Flower One Announces Licensing Agreement and Brand Partnership to Bring California Cannabis Brand, Palms, to Nevada
TORONTO, Jan. 24, 2019 /CNW/ - Flower One Holdings Inc. ("Flower One" or the "Company") (CSE: FONE) (OTCQB: FLOOF) today announced a new licensing agreement and Brand Partnership for cannabis-product fulfillment in Nevada. Palms is a California-based, experience-driven cannabis brand known for high-quality pre-rolls that offers consumers a thoughtful and consistent cannabis experience. Flower One is now licensed to manufacture, distribute and sell Palms' signature cannabis products to all cannabis retailers in Nevada, marking the consumer brand's first out-of-state expansion.
"We're excited to be a part of the Palms market entry into Nevada," said Ken Villazor, President and CEO of Flower One. "As Palms joins Flower One's network of Brand Partners, we gain the ability to reach a valuable segment of Nevada's recreational market, while strengthening our position and ability to pair cannabis consumers in Nevada with a thoughtful, quality cannabis experience at a price point that resonates."
"Palms' entry into the Nevada market will introduce cannabis consumers of varying user sophistications, to an enjoyable and consistent cannabis experience," said Noah Annes, Co-Founder and CEO of Palms. "We're so excited to expand beyond the state of California into Nevada, and to pursue our mission of bringing a premium and positive cannabis experience to anyone who wants it. We couldn't have imagined that the opportunity to enter the Nevada market would come so early on, and it's all thanks to the experienced team behind Flower One and their ability to deliver high quality cannabis at scale. We're excited to elevate the cannabis experience for all consumers, recreational and experienced, in Nevada."
From the choice of flower to design and packaging, Palms is about providing a thoughtful experience with the casual and recreational consumer in mind. Their products lines such as 'Social' and 'Chill', ensures that consumers are able to find a product that speaks to their experience level and knowledge base. Palms' 'Social' sativa pre-roll features a sour tangie strain with a distinct citrus scent and flavor, and invokes a fun, uplifting experience that isn't overwhelming in social settings. The 'Chill' indica hybrid pre-roll induces a relaxing experience, featuring a taffie strain with subtle citrus flavors blended with hints of caramel.
About Flower One Holdings Inc.
Flower One Holdings is sharply focused on quickly becoming the leading cannabis cultivator, producer and innovator in the highly lucrative Nevada market. Flower One owns and operates a 25,000 square foot cultivation and production facility in North Las Vegas, with nine grow rooms, and owns the established NLV Organics consumer brand of cannabis products. The Company is also rapidly converting its 455,000 square foot greenhouse and production facility, which is the largest in the State of Nevada, for cultivating and processing high-quality cannabis at scale. Combined, the flagship greenhouse facility and production facility (once fully operational) and the North Las Vegas facility provide Flower One with 480,000 square feet of capacity for cultivation and processing, production and high-volume packaging of dry flower, cannabis oils, concentrates and infused products. The Company is fully licensed for medical marijuana cultivation and production, as well as recreational marijuana cultivation and production in the state of Nevada and currently holds licensing agreements with their Brand Partners Flyte Concentrates, Rapid-Dose Therapeutics, Old Pal, and Palms.
Flower One's common shares are traded on the Canadian Securities Exchange under the symbol "FONE" and in the United States on the OTCQB under the symbol "FLOOF." For more information visit: https://flowerone.com
About Palms
Palms pre-rolls were created to ensure that everyone has access to a high-quality cannabis experience. The entire brand, product and packaging has been thoughtfully created with the casual and recreational consumer in mind. The flower is mid-strength by design and provides a great functional high. Palms pre-rolls are labeled by intended use or setting (Social & Chill) as opposed to specific strain names. The SOCIAL pre-rolls are perfect for a night out, dinner party or when you're headed on an adventure. The CHILL pre-rolls are ideal for relaxing at home, going to the movies or winding down after a busy day.
Palms products were born in Los Angeles and can be found throughout Southern California and, in the coming months, Nevada. For more information visit: https://palmspremium.com
Cautionary Note Regarding Forward Looking Information
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Flower One's public documents. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward- looking statements.
Forward-looking statements may include, without limitation, statements relating to the execution of the Company's strategy and intent to quickly become the leading cannabis cultivator, producer and innovator in Nevada, timing of Flower One's production and scope of distribution of Palms in Nevada, the scale and capacity of Flower One's cultivation, processing and custom pre-roll packaging facilities in Nevada, the size and continued growth, profitability, maturity, retail sales and size of the cannabis market in Nevada, the ability of Palms and Flower One to distribute products through all the legal dispensaries in Nevada.
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.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
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 any intention or obligation to update or revise such information, 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]; Palms Premium inquiries: Noah Annes, 612.743.6274, [email protected]
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