize returns.

About Visionstate Corp.

Visionstate Corp. (TSXV: VIS) is a growth-oriented company that invests in the research and development of promising new technologies in the areas of Internet of Things, big data and analytics, and sustainability. Through Visionstate Inc., it helps businesses improve operational efficiency, reduce costs, and increase customer satisfaction with its industry-leading devices that track and monitor customer activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping malls and other public facilities across and beyond North America. By building a set 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.

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

Forward-looking statements

Certain information contained herein 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, but not limited to, statements regarding future financial condition, business strategy, product use, corporate vision, proposed acquisitions, partnerships, joint ventures and strategic alliances and cooperations, budgets, costs and plans and objectives of or involving the Company. This 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 planned”, “budget”, “expected”, “estimates”, “forecasts”. “, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of these words and phrases or may be identified by statements that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be performed. A number of known and unknown risks, uncertainties and other factors could cause actual results or performance to differ materially 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, some of which are beyond the Company’s control, including, but not limited to, the impact of general economic conditions, industry conditions and dependence on regulatory approvals. Readers are cautioned that the assumptions used in the preparation of this information, while believed to be reasonable at the time of preparation, may prove to be imprecise and, accordingly, undue reliance should not be placed on any forward-looking statements. The Company undertakes no 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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