Flower One Announces Licensing Agreement with The Clear Cannabis Group, Bringing Pure Refined Cannabis Oils to Nevada
Flower One's tenth brand partnership further expands the range of cannabis products available to Nevada's cannabis retailers and consumers
TORONTO, July 16, 2019 /CNW/ - Flower One Holdings Inc. ("Flower One" or the "Company") (CSE: FONE) (OTCQB: FLOOF) today announced a long-term licensing agreement with Denver-based Clear Cannabis, Inc. ("CCI") – who licenses The Clear™, one of eight marquee brands licensed under its parent company. The Clear product suite was founded by scientists and engineers with substantial expertise in chemistry, biology, and engineering, and the vision of carving out a unique space within the cannabis industry. The Clear is the first manufacturer to bring pure, refined cannabis oil to market globally. Flower One is now licensed to produce, manufacture, and distribute The Clear's product to Nevada's cannabis retailers, providing the state's consumers with a consistent supply of The Clear's popular line of flavorful cannabis oils.
"We are excited to welcome The Clear to Flower One's growing portfolio of Brand Partners," said Ken Villazor, President and CEO of Flower One. "This is our tenth brand partnership to date, aligning with our commitment to expand the range of cannabis products available to cannabis retailers and consumers in Nevada, and to contribute to the growing product diversity of the State's retail market."
"We are thrilled to enter into a partnership with Flower One to meet the growing market demand for The Clear cannabis products in Nevada," said John Cushman, CEO of Clear Cannabis, Inc. "There is a clear synergy between our two companies, and we are excited about this opportunity. Partnering with Flower One gives us the infrastructure we need to gain significant market share in the Nevada market, and aligns perfectly with our national growth strategy."
Founded in 2013, The Clear has established itself as the first and original cannabis distillation company. Featuring a robust menu of 17 flavorful vape cartridges, among other high-quality products, The Clear utilizes steam-distilled plant extracts and unmatched state-of-the-art technology to provide consumers with a reliable, clean, and consistent cannabis experience. Soon The Clear's C-Cell cartridges and top pull batteries will be available in Nevada, providing cannabis consumers with a consistent dosing experience. Additional vape cartridges will follow later this year.
About Flower One 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, La Vida Verde and The Clear Cannabis Group. 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 Clear Cannabis Inc.
Clear Cannabis, Inc. ("CCI") is a distribution infrastructure company which licenses intellectual property rights to partner businesses ("Partner Licensees") operating in the state-legal marijuana industry to manufacture, market and distribute cannabis products under The Clear brand. Additionally, CCI provides ancillary products and services to the cannabis industry and end customers. While CCI licenses its intellectual property rights to Partner Licensees, who manufacture and distribute products containing THC, CCI is not directly involved in the manufacture, sale or distribution of products containing THC. For more information, visit: https://clearcannabisinc.com.
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 The Clear's production and cultivation standards and to execute The Clear's vision; the introduction of new products from The Clear 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 The Clear's product series available in Nevada or to offer a diversity of products; the term of the licensing agreement with The Clear; The Clear's ability to continue delivering high quality, Ultra Premium Cannabis in and throughout our product and brands; and the potential quality and effects of The Clear'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.
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]; Clear Cannabis Inc.: John Cushman, CEO, 720.490.4870, [email protected]; Clear Cannabis Inc. Investor relations inquiries: Investor Relations, 720.200.3001, [email protected]; Clear Cannabis Inc. media inquiries: Seth Wiggins, Chief Revenue Officer, 720.490.4871, [email protected]
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