Freedom will only sell two compatible LTE phones at first, but they're at least solid choices: the LG V20 and ZTE's Grand X 4. Unlocked phones should function when they support the network's AWS-3 frequency range, although you're unlikely to find one right now. Sorry, that iPhone 7 or Pixel won't cut it. You'll likely have to wait a few months before more flagship-class smartphones take advantage of the speedier service.
You won't have to worry about traveling, at least. All of the greater Toronto and Vancouver areas will have native coverage by spring 2017, and LTE roaming in both Canada and the US will be ready early in the new year. Calgary, Edmonton and Ottawa will have LTE by the summer, and the carrier's remaining 3G areas (largely in southern Ontario) will get the upgrade by the fall.
The reinvigorated company still faces an uphill battle when the incumbents have LTE networks that blanket the country, not to mention frequencies that virtually guarantee support for most devices. However, the absence of LTE will no longer hold it back. Once Freedom has finished its rollout, your choice of carrier will mostly come down to local coverage and device selection -- and that's good news for Canadians wishing they had as many nationwide choices as their American counterparts.