Flower One and La Vida Verde Announce Long-Term Licensing Agreement to Bring Organic Cannabis Edibles and Tinctures to Nevada
With its latest brand deal, Flower One further diversifies its product offerings in Nevada with the addition of California-based, organic cannabis brand, La Vida Verde
TORONTO, July 9, 2019 /CNW/ - Flower One Holdings Inc. ("Flower One" or the "Company") (CSE: FONE) (OTCQX: FLOOF) today announced a long-term licensing agreement with California cannabis-favorite, La Vida Verde ("LVV") – the health-focused cannabis brand dedicated to utilizing high-quality, vegan, organic, gluten-free, and paleo-friendly ingredients to produce cannabis edibles and tinctures. With the addition of LVV to its growing portfolio of Brand Partners, Flower One further diversifies the cannabis offerings made available to Nevada's cannabis retailers and consumers. This marks LVV's first out-of-state expansion and entrance into Nevada.
"We are thrilled to announce West Coast cannabis brand, La Vida Verde, as the newest addition to Flower One's portfolio of Brand Partners, bringing their high-quality edibles to cannabis consumers and retailers across Nevada," said Ken Villazor, President and CEO of Flower One. "With the Flower One greenhouse now in a state of ongoing harvest, we are well positioned to accelerate La Vida Verde's Nevada market entry while employing our own proprietary techniques to ensure we're delivering the high-quality products, together. Today's partnership further solidifies our position as a leading cannabis cultivator and producer in Nevada, and allows us to further expand the product offerings made available in the state."
"The La Vida Verde team and I are very excited and humbled at the opportunity to have our brand elevated and shared with the Nevada market – locals and tourists alike – through Flower One," said Bryce Berryessa, President and Co-Founder of La Vida Verde. "After seeing the immense scale of Flower One's greenhouse facility in Nevada and their application of commercial agriculture techniques to complex crops, such as cannabis, we were not only reassured of their level of sophistication, but excited to leverage their demonstrated ability to meet our California-established production and cultivation standards. We are entering this partnership confident that the Flower One team will be able to execute on the La Vida Verde vision."
"La Vida Verde prides itself on giving cannabis consumers healthy options when it comes to their product of choice. Flower One's unique operational capabilities, using industry-leading technology to produce high-quality, custom-packaged cannabis at scale, will bring immense value to our brand and products," said Eric Hara, CEO of La Vida Verde. "Flower One is, without a doubt, a leading producer in the state, and in leveraging their strategic operational approach and scale, we find comfort in knowing that the supply and quality of La Vida Verde products available in Nevada will be reliably and consistently delivered to our new consumer base."
The parent company of a holistic line of edible cannabis products, LVV's organic, vegan, non-GMO and gluten-free products have been branded and are available through its three in-house brands: La Vida Verde, Skunk Feather™, and Blank Brand™. Later this summer, La Vida Verde will be introducing its three cannabis tinctures (Relax, Restore, and Revive), along with three gummy candies (Island Guava, Pineapple Butterscotch, and Rootbeer Float) from Blank Brand™, in addition to a variety of pre-rolls and packaged flower under its flagship brand Skunk Feather™. Additional products under all three brands will roll out into the Nevada market before the close of 2019.
About Flower One Holdings Inc.
Flower One is the largest cannabis cultivator, producer and full-service brand fulfilment partner in the highly lucrative Nevada market. Flower One's fully operational flagship 400,000 square-foot greenhouse and 55,000 square-foot processing and custom packaging facility is used for cannabis cultivation, processing, production and high-volume custom packaging of dry flower, pre-rolls, cannabis oils, distillates, concentrates, edibles, topicals and infused products. Operating under continuous harvest, Flower One is capable of producing 140,000 pounds (62,500 kilograms) of dry flower per year, housing over 80,000 plants per crop cycle across eight flower zones. The Company also owns and operates a 25,000 square-foot indoor cultivation and production facility in North Las Vegas, with nine grow rooms, and owns the established NLV Organics consumer brand of cannabis products.
Leveraging its scale and more than 20 years of greenhouse operational excellence, Flower One offers consistent, reliable, high-volume, and just-in-time fulfilment to a growing number of established cannabis brands, including Flyte Concentrates, Rapid-Dose Therapeutics' Quick Strip, Old Pal, Palms, HUXTON, CannAmerica Brands, Grenco Science (G Pen), The Medicine Cabinet, and La Vida Verde. The Company is fully-licensed for medical marijuana cultivation and production, as well as recreational marijuana cultivation and production in the state of Nevada.
The 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.
About La Vida Verde, Inc.
In addition to LVV's wholesale flower, packaged flower, pre-rolls and blunts, its differentiating products include gummies, upscale protein bars, new chocolate forms and super cookies. LVV Brands currently include Skunk Feather Cannabis™ and Blank Brand™. LVV has been operating in California since 2015, and currently has extraction, manufacturing and distribution capability. LVV is a leader in the extraction field, being one of the first to incorporate full spectrum testing in every product, testing for potency, terpenes, pesticides and residual solvents. Its concentrates are pharmaceutical grade and free of any pesticides, microbial contaminants, heavy metals or additives. LVV has recently doubled its manufacturing capability and has installed state-of-the-art technology. LVV believes that the best medicine starts with the food you eat and it takes pride in producing products for people who are searching for a natural and healthy alternative for nurturing their bodies. All of its products use only healthy fats, are vegan, organic, gluten-free, paleo friendly and low glycemic.
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 ability to maintain its ongoing harvest at the Company's greenhouse and to expand the product offerings in Nevada; Company's leadership in cannabis cultivation, production and full-service brand fulfillment partner; the Company's ability to meet LVV's production and cultivation standards and to execute LVV's vision; the introduction of new products from LVV, Blank Brand™ and Skunk Feather™ in the summer and some others over the course of 2019; the scale and capacity of Flower One's cultivation, production, processing and high-volume packaging facilities in Nevada; the profitability of the Nevada market; Flower One's production capacity of 140,000 pounds (62,500 kilograms) of dry flower per year, housing over 80,000 plants per crop cycle across eight flower zones; Flower One's ability to expand its cannabis offerings in Nevada or to offer the most cutting-edge cannabis experience; Flower One's ability to make La Vida Verde's product series available in Nevada or to offer a diversity of products; the term of the licensing agreement with the La Vida Verde; La Vida Verde's ability to continue delivering high quality, Ultra Premium Cannabis in and throughout our product and brands; and the potential quality and effects of La Vida Verde's product series.
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 management discussion and analysis dated May 30, 2019 (the :"MD&A") 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 most recent MD&A. 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 most recent MD&A.
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 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]; La Vida Verde media inquiries: Marylyn Simpson, 310.274.6726, [email protected]
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