Flower One, Owner of the Largest Greenhouse in Nevada, Receives Recreational Cannabis Licenses and Approval to List on the Canadian Securities Exchange (CSE)
Flower One Holdings Inc. (“Flower One” or the “Company”) is pleased to announce that it has received its recreational marijuana cultivation license and its recreational marijuana production license from the State of Nevada. Receiving both licenses is a crucial step in the Company’s plan to cultivate premium grade cannabis at scale for Nevada’s growing cannabis market, using its 400,000 square foot greenhouse and 55,000 square foot production facility, and leveraging the industry’s leading agricultural technologies, innovative growing methods and top sustainability practices.
“We are sharply focused on quickly becoming the leading cannabis cultivator and producer in the state of Nevada,” said Ken Villazor, President and CEO of Flower One. “This regulatory milestone now paves the way for Flower One to work towards its targeted annual capacity of 140,000 pounds of dry flower and trim to help meet the growing demand of the Las Vegas and broader Nevada cannabis market.”
In addition, the Company is pleased to announce it has received approval from the Canadian Securities Exchange (“CSE”) for listing its common shares. The Company’s shares will commence trading on the CSE on Wednesday, October 10, 2018 under the symbol “FONE”.
When the Company commences trading, there will be 172,192,279 issued and outstanding common shares in the capital of the Company (the “Common Shares”), no warrants and 7,915,000 outstanding options convertible into the same number of common shares within the Company’s capital structure. As required by the CSE, certain shareholders collectively holding 97,719,900 Common Shares, being 56.8% of the total issued and outstanding Common Shares, have entered into a pooling agreement dated October 4, 2018 with Odyssey Trust Company, as escrow agent, and the Company, pursuant to which 25% of such shares will be released to the corresponding shareholders and be free-trading as of the commencement of trading, with an additional 25% being released every six months thereafter. Further, all of the Company’s directors and officers and those shareholders holding greater than 5% of the issued outstanding shares have agreed to a six-month escrow for their securities with Eight Capital pursuant to the terms of the Agency Agreement dated September 19, 2018. This represents 3,200,000 outstanding options and 77,247,316 Common Shares of the Company (76,375,000 of which are also subject to the CSE described above). In total, 98,592,216 Common shares, representing 57.3% of the issued and outstanding Common shares of the Company are subject to some form escrow.
About Flower One Holdings Inc. (CSE:FONE)
Home to the largest commercial scale greenhouse in the State of Nevada, Flower One aims to leverage the industry’s leading agricultural technologies, utilizing innovative growing and sustainability practices to cultivate high-quality cannabis at scale for Nevada’s growing cannabis market. The Company is licensed for medical marijuana cultivation and production, and recreational marijuana cultivation and production in the state of Nevada. Once canopied, targeted Q1 2019, the 455,000 square foot facility will be used for cannabis cultivation as well as the processing, production and high-volume packaging of dry flower, cannabis oils, concentrates and infused products.
Sustainably-cultivated cannabis at scale to meet Nevada’s growing demand, Flower One is ready to grow for you.
Informational Purposes Only
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Flower One’s securities to, or for the account or benefit of, persons in any jurisdiction.
Cautionary Note regarding Forward Looking Information
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Flower One’s public documents. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward- looking statements.
Forward-looking statements may include, without limitation, statements relating to the execution of the Company’s strategy, new opportunities, future growth, potential capabilities (including targeted annual production capacity and the expected timing of planting) of the cultivation and processing facility in Nevada, potential partnering opportunities with cannabis consumer brands, profitability of the cannabis market in the United States, as well as the intended listing of securities on the CSE and other statements.
Although Flower One has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects that are engaged in activities currently considered illegal under US federal law; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Flower One Holdings disclaims any intention or obligationto update or revise such information, except as required by applicable law.
SOURCE Flower One Holdings Inc.
For further information: Investor Relations & Media, NATIONAL Equicom, 416.848.9835, firstname.lastname@example.org; Flower One Holdings Inc., Ken Villazor, President and CEO, 416.913.9642, email@example.com
CanBud Distribution Corporation Closes 2M Second and Final Tranche of its Oversubscribed Private Placement Offering
CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“CanBud” or the “Corporation”) is pleased to announce that it has closed the final tranche of its oversubscribed non-brokered private placement for aggregate gross proceeds of approximately $4,730,000 (the “Offering”).
The Corporation issued a combined total of 39,409,346 units (each a “Unit“) at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.
Thoughtful Brands Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands) announces that the letter of intent with Franchise Cannabis Corp. (“FCC”), previously announced in January, has been terminated. The previously announced European joint venture with FCC will continue and allow the Company to launch and tailor its products to European consumer demands
In connection with termination of the merger transaction with FCC, the Company has agreed to pay FCC $100,000 in cash and to issue FCC 5,000,000 common shares of the Company at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value
Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands”) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction”).
Seattle Area Grocery Chain Metropolitan Market to Begin Carrying KOIOS and Fit Soda on March 22, 2021
Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.
Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.