Business
Visionstate Corp. portfolio company Freedom Cannabis completes acquisition
(TheNewswire) Acquisition to boost Freedom’s revenue and market share ...
About this update from Visionstate Corp.
[{"type":"text","content":"Visionstate Corp. portfolio company Freedom Cannabis completes acquisition\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Acquisition to boost Freedom’s\nrevenue and market share\n \n \n \n \n \n Edmonton, Alberta –\n \n \n \n \n TheNewswire -\n \n \n \n \n September 19, 2022 – Visionstate Corp.\n \n \n \n \n (TSXV:VIS)\n \n \n \n \n (OTC:VSSSF)\n \n \n \n (“Visionstate” or the “Company”)\n \n \n is pleased\n \n \n to announce\n \n \n that\n \n \n portfolio company Freedom Cannabis\nInc., a Canadian producer of premier cannabis products, has signed a\ndefinitive agreement to acquire the assets of Calgary-based Boaz\nPharmaceuticals Inc. (\n \n \n \n \n boazpharm.com\n \n \n \n \n ).\n \n \n \n \n The acquisition of Boaz is expected to double the\nrevenue for Freedom Cannabis as it expands its growing footprint.\nVisionstate is an early investor in Freedom Cannabis and owns\napproximately 3.2 million shares.\n \n \n \n \n With 126,000 square feet of cultivation and\nmanufacturing space, the Boaz assets are expected to double the\nproduction capacity of Freedom’s existing facility and provide\nentrance into cannabis 2.0 products. The Boaz assets consist primarily\nof 44 specially repurposed shipping containers equipped with new\ntechnologies to produce superior quality crops and higher yields. The\ncontainers provide opportunities for scalability and ease of\ninstallation and allow for expansion of new cannabis strains. Each\ncontainer is expected to hold approximately 850 cannabis plants and\nyield approximately 40,000 grams.\n \n \n \n \n Key Transaction Highlights:\n \n \n \n \n \n \n Expands production capacity:\n \n \n The containers are expected to double the\nproduction capacity of the existing facility.\n \n \n \n \n \n \n Lower production costs:\n \n \n The containers are outfitted with innovative technology which\nwill increase yields and lower operating costs to contribute to cost\nefficiencies.\n \n \n \n \n \n \n Enhances branded product:\n \n \n Boaz has a series of cannabis 2.0 products which\nwill be integrated and expanded upon to provide diversification in\nFreedom’s product offering to retail consumers. In addition, Boaz\nhas an extensive catalog of cannabis strains with the ability to\nsupply those strains to customers.\n \n...