Vancouver, British Columbia--(Newsfile Corp. - October 12, 2018) - Flower One Holdings (CSE: FONE) is the latest new listing on the Canadian Securities Exchange, following a reverse take over with Theia Resources Ltd., which previously traded on the TSX Venture Exchange.
The company, though its subsidiary operations, is licensed for medical marijuana cultivation and production, and recreational marijuana cultivation and production in the state of Nevada.
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With the largest commercial scale greenhouse in the State of Nevada, Flower One aims to leverage the industry's leading agricultural technologies, utilizing innovative growing and sustainability practices to cultivate high-quality cannabis at scale for Nevada's growing cannabis market. Once canopied, which is targeted for the first quarter of 2019, the company will be the largest cultivator and producer of cannabis in the State of Nevada with 400,000 square feet of greenhouse cultivation space and an additional 55,000 square feet dedicated to processing, production and high-volume packaging of dry flower, cannabis oils, concentrates and infused products.
Ken Villazor, President and CEO, stated: "Over the past ten months, Flower One has demonstrated to its shareholders the Company's ability to execute on our overall business plan. There have been a series of successive and very significant milestones achieved in a very short timeframe, but today's commencement of trading on the CSE is a pivotal moment for Flower One."
The company recently entered into agreements with NLV Organics, Inc. and related parties to purchase a 100% interest in a property in North Las Vegas, Nevada, and all of NLV's tangible and intangible assets. This fully operational 25,000 square foot cultivation and production facility is fully licensed to grow and process cannabis for both the medical and recreational markets in Nevada and with nine grow rooms it is capable of cultivating a total of 4,500 plants per cycle. This acquisition also brings to Flower One a team of experienced cultivators and producers and therefore immediate understanding of post-harvest production techniques and supply relationships to over 30 operating dispensaries in the state.
Ken Villazor, further stated: "This transaction is more than an acquisition, it is a true partnership that strengthens Flower One's business model and our ability to tightly execute market entry in Nevada. We have worked closely with NLVO's founders and management for several months. The collaboration and knowledge transfer between our organizations has been exceptional and, for Flower One, has validated how accretive this acquisition will be for our company and our shareholders."
In September, the company raised $57.4 million in a private placement, bringing the company's total financings to $92.1 million.
For more information, please visit the company's website www.FlowerOne.com, contact Ken Villazor, President and CEO at 416-913-9642 or email email@example.com. Investor relations is handled by National Equicom, which can be reached at 416-848-9835 or by email firstname.lastname@example.org.
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