VANCOUVER, Feb. 27, 2018 /CNW/ - Friday Night Inc. (the Company or Friday Night) (CSE: TGIF) (FWB: 1QF) (OTCQB: TGIFF) is pleased to provide an update on its 91% owned subsidiary, Infused MFG. ("Infused") and the Canna Hemp Brand.
Infused's Canna Hemp brand has seen strong demand in the California market since the state level legalization on January 1st 2018. The California cannabis market is currently estimated to be worth $8.5 Billion dollars.
Canna Hemp products are now selling in 15 retail locations in California and Infused has recently engaged 2 additional sales representatives to expand on their distribution network.
After careful review of the evolving Las Vegas market and the success in the California market, the Company has decided to indefinitely postpone the spin-out of Infused MFG. Management believes Infused and the Canna Hemp brand will continue to show strong growth and success in new markets and will provide value to the shareholders of Friday Night.
The Company also announced that 1,300,000 stock options were issued to advisors and a director pursuant to the terms of the Company's stock option plan. These options are exercisable at $0.65 for a period of 5 years.
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. 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. Friday Night Inc. is focused on strengthening and expanding these operations within and outside of the state.
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 or the Canadian Securities Exchange.
SOURCE Friday Night Inc.
For further information: Joe Bleackley, Corporate Communications, 604-674-4756, [email protected]