Freedom forms strategic alliance with US-based Artizen – Yahoo Finance

EDMONTON, AB, May 13, 2022 /CNW/ - Freedom Cannabis Inc., a Canadian producer of premier cannabis brands, is pleased to announce it has formed a strategic relationship with Pervasip Corp, and its wholly owned Seattle-based Zen Asset Management, owners of the Artizen brand (jointly referred to as "Artizen") to pursue mutually beneficial business opportunities.

The strategic relationship will see the two companies collaborate on areas of mutual benefit, including co-branding and sharing intellectual property. The two companies entered into the relationship after signing a non-binding Letter of Intent that forms the basis of the agreement.

"For Freedom Cannabis, this is a very important step forward," explained CEO, Johnfrank Potestio. "This provides our company with a very important foothold in the US market that can be developed even further as our two companies begin to collaborate."

The strategic relationship is beneficial to both companies as they build brand awareness in their respective markets. The cannabis companies are licensed producers and managers of premier brands and are quickly gaining market share in both Canada and the US.

The LOI also contemplates a potential joint venture between the two companies for Artizen's branded product to be grown at the Freedom facility located just outside of Edmonton, Alberta. This would include licensing of the Artizen brand in Canada and Freedom licensing its brand to Artizen in the US.

The two companies will also explore a potential merger in the future, depending on market conditions and regulatory approvals, that would significantly increase market share in North America. A potential merger would be dependent on due diligence by both parties, Freedom Cannabis pursuing a public offering in Canada, and legalization of cannabis at the federal level in the US.

While the LOI provides a path forward for Freedom to secure a foothold in the US market, the companies are focused on leveraging their synergies in the short term, including the sharing of intellectual property and co-branding of products.

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"We are very pleased to have formed a working relationship with Artizen," explained Potestio. "Artizen shares the same values as Freedom Cannabis and are dedicated to becoming one of the leading brands in North America. The LOI provides significant opportunity for Freedom Cannabis to access the large US market while continuing to build its brand in Canada."

"Freedom and its management team have an impressive foundation for growth, and we are pleased to enter into this relationship, maximizing each other's potential, especially at a time when we are expanding Artizen across the United States. Building on the recognition of Artizen being the 9th largest independent cannabis flower brand in the US, Freedom is the perfect strategic partner to both accelerate our growth and enter the Canadian market" said German Burtscher, Pervasip's President and Chief Executive Officer.

Pervasip Corporation

Pervasip Corp., a developer of companies and technologies in high value emerging markets, owns Artizen Corporation and its subsidiary, Zen Asset Management LLC, a diversified asset management company founded to acquire, develop, and support companies and technologies in the cannabis industry. ZAM's existing clients operate four licensed cannabis cultivation and one processing facility in Washington. Most of the biomass produced by these independent cultivators has been sold historically under the Artizen brand, including all-time top selling products in flower in Washington state. Additional information on Artizen-branded products is available online at http://www.artizencannabis.com. Pervasip additionally owns 5% of KRTL Biotech, Inc., a developer of biotechnologies with a focus on pharmaceutical applications of cannabinol and psilocybin. Additional information on KRTL is available online at http://www.krtlbiotech.com. Additional information on Pervasip can be found at http://www.pervasip.net.

Forward-Looking Statements

This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as may, would, could, will, likely, except, anticipate, believe, intend, plan, forecast, project, estimate, outlook, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the objectives and business plans of the Company; ability to realize benefits from its recent corporate appointments; ability to retain its key personnel; the intention to grow the Company's business and operations; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company. Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; and the Company's ability to secure financing on reasonable terms. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company's periodic disclosure statements.

Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.

SOURCE Freedom Cannabis Inc.

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View original content: http://www.newswire.ca/en/releases/archive/May2022/13/c9800.html

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Freedom forms strategic alliance with US-based Artizen - Yahoo Finance