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Licence for 2.0 products expands Freedom’s product offering, and revenues
Edmonton, AB - TheNewswire - January 16, 2023 - Freedom Cannabis Inc. (the “Company”) is pleased to announce that it has been granted a Cannabis 2.0 licence from Health Canada. The licence will enable Freedom to produce and sell a variety of cannabis extracts including, but not limited to, vape cartridges, edibles and topicals.
Cannabis extracts offer a range of benefits for consumers, including more precise dosing and the ability to chose from a variety of consumption methods. The Company is excited to be at the forefront of this industry and looks forward to bringing more innovative products to market.
“We are thrilled to be able to offer our customers a wide range of products,” explained Freedom Cannabis CEO Johnfrank Potestio. “This licence is a testament to our commitment to quality and compliance. We are looking forward to seeing what the future holds for our company in the Cannabis 2.0 market.”
This license will give Freedom the ability to sell all cannabis products. Previously the Company could only sell dried cannabis and process cannabis for other licence holders. With this new licence Freedom can sell all cannabis 2.0 products into the adult use/recreation or medical market; including extracts, vape pens, infused pre rolls or products, edibles, topical, and beverages. This will allow Freedom to launch new products and appeal to other consumer markets.
The market for Cannabis 2.0 products is expected to be a significant contributor to the overall growth of the cannabis industry in Canada. These products offer consumers a wider range of options and offer more discreet consumption methods which is expected to increase the appeal of cannabis to a broader range of consumers.
The legal market for cannabis 2.0 products was launched on October 17, 2019. Since then the market has seen a steady growth as these products become more widely available across the country and more consumers become familiar with them.
Freedom Cannabis is a leading player in the Canadian cannabis industry, with a reputation for producing high quality products and a strong focus on sustainability. The Company looks forward to continuing to meet the needs of its customers and to help drive growth of the Canadian cannabis industry.
About Freedom Cannabis
Freedom Cannabis Inc. is a vertically integrated cannabis company, employing more than 60 phenomenal people, focused on producing the highest-quality cannabis. Freedom has cultivation, processing, extraction, research, 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. Freedom Reserve products are known for their superior quality and potency above 30% THC. Freedom’s gardening processes and genetics produce an annual average THC% above 28%. We Grow People, producing amazing cannabis, enriching lives.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
On behalf of the Board of Directors
For more information please contact:
Freedom Cannabis Inc.
Johnfrank Potestio, CEO
Email: johnfrankpotestio@freedomcannabis.ca
Cell: 780-498-1960
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