LAS VEGAS & TORONTO–()–Flower One Holdings Inc. (“Flower One” or the “Company”) (CSE: FONE) (OTCQX: FLOOF) (FSE: F11), a number one hashish cultivator and producer in Nevada, is happy to announce as we speak that a number of distributors have agreed to transform their debt into fairness shares of Flower One. These transactions are a part of the Company’s restructuring plan that was launched in late January, when the Company introduced numerous monetary and operational restructurings – together with the receipt of US$10.1M on convertible-debt funding.

We are very grateful for the support of our partners and their continued belief in Flower One. These conversions allow us to reduce our overall debt and better position the company for future success,” stated Kellen O’Keefe, Flower One’s President and Interim Chief Executive Officer. “Additional vendors have also conveyed interest in converting all or part of their debt balances to equity in the coming weeks.”

About Flower One Holdings Inc.

Flower One is the biggest hashish cultivator, producer, and full-service model success accomplice 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 (Cookies, Kiva, Old Pal, Heavy Hitters, Lift Ticket’s, The Clear, and Flower One’s main in-house model, NLVO, and extra). Flower One presently produces a variety of merchandise from flower, full-spectrum oils, and distillates to completed shopper packaged items, together with a wide range of: pre-rolls, concentrates, edibles, topicals, and extra for top-performing manufacturers in hashish. Flower One’s Nevada footprint contains the Company’s flagship facility, a 400,000 square-foot high-tech greenhouse and 55,000 square-foot manufacturing facility, in addition to a second web site with a 25,000 square-foot indoor cultivation facility and industrial kitchen. Flower One has constructed an industry-leading workforce centered on turning into the primary high-quality, low-cost model success accomplice.

The Company’s widespread shares are traded on the Canadian Securities Exchange beneath the Company’s image “FONE”, within the United States on the OTCQX Best Market beneath the image “FLOOF” and on the Frankfurt Stock Exchange beneath the image “F11”. For extra info, go to:

Cautionary Note Regarding Forward-Looking Information Statements on this press launch that aren’t statements of historic or present reality represent “forward-looking information” inside the which means of Canadian securities legal guidelines and “forward-looking statements” inside the which means of United States securities legal guidelines (collectively, “forward-looking statements”). Such forward-looking statements contain recognized 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 related expressions to be unsure and forward-looking.

Forward-looking statements might embrace, with out limitation, the itemizing of the Warrants, and the Warrant Shares of the Company issuable upon the train of the Warrants on the CSE; using proceeds; the Company’s management as a hashish cultivator, producer, innovator and full-service model success accomplice; the Company’s capability to supply constant, dependable and scalable success to a rising variety of industry-leading model companions; and the manufacturing of a variety of merchandise for the nation’s top-performing 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 its subsidiary Cana Nevada Corp. Local state legal guidelines the place Cana Nevada Corp. operates allow such actions; nonetheless, these actions are presently unlawful beneath United States federal regulation. Additional info relating to this and different dangers and uncertainties regarding the Company’s enterprise are contained beneath the heading “Risk Factors” within the Company’s Annual Information Form dated June 23, 2020 (the “Annual Information Form”).

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 Annual Information Form and the Prospectus Supplement. 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 typically to assumptions and dangers and uncertainties which might be described infrequently within the Company’s public securities filings with the Canadian securities commissions, together with the Company’s Annual Information Form and the Prospectus Supplement.

Although Flower One has tried to determine essential components that might trigger precise outcomes, efficiency or achievements to vary materially from these contained within the forward-looking statements, there will 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 corporations or tasks which might be engaged in actions presently thought-about unlawful beneath United States federal regulation; adjustments in legal guidelines; restricted working historical past; reliance on administration; necessities for added financing; competitors; hindering market progress and state adoption attributable to inconsistent public opinion and notion of the medical-use and adult-use marijuana {industry} and; regulatory or political change.

Accordingly, readers mustn’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 disclaims and doesn’t undertake any intention or obligation to replace or revise any such forward-looking statements, whether or not on account of new info, future occasions or in any other case, besides as required by relevant regulation.


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