Flower One modifies the terms of its short-term debt
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LAS VEGAS — Flower One Holdings Inc. (“Flower One” or the “Company”) (CSE: FONE) (OTCQX: FLOOF) (FSE: F11), Nevada’s leading cultivator and producer of cannabis, today announced extended the maturity date of its short-term debt of US$6,000,000 (the “Short-Term Debt”) from July 24, 2022 to December 31, 2022, which is referenced in the Company’s press release dated 27 January 2021. Remaining terms of debt Short-term debt remains in place.
The Company has determined that the extension of the maturity date of short-term debt is exempt from the formal valuation and minority approval requirements applicable to related party transactions under National Instrument 61-101 Minority Security Holders in Special Transactions (“MI 61-101”) pursuant to the financial hardship exemptions set forth in sections 5.5(g) and 5.7(1)(e) of NI 61-101.
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About Flower One Holdings Inc.
Flower One is the largest full-service branded cannabis cultivator, producer and fulfillment partner in the State of Nevada. Combining over 20 years of greenhouse operational excellence with best-in-class cannabis operators, Flower One delivers consistent, reliable and scalable execution to a growing number of industry-leading cannabis brands (Cookies, Kiva, Old Pal, Heavy Hitters, Lift Ticket’s, The Clear, HUXTON and Flower One’s main house brand, NLVO, etc.). Flower One currently produces a wide range of products from flowers, full spectrum oils and distillates to finished consumer packaged products, including a variety of: pre-rolls, concentrates, edibles, topicals and more for the most popular brands. cannabis performers. Flower One’s footprint in Nevada includes the company’s flagship facility, a 400,000 square foot high-tech greenhouse and a 55,000 square foot production facility, as well as a second site with an indoor growing facility. of 25,000 square feet and a commercial kitchen. Flower One has assembled an industry-leading team dedicated to making high-quality cannabis accessible to everyone.
The Company’s common shares trade on the Canadian Securities Exchange under the Company’s symbol “FONE”, in the United States on the OTCQX Best Market under the symbol “FLOOF” and on the Frankfurt Stock Exchange under the symbol “F11”. For more information, visit: https://flowerone.com.
Caution 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 information” statements”). These 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 any actual future results expressed or implied by these statements. prospective. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to review statements labeled with the terms “believes”, “beliefs”, “expects”, “intends”, “anticipates”. , “potential”, “should”, “may”, “will”, “plan”, “continue” or other similar expressions as uncertain and forward-looking.
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Forward-looking statements may include, but are not limited to, statements regarding: the Company’s leadership as a full-service cannabis cultivator, producer, innovator and brand fulfillment partner; and producing a wide range of products for the most successful brands in the country.
The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement, the “Cautionary Note Regarding Forward-Looking Information” section contains the Company’s MD&A for the three months ended March 31, 2022 ( the “MD&A”). All forward-looking statements contained in this press release are made as of the date of this press release. The forward-looking statements contained herein are also generally subject to assumptions and risks and uncertainties that are described from time to time in the Company’s public filings with Canadian securities commissions, including the Company’s MD&A. the society. 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 may be other factors that cause the results , performance or achievements are not as anticipated, estimated or expected.
Although the Company believes that all forward-looking information and statements contained herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that such information and statements forward-looking statements will prove to be accurate and, accordingly, readers are urged to rely on their own assessment of such risks and uncertainties and not to place undue reliance on such forward-looking information and statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this release. Flower One disclaims and undertakes no intention or obligation to update or revise these 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 ITS REGULATORY SERVICE PROVIDER HAS REVIEWED NOR ACCEPTS RESPONSIBILITY FOR THE SUITABILITY OR ACCURACY OF THIS RELEASE.
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Flower One Investor Relations
Kellen O’Keefe, President and CEO
Flower A Media
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