Flower One Hires Cannabis Industry Executive, Kellen O'Keefe, to Lead Strategy and Development

Industry leader, Kellen O'Keefe, shifts from retail to cultivation and production to focus on the supply and distribution of large-scale, high-quality cannabis

TORONTO, July 15, 2019 /CNW/ - Flower One Holdings Inc. ("Flower One" or the "Company") (CSE: FONE) (OTCQX: FLOOF) officially welcomes Kellen O'Keefe to the team as Chief Strategy Officer. O'Keefe hails most recently from MedMen Enterprises, one of America's leading cannabis retailers and premium brands. As the Senior Vice President of Business Development of MedMen, he was instrumental in capitalizing the business as well as sourcing, accessing and executing the company's M&A transactions. This news follows Flower One's announcement last week of its ninth-Brand Partnership deal in just seven months, which showcased the Company's ongoing ability to bring some of the nation's leading cannabis brands to new markets through its large-scale product fulfillment and distribution.

"We are excited to welcome Kellen O'Keefe to our team and look forward to benefiting from his deep knowledge of the U.S. cannabis landscape," said Ken Villazor, President and CEO of Flower One. "Kellen brings a decade-long passion for driving the industry forward, not to mention a large, well-connected network. Having just announced our ninth Brand Partnership, we're looking forward to leveraging Kellen's proven expertise in business development as we continue to grow our Brand Partner network in Nevada and beyond."

"I'm thrilled to be joining the well-rounded, all-star team at Flower One," said Kellen O'Keefe, Chief Strategy Officer of Flower One. "I believe Flower One's execution is second to none. The company has proven its ability to not only leverage its extensive commercial agriculture experience, but also insert best-in-class processing and manufacturing. From a seed-to-shelf perspective, Flower One has established an industry-first, turnkey solution for cannabis brands seeking access to consistent and reliable high-quality cannabis."

Leveraging his knowledge of cannabis, strategic partnerships, and brand development, O'Keefe will oversee Flower One's market strategies, including ongoing investor relations and the growth and development of the Company's Brand Partner program. O'Keefe will also lend strategic marketing advice and implement best practices to ensure the Company continues to be well-positioned in the eyes of the industry, public markets, and investor audiences. Prior to cannabis Kellen was co-creator of Oakley's groundbreaking experiential program "Learn to Ride," where he created and produced branded content, influencer, and multimedia campaigns for a number of his former advertising clients including but not limited to Anheuser-Busch, Audi, Chipotle, Crown Imports, Wheels Up, T-Mobile, Starbucks, and Virgin.

O'Keefe will be representing Flower One this summer, speaking at several of the nation's most notable cannabis events, including:

• Arcview, Chicago: July 17th-19th
• Trailblazers Summit Series, Utah: August 2nd-4th
• Canaccord Growth Conference, Boston: August 7th-8th

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, 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. 

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 execution of the Company's ability to grow and develop its Brand Partner network in Nevada and beyond and to be well-positioned in the eyes industry, public markets, and investor audiences; the Company's strategy to be the leading cannabis cultivator, producer and full-service brand fulfillment partner; the profitability of the Nevada market; the Company's ability to fulfil its production target of 140,000 pounds (62,500 kilograms) of dry flower per year; the profitability of Flower One's activities in Nevada; and the scale and capacity of Flower One's cultivation, processing and high-volume packaging facilities in Nevada. 

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 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 management's discussion and analysis ("MD&A"), which are available on SEDAR at www.sedar.com. 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 nor 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]