Launches New Corporate Video of 55,000 square foot Production Lab
TORONTO and LAS VEGAS, March 12, 2020 /CNW/ - Flower One Holdings Inc. (the "Company") (CSE: FONE) (OTCQX: FLOOF) (FSE: F11), a leading cannabis cultivator, producer and innovator in Nevada, today announced the launch of a new corporate video that provides an exclusive view of its production and extraction facility.
Within just over seven months in operation, Flower One now cultivates approximately 150 strains of cannabis while also maintaining a diverse catalogue of nearly every cannabis derivative product. The Company has the capacity to process between 3,000 and 5,000 pounds of biomass and between 100 and 150 liters of distillate per week. Flower One's bulk distillate processing boasts exceptionally high success rates, with 90 percent of the lots achieving potencies of 90 percent or greater in Delta-9 THC levels. These premium downstream products enable the Company to capture higher margins, while, at the same time, provide brand and white label partners some of the most cutting-edge derivative products available on the market today.
"Flower One is defining the future of cannabis, offering consistent, reliable, and scalable fulfillment to a growing number of industry leading cannabis brands," said Thomas Rosengren, Flower One's Director of Extraction and Production. "By combining more than 20 years of greenhouse excellence with strong cannabis operators and what we believe is the largest production and extraction facility in all of Nevada, we are uniquely positioned to satisfy our customers' developing needs."
Value, premium and luxury concentrates are the foundation for the Company's ability to produce derivative products across all pricing tiers. These derivatives can in turn be used by Flower One to develop hundreds of unique stock-keeping units (SKUs) for the Nevada market. At its production facility, for example, Flower One produces cannabinoid-rich oils, high-grade terpene sauces and full spectrum live resin amongst dozens of other cannabis and botanical derivatives. The Company is also developing a full line of medical-grade products.
"Since fully commissioning our production facility in September 2019, we've been able to pivot our focus toward optimization, finding ways to maximize quality and margins, while minimizing costs," said Kellen O'Keefe, Flower One's Chief Strategy Officer. "With our production lab live, we leverage our exceptional catalogue of genetics to offer a variety of non-competing products in nearly every cannabis derivative and price range, a true differentiator for our company and a key driver behind our consistently growing portfolio of brand and white label partners."
To learn more about Flower One and view the Company's new corporate video, please visit www.flowerone.com.
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 strong cannabis operators, Flower One offers consistent, reliable, and scalable fulfillment to a growing number of well-known 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 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, 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", in the United States on the OTCQX Best Market under the symbol "FLOOF" and on the Frankfurt Stock Exchange under the symbol "F11". For more information, visit: https://flowerone.com.
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 as a cannabis cultivator, producer, innovator and full-service brand fulfillment partner; the Company's margins and costs; the Company's ability to provide cutting-edge derivative products and luxury concentrates, to offer consistent, reliable and scalable fulfilment to its brand partners, to consistently grow its portfolio of brand partners, and to leverage its catalogue of genetics; and the production of the nation's top-performing edibles brands.
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 Shelf Prospectus dated September 27, 2019 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 "Cautionary Statement regarding Forward-Looking Information" section contained in the Shelf 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 Shelf 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.
SOURCE Flower One Holdings Inc.
For further information: Flower One: Ken Villazor, President and CEO, 416.200.7641, [email protected]; Investor Relations & Media: Canada, NATIONAL Capital Markets, 416.848.9835; United States, ADDO Investor Relations, 310.829.5400, [email protected]