Pervasip Corp. announced that it has formed a strategic relationship with Freedom Cannabis 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. 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 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.