TORONTO & LAS VEGAS–()–Second paragraph, first sentence ought to learn: The mixture curiosity fee due on December 31, 2020 is CDN$2,457,983, and as of at the moment’s date, the combination principal quantity excellent on the Debentures is US$38.three million. (as a substitute of: The mixture curiosity fee due on December 31, 2020 is CDN$2,457,983, and as of at the moment’s date, the combination principal quantity excellent on the Debentures is US$28,194,970.)

The up to date launch reads:

FLOWER ONE PROVIDES UPDATE ON CONVERTIBLE DEBENTURE INTEREST PAYMENT

Flower One Holdings Inc. (“Flower One” or the “Company”) (CSE: FONE) (OTCQX: FLOOF) (FSE: F11), a number one hashish cultivator, producer and innovator in Nevada, introduced at the moment that it doesn’t intend to make the relevant curiosity funds due on December 31, 2020 associated to its Unsecured Convertible Debentures issued in March 2019 and November 2019 (collectively the “Debentures“).

The mixture curiosity fee due on December 31, 2020 is CDN$2,457,983, and as of at the moment’s date, the combination principal quantity excellent on the Debentures is US$38.three million. All of the Debentures bear curiosity at 9.5%. Under the phrases of the Debentures, the Company has 30 days from the curiosity fee due date to pay the curiosity, earlier than there will likely be an occasion of default underneath the Debentures.

The Company continues to pursue a spread of financing options, and has decided that it’s prudent for the Company to protect money within the brief time period pending additional details about the supply and phrases of any such options. In this regard, the Board of Directors has shaped a particular committee comprised of unbiased administrators to pursue and take into account varied options.

About Flower One Holdings Inc.

Flower One is the biggest hashish cultivator, producer, and full-service model success companion within the state of Nevada. By combining greater than 20 years of greenhouse operational excellence with best-in-class hashish operators, Flower One provides constant, dependable and scalable success to a rising variety of industry-leading hashish manufacturers. Flower One presently produces a variety of merchandise starting from wholesale flower, full-spectrum oils, and distillates to completed shopper packaged items together with: flower, pre-rolls, infused pre-rolls, concentrates, edibles, and topicals for the top-performing manufacturers in hashish. Flower One’s flagship, 400,000 square-foot greenhouse and 55,000 square-foot manufacturing facility is used for large-scale hashish cultivation, processing and manufacturing. Flower One additionally operates a second manufacturing facility with 25,000 square-feet of indoor cultivation and a industrial kitchen that produces a number of of the nation’s top-performing edible manufacturers.

The Company’s frequent shares are traded on the Canadian Securities Exchange underneath the Company’s image “FONE,” within the United States on the OTCQX Best Market underneath the image “FLOOF” and on the Frankfurt Stock Exchange underneath the image “F11.” For extra data, go to: https://flowerone.com.

Forward Looking Statement

Statements on this press launch that aren’t statements of historic or present reality represent “forward-looking information” throughout the which means of Canadian securities legal guidelines and “forward-looking statements” throughout the which means of United States securities legal guidelines (collectively, “forward-looking statements”). Such forward-looking statements contain identified and unknown dangers, uncertainties, and different unknown components that might trigger the precise outcomes of the Company to be materially completely different from historic outcomes or from any future precise outcomes expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such dangers and uncertainties, readers are urged to contemplate statements labeled with the phrases “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue” or different comparable expressions to be unsure and forward-looking.

Forward-looking statements might embrace, with out limitation, statements referring to the Company’s means to finish a financing, the flexibility of the Company to pay Debenture curiosity, the Company’s management as a hashish cultivator, producer, innovator and full-service model success companion; the Company’s means to supply constant, dependable and scalable success to its model companions; and the manufacturing of the nation’s top-performing edibles manufacturers.

The Company is not directly concerned within the manufacture, possession, use, sale and distribution of hashish within the leisure and medicinal hashish marketplaces within the United States by means of its subsidiary Cana Nevada Corp. Local state legal guidelines the place Cana Nevada Corp. operates allow such actions; nevertheless, these actions are presently unlawful underneath United States federal regulation. Additional data relating to this and different dangers and uncertainties referring to the Company’s enterprise are contained underneath the heading “Risk Factors” within the Company’s Management Discussion and Analysis dated September 30, 2020 (the “MD&A”) filed on its issuer profile on SEDAR at www.sedar.com.

The forward-looking statements contained on this press launch are expressly certified of their entirety by this cautionary assertion, the “Cautionary Statement regarding Forward-Looking Information” part contained within the MD&A. All forward-looking statements on this press launch are made as of the date of this press launch. The forward-looking statements contained herein are additionally topic usually to assumptions and dangers and uncertainties which can be described once in a while within the Company’s public securities filings with the Canadian securities commissions, together with the Company’s MD&A.

Although Flower One has tried to determine necessary components that might trigger precise outcomes, efficiency or achievements to vary materially from these contained within the forward-looking statements, there might be different components that trigger outcomes, efficiency or achievements to not be as anticipated, estimated or meant, together with, however not restricted to: dependence on acquiring regulatory approvals; investing in goal firms or tasks which can be engaged in actions presently thought of unlawful underneath United States federal regulation; modifications in legal guidelines; restricted working historical past; reliance on administration; necessities for extra financing; competitors; hindering market development and state adoption as a result of inconsistent public opinion and notion of the medical-use and adult-use marijuana {industry} and; regulatory or political change.

Accordingly, readers shouldn’t place undue reliance on forward-looking statements. The forward-looking statements on this information launch are made as of the date of this launch. Flower One Holdings disclaims and doesn’t undertake any intention or obligation to replace or revise any such forward-looking statements, whether or not because of new data, future occasions or in any other case, besides as required by relevant regulation.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR THEIR REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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