VANCOUVER, Aug. 7, 2018 /CNW/ - Friday Night Inc. (the "Company" or "Friday Night") (CSE: TGIF) (FWB: 1QF) (OTCQB: TGIFF) is pleased to announce record sales for the month of July from its subsidiaries in Nevada.
Alternative Medicine Association ("AMA") and Infused MFG ("Infused") reported combined sales in July of $1.6M CAD, a 362 percent increase over July 2017. This record month of sales comes at the same time the company celebrates its first year anniversary.
AMA's cannabis flower sales contributed 35 percent, while sales of concentrates generated 65 percent of AMA's revenues. Infused's line of CBD products contributed 85 percent of sales, while 15 percent relates to its expanding hemp-based line. Sold in State-licensed dispensaries and retailers, AMA and Infused products continue to see increased sales and market share.
"The increased sales of both medicinal and adult-use cannabis and CBD products are a result of improving efficiencies and processes in our current facilities while we await completion of our expansion projects. The Nevada market continues to demand high quality, well branded products like ours, and we are working diligently to increase our footprint and expand our product line over the coming months," said Mr. Chris Rebentisch, Head of US Operations and Founder of Infused.
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 as well as an international cannabis and mining security logistics consulting firm. 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. The Company's wholly-owned subsidiary, Spire Global Strategy is a leading provider of customized security programs, compliance, information technology, buildout design, and due diligence services for the legal cannabis, mining and investment sectors. Friday Night Inc. is focused on strengthening and expanding its current operations.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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. 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. Friday Night undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
View original content with multimedia:http://www.prnewswire.com/news-releases/friday-night-inc-announces-record-sales-from-its-nevada-operations-300693166.html
SOURCE Friday Night Inc.
For further information: Alexia Helgason, Corporate Communications: 604-674-4756 (ext. 1), Alexia@FridayNightInc.com; Brayden Sutton, Director/President & CEO, 604-674-4756 (ext. 1)