Partnership marks Flower One's Entry into the Edibles Market
TORONTO, Feb. 14, 2019 /CNW/ - Flower One Holdings Inc. ("Flower One" or the "Company") (CSE: FONE) (OTCQB: FLOOF) is pleased to announce a new long-term licensing agreement and brand partnership with CannAmerica Brands Corp. ("CannAmerica Brands") (CSE: CANA) (OTCQB: CNNXF) for cannabis-product fulfillment in Nevada. CannAmerica Brands is a Colorado-based, marine-veteran-founded cannabis brand known for its line of top-tier cannabis gummies and edibles currently available in three states. Flower One is now licensed to manufacture, distribute and sell CannAmerica Brands' signature cannabis Fruit Juice Gummies and Super Soft Gummies to all cannabis retailers in Nevada. This agreement represents Flower One's official launch into the edibles market.
"Flower One is thrilled to welcome a true leader in edibles, CannAmerica Brands, to our suite of Brand Partners," said Ken Villazor, President and CEO of Flower One. "We are committed to providing Nevada retailers with reliable access to cannabis across the product spectrum and throughout the value chain. This news marks our official launch into the edibles market, showcasing Flower One's early capabilities to bring a diversity of products to Nevada at a scale that retailers can rely on."
"In anticipation of the growing number of retail locations in the state of Nevada, coupled with increased consumer demand, we wanted to partner with a large-scale producer in Nevada – and Flower One was the obvious choice," said Dan Anglin, Founder and CEO of CannAmerica Brands. "The footprint of Flower One's vast greenhouse facility is impressive, but perhaps even more noteworthy are the planned production capabilities of their 55,000 square-foot facility. It is something I've never encountered in my many years operating in the cannabis industry and has wonderful implications for the retail community, and subsequently for cannabis consumers. We're so excited about this new partnership with Flower One in Nevada; we see a long-term future with them as we continue to grow our iconic brand across America."
New variations of CannAmerica Brands' bestselling Fruit Juice Gummies and Super Soft Gummies products will soon be available for purchase in the state of Nevada. The Fruit Juice Gummies and Super Soft Gummies will feature new formulas that improve on CannAmerica's existing flagship products and will be categorized according to three flavour profiles: sweet (strawberry banana, peach, orange sherbet), sour (blue raspberry, cherry, bomb pop) and a sweet and sour combination. New, sleek packaging will also arrive this spring season in order to drive brand consistency across all of CannAmerica Brands' markets.
Today's Brand Partner announcement marks the conclusion of CannAmerica's existing licensing agreement with Nevada-based cannabis cultivator, Matrix NV. "We'd like to thank Matrix NV for helping us with our first-entry into the Nevada market and for the relationship that was forged," said Mr. Anglin. "Without a doubt, CannAmerica Brands will be working very closely with the Matrix NV team to ensure a smooth and seamless transition."
About Flower One Holdings Inc.
Flower One is sharply focused on quickly becoming the leading cannabis cultivator, producer and innovator in the highly lucrative Nevada market. Flower One owns and operates a 25,000 square-foot cultivation and production facility in North Las Vegas, with nine grow rooms, and owns the established NLV Organics consumer brand of cannabis products. The Company is also rapidly converting its 455,000 square-foot greenhouse and production facility, which is the largest in the State of Nevada, for cultivating and processing high-quality cannabis at scale. Combined, the flagship greenhouse facility and production facility (once fully operational) and the North Las Vegas facility provide Flower One with 480,000 square feet of capacity for cultivation and processing, production and high-volume packaging of dry flower, cannabis oils, concentrates and infused products. The Company is fully licensed for medical marijuana cultivation and production, as well as recreational marijuana cultivation and production in the state of Nevada and currently holds licensing agreements with their Brand Partners, Flyte Concentrates, Rapid-Dose Therapeutics' Quick Strip, Old Pal, Palms, HUXTON, and CannAmerica Brands.
Flower One's common shares are traded on the Canadian Securities Exchange under the symbol "FONE" and in the United States on the OTCQB under the symbol "FLOOF." For more information, visit: https://flowerone.com
About CannAmerica Brands
CannAmerica Brands is a U.S. marine veteran founded and operated portfolio of cannabis brands with licensing agreements in the states of Colorado, Nevada and Maryland. The Company aims to maximize the value of its brands by employing strong brand management teams, marketing and licensing the brands through various distribution channels, including dispensaries, wholesalers and distributors, in the United States and internationally. The Company's core strategy is to enhance and monetize the global reach of its existing brands, and to pursue additional strategic acquisitions to grow the scope and diversity of its brand portfolio. For more information please visitwww.cannamericabrands.com
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 and intent to quickly become the leading cannabis cultivator, producer and innovator in Nevada, the scale and capacity of Flower One's cultivation, processing and custom pre-roll packaging facilities in Nevada, the Company's ability to distribute CannAmerica Brands' Fruit Juice Gummies and Super Soft Gummies to all cannabis retailers in Nevada and access the mainstream edibles market, the quality of the products distributed in Nevada, the continued growing number of retail locations in the Nevada and the increased consumer demand, the potentially long term of the licensing agreement with CannAmerica Brands, Flower One's ability to execute a rapid entry into Nevada's cannabis market [NTD. The statement goes a bit beyond, as the release states that FONE will reach every retailer, so I re-worded this and included it above.], the release of new CannAmerica Brands formulas and their potential improvement of CannAmerica Brands' product series, new potential packaging and the ability to drive consistency of all CannAmerica Brand products across North America.
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 United States 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 obligation to update or revise such information, except as required by applicable law.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR THEIR REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE Flower One Holdings Inc.
For further information: For inquiries please contact: Flower One Holdings Inc., Ken Villazor, President and CEO, 416.200.7641, [email protected]; Flower One Investor relations inquiries, NATIONAL Capital Markets, 416.848.9835, [email protected]; Flower One media inquiries, Natalie Martin, 604.738.2220, [email protected]; CannAmerica Brands, Dan Anglin, CEO and Director, 314.495.4589, [email protected]; CannAmerica Brands media inquiries, Kim Ring, 314.495.4589, [email protected]
Flower One Holdings Inc. is an Ontario-based company with strategic investments in the cannabis sector through its wholly-owned subsidiaries. The Company is sharply-focused on the recreational and medical cannabis markets in Nevada, where it is currently converting the...