Flower One to Bring Arizona-Based Cannabis Brand, HUXTON, to Nevada Flower One Holdings Inc. ("Flower One" or the "Company") (CSE: FONE) (OTCQB: FLOOF) today announces a new licensing agreement and Brand Partnership for cannabis-product fulfillment in Nevada. HUXTON is an Arizona-based lifestyle cannabis brand known for their curated, consistent, multi-strain blended products. Flower One is now licensed to manufacture, distribute and sell HUXTON’s signature cannabis products to all cannabis retailers in Nevada. "We’re pleased to have HUXTON join our portfolio of Brand Partners," said Ken Villazor, President and CEO of Flower One. "As we continue to bring leading brands to the Nevada market, we remain focused on offering retailers and consumers options that represent each part of the cannabis value chain. We’re excited to continue our preparation for rapid market entry into Nevada’s cannabis market, and to broaden our product offering with a diverse range of thoughtfully curated cannabis products that prioritize the consumer’s experience above all else." Since 2015, HUXTON has focused on simplifying the process by giving the consumer more control of their cannabis experience. "We’re a small group of cannabis enthusiasts, obsessed with crafting consistent, memorable experiences," says Dustin Johnson, Co-Founder and Managing Partner of HUXTON. "Our team is thrilled to be presented with an opportunity to partner with Flower One to further expand the reach of our product offerings beyond Arizona and Washington. We’re firm believers that special moments deserve the right experience, and so do the consumers in Nevada." In the coming months, HUXTON’s three product series, HIFI, RISE, and ZEN, will be available in Nevadadispensaries as pre-rolls and vape pens, and branded according to the experience they offer. Each blend comprises hand-selected variety of cannabis genetics that unite full terpene, cannabinoid, and trichrome profiles to provide consumers with an experience that is enjoyable and consistent. HIFI combines genetics to create an energetic and euphoric experience; RISE genetics restore vitality, productivity, and focus; and ZEN induces an experience of relaxation and rejuvenation.
About Flower One Holdings Inc. Flower One 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 Vegasfacility 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’ Quick Strip, Old Pal, Palms, and HUXTON. 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 HUXTON HUXTON, a leading experience-based, lifestyle cannabis brand was developed to simplify the buying process and give the consumer more control over their cannabis experience by creating a set of cannabis product that are are curated and labeled by effect. HUXTON applies the latest knowledge in cannabis science and terpene chemistry to hand-select premium strains and formulate each of HUXTON’s blended product categories, HIFI, RISE and ZEN. Each VIBE product series is labeled by "how it will make you feel," allowing consumers to easily pick their desired experience. HUXTON puts control back into the consumer’s hands with cannabis that is designed to complement their individual lifestyle. With discreet and sophisticated packaging that is designed for on-the-go lifestyles, HUXTON’s experience-based products are available in pre rolls, flower tins, and vape pens. To learn more about HUXTON, please visit www.huxtonusa.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, 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, Flower One’s ability to execute a rapid entry into Nevada’s cannabis market and to make HUXTON’s product series available in Nevada, and the potential effects of HUXTON’s product series. 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.
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LOS ANGELES, Jan. 29, 2019 /PRNewswire/ -- Los Angeles-based lifestyle brand, Old Pal has added three top executive leaders to its list of best in class new hires as they continue to position the company for unprecedented growth in 2019. Allison Pankow has been named VP of Marketing, Mike Flynn joins as VP of Operations and Joe Franciskovich is Old Pal's new Chief Financial Officer. Ms. Pankow joins the Old Pal team with a diverse background in advertising and marketing, having spent time on the agency side as well as brand. Her career started in Minneapolis, most notably working for Target HQ on their digital marketing team where she gained valuable experience in the workings of a national fortune 500 retail brand. Her agency career was spent at two of the world's most disruptive agencies, Anomaly and R/GA in New Yorkand Los Angeles. At both, she was managing multimillion-dollar global ad campaigns for an impressive client list including Converse, Beats by Dre, Verizon, Marriott Hotels and SquareSpace. Ms. Pankow joins the team most recently from MedMen, the cannabis investment and management firm that completed a minority investment with Old Pal in Fall 2018. There she quickly gained invaluable experience in the cannabis space learning the overall landscape and nuances of the rapidly evolving, heavily regulated industry. While at MedMen she managed multimillion-dollar campaigns offering strong strategic leadership to effectively navigate and execute some of the first 360 campaigns of that magnitude the cannabis industry has seen. She was also involved with MedMen's first product launch, Statemade, helping lead the marketing and creative efforts of brand strategy and positioning translating that through packaging design and marketing execution. Mr. Flynn brings over twenty years of international food and beverage distribution experience to Old Pal. During his tenure at PepsiCo/Yum! Brands he helped launch the Taco Bell, KFC and Pizza Hut brands around the world by building complex local supply chains and global trade channels. His diverse roles of increasing responsibility include quality assurance, product development, supply chain management, purchasing, engineering and operations. As soon as cannabis was legal in California, Flynn pivoted to the rapidly growing industry and leveraged all of his corporate technical and general management experience to succeed in a consulting COO role at a nascent cannabis aggregator, grower, canner, distributor business in Monterey County. He had significant and immediate impact by increasing daily canning rates by over 400%; implementing an employee piece-rate incentive program, creating job descriptions for all roles, transitioning payroll from cash to direct deposit and implementing Quality, GMP and testing programs. Joe Franciskovich joins Old Pal, as CFO, from Live Nation Entertainment where he served as Deputy CFO to Live Nation's ticketing business, Ticketmaster. Prior to joining Ticketmaster, Joe was a director and investment lead for Steel Partners, LP where he managed the firm's investments in oil & gas, aerospace & defense, entertainment, and cannabis. Prior to Steel, Franciskovich's professional experience includes private equity roles with Platinum Equity, investment-banking roles with Citigroup, and five years active duty as an officer in the US Air Force. Franciskovich brings with him to Old Pal a wealth of experience in navigating venture capital and M&A landscapes, hands-on knowledge of best practices in operational finance, and a leadership presence that sets high expectations for the young team. "Old Pal's success starts with the notion of team," added Old Pal Co-Founder, Jason Osni. "Our vision has always been to create a community where people from different industries can come together, challenge and inspire one another. That is when monumental things happen." ABOUT OLD PAL: Old Pal is a lifestyle cannabis company focused on the value-oriented segment of the market. Through strategic partnerships within the trade, the brand has secured high quality, dependable production and distribution. With the incorporation of culture-focused design and marketing, Old Pal has defined a much-needed new space within the industry; a space curating an accessible lifestyle beyond stoner culture. SOURCE Old Pal LOS ANGELES--(BUSINESS WIRE)-- MedMen Opportunity Fund II, LP (the “Securityholder”), located at 10115 Jefferson Blvd, Culver City, CA 90232, announced today that it disposed of today, by way of distribution in accordance with its constating documents to the partners of the Securityholder, 55,774,145 Class B Common Shares (“Class B Shares”) of MM Can USA, Inc. (“PC Corp”), a subsidiary of MedMen Enterprises Inc. (the “Issuer”), which is located at 10115 Jefferson Blvd, Culver City, CA 90232.
Pursuant to the articles of incorporation of PC Corp and the Support Agreement dated as of May 28, 2018 between the Issuer, PC Corp and MM Enterprises USA, LLC (the “LLC”), and subject to the terms and conditions thereof, such distributed Class B Shares (the “Distributed Shares”) may be redeemed from time to time by the holders thereof for cash or an equivalent number of Class B Subordinate Voting Shares (the “Subordinate Voting Shares”) of the Issuer, with the form of such redemption consideration being at the option of PC Corp. The Distributed Shares represent ownership and control of approximately 37.2% of the Issuer’s issued and outstanding Subordinate Voting Shares on a partially-diluted basis and approximately 10.2% on a fully-diluted basis. The Securityholder currently owns 4,628,469 Class B Shares, representing ownership and control of approximately 4.7% of the Issuer’s issued and outstanding Subordinate Voting Shares on a partially-diluted basis and approximately 0.8% on a fully-diluted basis. 31,321,732 of the 55,774,145 total Distributed Shares (the “Locked Up Shares”) are subject to a lock-up agreement entered into by the Securityholder with PC Corp, pursuant which they are not permitted to be sold, transferred or otherwise disposed of until November 25, 2019, at which time, the restrictions on resale pursuant to such agreement will be immediately lifted as to one-twelfth of the Locked Up Shares and thereafter in increments over an 11-month period as to the remaining Locked Up Shares. As a condition to distributing the Distributed Shares to the Securityholder’s partners, the partners executed acknowledgements pursuant to which they are bound by the terms of such lock-up agreement in respect of the Locked Up Shares. 24,452,413 of the 55,774,145 total Distributed Shares are not subject to such lock-up agreement. The distribution by the Securityholder to its partners of the Distributed Shares was made in connection with the ongoing operations of the Securityholder. For further information, please contact Investor Relations, MedMen Enterprises, at investors@medmen.com. This press release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires a report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters. A copy of this report may be obtained by contacting Investor Relations, MedMen Enterprises, at investors@medmen.com. Source: MedMen Enterprises |
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