LAS VEGAS & TORONTO–(BUSINESS WIRE)–Flower One Holdings Inc. (“Flower One” or the “Company“) (CSE: FONE) (OTCQX: FLOOF) (FSE: F11), a number one hashish cultivator and producer in Nevada, introduced that additional to its press launch dated April 16, 2021, its utility to its principal regulator, the Ontario Securities Commission, for a customary administration stop commerce order (the “MCTO“) underneath National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“) has been granted. As beforehand introduced, the applying for the MCTO was made by the Company as a way to safe extra time for the Company to file its audited annual monetary statements for the 12 months ended December 31, 2020, the associated administration’s dialogue and evaluation, certificates of its CEO and CFO and its annual data kind (collectively the “Annual Filings“). The MCTO prohibits all buying and selling in securities of the corporate, whether or not instantly or not directly, by the corporate’s CEO and CFO. The MCTO doesn’t have an effect on the flexibility of different shareholders to commerce within the securities of the Company.
In reference to the issuance of the MCTO, and in accordance with its obligation to supply bi-weekly updates underneath the choice data tips set out in NP 12-203, the Company confirms that (i) there was no materials change to the data regarding the corporate’s delay in making the Annual Filings since its information launch on April 16, 2021 that has not been typically disclosed; (ii) there was no failure by the Company in fulfilling its said intentions with respect to satisfying the provisions of the choice data tips set out in NP 12-203; (iii) there has not been some other specified default by the Company underneath NP 12-203; and (iv) there isn’t any different materials data regarding the affairs of the Company that has not been typically disclosed. The Company expects to file the Annual Filings on or earlier than May 28, 2021. During the MCTO, the Company confirms that it’s going to adjust to the provisions of the choice data tips set out in NP 12-203 for so long as it stays in default, together with the issuance of bi-weekly default standing stories, every of which shall be issued within the type of a information launch. The MCTO will stay in impact till the Company information the Annual Filings or the MCTO is in any other case revoked or assorted.
About Flower One Holdings Inc.
Flower One is the biggest hashish cultivator, producer, and full-service model achievement associate within the state of Nevada. By combining greater than 20 years of greenhouse operational excellence with best-in-class hashish operators, Flower One affords constant, dependable, and scalable achievement 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 at present 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 consists of 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 business kitchen. Flower One has constructed an industry-leading crew targeted on changing into the primary high-quality, low-cost model achievement associate.
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.
Cautionary Note Regarding Forward-Looking Information Statements on this press launch that aren’t statements of historic or present truth 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 involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from historical results or from any future actual results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue” or different related expressions to be unsure and forward-looking.
Forward-looking statements could embody, with out limitation, the date by which the Company intends to make the Annual Filings, the anticipated absence of an influence on the flexibility of different securityholders to commerce within the Company’s securities and the Company’s intention to adjust to the provisions of the choice data tips.
The forward-looking statements contained on this press launch are expressly certified of their entirety by this cautionary assertion and the “Forward-Looking Statements” part contained within the Company’s administration’s dialogue and evaluation for the 9 and three months ended September 30, 2020 (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 typically to assumptions and dangers and uncertainties which are described every now and then 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 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 supposed.
Although the Company believes that any forward-looking data and statements herein are cheap, in gentle of the usage of assumptions and the numerous dangers and uncertainties inherent in such data and statements, there will be no assurance that any such forward-looking data and statements will show to be correct, and accordingly readers are suggested to depend on their very own analysis of such dangers and uncertainties and shouldn’t place undue reliance upon such forward-looking data and statements. 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 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 legislation.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR THEIR REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.