Flower One, Owner of the Largest Greenhouse in Nevada, Receives Recreational Cannabis Licenses and Approval to List on the Canadian Securities Exchange (CSE)
Flower One (FONE) will commence trading on Wednesday October 10, 2018
TORONTO, Oct. 9, 2018 /CNW/ – Flower One Holdings Inc. (“Flower One” or the “Company”) is pleased to announce that it has received its recreational marijuana cultivation license and its recreational marijuana production license from the State of Nevada. Receiving both licenses is a crucial step in the Company’s plan to cultivate premium grade cannabis at scale for Nevada’s growing cannabis market, using its 400,000 square foot greenhouse and 55,000 square foot production facility, and leveraging the industry’s leading agricultural technologies, innovative growing methods and top sustainability practices.
We are sharply focused on quickly becoming the leading cannabis cultivator and producer in the state of Nevada. This regulatory milestone now paves the way for Flower One to work towards its targeted annual capacity of 140,000 pounds of dry flower and trim to help meet the growing demand of the Las Vegas and broader Nevada cannabis market.
Ken Villazor, President and CEO of Flower One
In addition, the Company is pleased to announce it has received approval from the Canadian Securities Exchange (“CSE”) for listing its common shares. The Company’s shares will commence trading on the CSE on Wednesday, October 10, 2018 under the symbol “FONE”.
When the Company commences trading, there will be 172,192,279 issued and outstanding common shares in the capital of the Company (the “Common Shares”), no warrants and 7,915,000 outstanding options convertible into the same number of common shares within the Company’s capital structure. As required by the CSE, certain shareholders collectively holding 97,719,900 Common Shares, being 56.8% of the total issued and outstanding Common Shares, have entered into