Mr. Brayden Sutton, President and CEO of Friday Night Inc. (the “Company”) (CSE:TGIF) (FRANKFURT:1QF), is pleased to provide an update on the progress of the company’s 91% owned asset, Alternative Medicine Association, LC.

  • On July 17th, AMA received it’s cultivation and production license for recreational sales from the State Department of Taxation
  • On July 18th, AMA entered into a distribution agreement with Blackbird Logistics, one of the state’s 2 cannabis distributors
  • By July 19th the company had excessive back orders of recreational products waiting to go out to retailers
  • AMA is currently in the process of finalizing a contract with a premium chocolate line to manufacture roughly $12,000 USD of bulk distillate every week
  • AMA is currently extracting over 400lbs of dried cannabis to fill disposable vape cartridges for a well-known hip-hop artist
  • The Vader collaboration is working exceptionally well with their high-end extracts produced by AMA being in high-demand.  The company expects this one partnership to yield in excess of $30,000 USD per month on a go-forward
  • AMA continues to receive lab results indicating that several of their popular strains of flower are consistently testing at levels above 30% THC
  • Friday Night Inc. is also pleased to announce that the Company’s OTC ticker is now trading and the Company will advise when it (OTC: VPGDF) becomes DTC eligible

This represented a monumental week for AMA, as the Company has now finalized all licensing for recreational cultivation and production and is currently re-calculating it’s annual projections and how it can best fill those increased needs.  The Company is very pleased to have already signed a Distribution Agreement with Blackbird Logistics Corp., one of two fully licensed cannabis transport companies in Nevada.
Ben Horner, Operations Manager of AMA stated, “With the increased demand and the current dispute between the State of Nevada and the Independent Alcohol Distributors, Blackbird is one of only two available options for transporting recreational cannabis. We have signed an exclusive transport agreement, which will allow us to now meet the backlog of demand for recreational products our customers are seeking.  Our first Recreational deliveries will begin this weekend and we are very pleased to be one of the very first to contract for recreational delivery services.”
 
About Friday Night Inc.
Friday Night Inc. is a Canadian public company, which owns and controls cannabis and hemp based assets in Las Vegas Nevada.  The company owns 91% of Alternative Medicine Association, LC (AMA), a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of unique cannabis-based products and manufactures other third-party brands.  Infused MFG, also a 91% owned subsidiary, produces hemp-based, CBD products, thoughtfully crafted of high quality organic botanical ingredients.  Friday Night Inc. is focused on strengthening and expanding these operations within and outside of the state.
 
For more information, please contact:
Joe Bleackley, Corporate Communications
604-674-4756
Joe@FridayNightInc.com
 
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements in respect to assumptions of market demand, market share, potential real estate acquisitions and future business opportunities.  Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release.  Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents, which can be found under the Company’s profile on www.sedar.com.  The Company disclaims any obligation to update forward looking information contained herein, except to the extent required by law.
Click here to connect with Friday Night Inc. to receive an Investor Presentation.


Source: ww4.fscwire.com

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  • Q3 Systemwide Pro Forma Revenue increased 18% quarter-over-quarter to $22.3 million , 170% year-over-year – Company became cash flow positive from operations in August
  • Company sale leaseback transaction with Innovative Industrial Properties scheduled to close within two weeks. As a result of close, together with proceeds from the recently closed bought deal financing, the Company will have $16 million of cash and $43 million in long-term debt
  • Company is in the process of acquiring acreage to construct up to 210,000 square feet of flowering canopy and supporting manufacturing facility in Cook County, Illinois to exponentially increase capacity in state
  • Initial guidance for 2021 with Systemwide Pro Forma Revenue of $170 -180 million and Adjusted EBITDA of $40 -50 million
  • The Company’s existing projects at maturity represent a long-term revenue and EBITDA opportunity upwards of $650 million and $250 million

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