22Red, founded by Grammy award-winning and multi-platinum recording artist, Shavo Odadjian, launched successfully in California, sets sights on Nevada for 2020
LAS VEGAS, Nov. 13, 2019 /CNW/ - Flower One Holdings Inc. ("Flower One" or the "Company") (CSE: FONE) (OTCQX: FLOOF) – Nevada's largest cultivator, producer, and full-service brand fulfillment partner – today announced a new brand partnership agreement with premier Southern California cannabis brand 22Red, marking its first out-of-state expansion. 22Red, founded by world famous rock n' roll band, System Of A Down's bassist, Shavo Odadjian, has become known for its brand authenticity and proprietary genetics.
"Having 22Red choose Flower One as their brand fulfilment partner is further validation of our state-of-the-art operations in Nevada," said Salpy Boyajian, Vice President of Nevada Operations at Flower One. "We look forward to working with the entire team at 22Red to bring their premium California branded products and passion for cannabis to Nevada. 22Red is among the most prominent cannabis brands in Southern California, with top-shelf and limited edition strains that have quickly set the standard for premium cannabis. Catering to the cannabis connoisseur, 22Red's quality, potency, and branding are second to none. We look forward to joining forces with 22Red to bring their product to the Nevada consumer for the very first time."
"It's important to us that we maintain the same top-quality flower and extracts here in Nevada that our consumers have come to expect in California. We spent considerable time evaluating potential partners before electing to move forward with Flower One – Nevada's leading cannabis cultivator and producer," said Shavo Odadjian, Founder of 22Red. "With Flower One's robust distribution channel and strong relationships with local cannabis retailers, I am confident 22Red will be in excellent hands."
22Red will be available for purchase in Nevada in the Spring of 2020 and will ultimately include the brand's entire selection of dry flower and pre-roll products (Church 22, Mimosa22, Caramel Gelato, and 22OG), vape cartridges (OG Kush, Strawberry Banana, and Watermelon), and CBD selections (Watermelon and Orange Mint).
About Flower One Holdings Inc.
Flower One is the largest cannabis cultivator, producer, and full-service brand fulfillment partner in the state of Nevada. By combining more than 20 years of greenhouse operational excellence with best-in-class cannabis operators, Flower One offers consistent, reliable, and scalable fulfillment to a growing number of industry-leading cannabis brands. Flower One's flagship 400,000 square-foot greenhouse and 55,000 square-foot production facility is used for large scale cannabis cultivation, processing, and manufacturing. Flower One also owns and operates a second production facility in Las Vegas, with 25,000 square-feet of indoor cultivation and a commercial kitchen that will produce several of the nation's top-performing edible and beverage brands. Flower One produces a wide range of products ranging from wholesale flower, full-spectrum oils, and distillates to finished consumer packaged goods including flower, pre-rolls, concentrates, edibles, beverages, and topicals for the top-performing brands in cannabis.
The Company's common shares are traded on the Canadian Securities Exchange under the Company's symbol "FONE" and in the United States on the OTCQX Best Market under the symbol "FLOOF". For more information, visit: https://flowerone.com
Founded in 2018 by System Of A Down bassist Shavo Odadjian, 22Red is a Los Angeles based premier cannabis and apparel brand. 22Red cannabis products are thoughtfully curated, maintaining a high-level potency and recognized throughout Southern California and Nevada for their proprietary strains. Driven by passion and quality, 22Red is ushering in a new era of lifestyle branding. Delving beyond the surface of celebrity, 22Red dedicates itself to providing customers with premium cannabis and high-quality apparel. Recognized for its outstanding products and activism, 22Red received the 2019 High Times Dope Cup award for Best CBD Vape and 2019 California Cannabis Awards nomination for Advocate of the Year.
Cautionary Note Regarding Forward Looking Information
Statements in this press release that are not statements of historical or current fact constitute "forward looking information" within the meaning of Canadian securities laws and "forward looking statements" within the meaning of United States securities laws (collectively, "forward-looking statements"). Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from historical results or from any future actual results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "potential," "should," "may," "will," "plans," "continue" or other similar expressions to be uncertain and forward looking.
Forward-looking statements may include, without limitation, statements relating to the Company's leadership in cannabis cultivation, production and full-service brand fulfillment partner and its ability to (i) offer consistent, reliable, and scalable fulfillment to a growing number of industry-leading cannabis brands, (ii) to produce produce several of the nation's top-performing edible and beverage brands and a wide range of products ranging from wholesale flower, full-spectrum oils, and distillates, and (iii) to maintain its distribution channels and strong relationships with local cannabis retailers; the Company's ability to bring 22Red's products to Nevada; the availability of 22Red's products in Nevada in the Spring of 2020 and the selection of brands to be included; and 22Red's ability to continue delivering high quality products.
The Company is indirectly involved in the manufacture, possession, use, sale and distribution of cannabis in the recreational and medicinal cannabis marketplaces in the United States through its subsidiary Cana Nevada Corp. Local state laws where Cana Nevada Corp. operates permit such activities; however, these activities are currently illegal under United States federal law. Additional information regarding this and other risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's short form base shelf prospectus dated October 22, 2019 and the prospectus supplement dated November 8, 2019 (collectively, the "Prospectus"), both filed on its issuer profile on SEDAR at www.sedar.com.
The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement, the "Forward-Looking Statements" section contained in the Company's Prospectus. All forward-looking statements in this press release are made as of the date of this press release. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company's public securities filings with the Canadian securities commissions, including the Company's Prospectus.
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.
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 and does not undertake any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise, 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 Flower One inquiries please contact: Flower One Holdings Inc., Ken Villazor, President & CEO, 416.913.9642, [email protected]; Flower One investor relations inquiries: United States: ADDO Investor Relations, 310.829.5400, [email protected]; Canada: NATIONAL Capital Markets, 416.848.9835, [email protected]; Flower One media inquiries: Natalie Martin, 604.738.2220, [email protected]; 22Red inquiries: Marylyn Simpson, 310.274.6726, [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...