FlytePen™ and JetPack™ cannabis products to be made available in Nevada in the coming months
TORONTO, Jan. 17, 2019 /CNW/ - Flower One Holdings Inc. ("Flower One" or the "Company") (CSE: FONE) (OTCQB: FLOOF) today announced a new licensing agreement and Brand Partnership for cannabis-product fulfillment in Nevada. Flower One is licensed to manufacture, distribute and sell the two signature cannabis products from Flyte Concentrates (Flyte™) to all 130 cannabis retailers in Nevada, marking the consumer brand's U.S. market entry following successful launches in other markets.
"This is another milestone partnership for Flower One," said Ken Villazor, Flower One's President and CEO. "Adding Flyte to Flower One's portfolio of Brand Partners further diversifies the line of products we have to offer our retail partners. Flower One is excited to expedite the market entry of Flyte's distillate and edible product lines in Nevada, which hosts more than 55 million tourists annually from all over the world, and is one of the most lucrative cannabis markets in the United States."
As a distillate brand, Flyte is best known for its two product lines: FlytePen and JetPack. FlytePen is a slim distillate vaporizer system with a cartridge containing 0.8ml of premium cannabis oil. Using a proprietary process and formulation, the FlytePen can rapidly vaporize the thickest and most purified cannabis oils. Flyte JetPacks are convenient single-dose 10ml liquid THC or CBD shots, about 2mm thick and about the size of a credit card. The contents of the package can be added to any hot or cold beverage for a discreet experience.
"We value our relationship with the team at Flower One, who have felt like family since the beginning," says Al Watt, President and COO of Flyte. "There was an immediate sense of trust and a mutual understanding that we shared the same business DNA."
About Flower One Holdings Inc.
Flower One Holdings 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.
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 Flyte Concentrates
Flyte is a premium cannabis distillate and delivery system brand with deep expertise in the extraction, development and marketing of premium cannabis distillate-based products. Powered by super-charged group of cannabis enthusiasts and engineers, the Flyte crew drives evolving extraction technology to bring you what we believe are the very best concentrate products in Nevada and the USA. For more information:
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, timing of Flower One's production and scope of distribution of Flyte in Nevada, the scale and capacity of Flower One's cultivation, processing and custom packaging facilities in Nevada, the size and continued growth, profitability, maturity, retail sales and size of the cannabis market in Nevada, the ability of Flyte and Flower One to distribute products through all the legal dispensaries in Nevada, and Flyte's expected development of extraction technology.
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]; Flyte inquiries, Al Watt, President and COO, 604.351.7061, [email protected]