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Visionstate Portfolio Company Freedom Cannabis Inc. Signs a New Deal

Updated: Jun 1

Edmonton, Alberta, May 18, 2021 - Visionstate Corp. (TSX-V: VIS) (“Visionstate” or the “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.


CAUTIONARY STATEMENT


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