Le Lézard
Subject: MAT

Flower One Provides Corporate Updates and Announces Date for Fourth Quarter 2019 Earnings Conference Call


TORONTO and LAS VEGAS, March 9, 2020 /CNW/ - Flower One Holdings Inc. (the "Company") (CSE: FONE) (OTCQX: FLOOF) (FSE: F11), a leading cannabis cultivator, producer and innovator in Nevada, today announced unaudited preliminary fourth quarter and full year 2019 revenue results, initiated revenue guidance for the first quarter of 2020 and provided additional business updates. Please note that all figures listed in this release are in U.S. dollars unless otherwise noted.

"Through exceptional execution and adherence to our strategic long-term growth plan, we exceeded our revenue expectations for 2019 based upon our preliminary numbers for the year," said Ken Villazor, Flower One's President and Chief Executive Officer. "Our focus and proven proficiencies in large-scale cultivation, manufacturing and distribution differentiate Flower One from other cannabis companies. It has been just over seven months since our first sale of product out of our flagship Nevada greenhouse facility. In that short period of time, we've gained an overwhelming amount of knowledge of and data on cannabis cultivation, extraction and inventory management as well as on compliance, product launches and retail distribution. Through this learning experience, we've accumulated a vast amount of proprietary know-how that will continue to position us well in the competitive cannabis space going forward."

Kellen O'Keefe, Flower One's Chief Strategy Officer, added, "Our brand portfolio continues to grow. The strength of our brands has provided us an entry point into almost every dispensary in the State, with retail penetration topping 95%. We are also seeing an increased number of white label brands interested in leveraging our unique capabilities. We are excited about both our pace of sales and our brand partners launched to-date, and over the coming months, we will continue to direct our efforts on delivering industry-leading performance."

Operational Highlights:

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Brand Partner Highlights:

Corporate Highlights:

Q1 2020 Guidance

ROTH Conference

Flower One management will be presenting at the 32nd Annual ROTH Conference in Laguna Niguel, California. Management will be presenting at 10 a.m. PT on Tuesday, March 17th as well as hosting meetings with investors throughout the day.

Q4 and FY 2019 Earnings Conference Call

Flower One also announced today that it will release its 2019 fourth quarter and year-end financial results after market close on Wednesday, April 15, 2020. The Company will host a conference call on Thursday, April 16, 2020 at 8:30 a.m. ET to review its financial results. To join the conference call, please dial 647-427-7450 or 1-888-231-8191. A live audio webcast of the call will be available at http://bit.ly/FONE-Q4-2019. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast.

For those unable to join the live call, a replay will be available until Thursday, April 30, 2020. To access the archived conference call, please dial 1-855-859-2056 and enter the conference code 3257949. An archived replay of the webcast will be available online for 90 days.

About Flower One Holdings Inc.

Flower One is the largest cannabis cultivator, producer, and full-service brand fulfillment partner in the state of Nevada. By combining more than 20 years of greenhouse operational excellence with best-in-class cannabis operators, Flower One offers consistent, reliable, and scalable fulfillment to a growing number of industry-leading cannabis brands. Flower One's flagship 400,000 square-foot greenhouse and 55,000 square-foot production facility is used for large scale cannabis cultivation, processing, and manufacturing. Flower One also owns and operates a second production facility in Las Vegas, with 25,000 square-feet of indoor cultivation and a commercial kitchen that will produce several of the nation's top-performing edible brands. Flower One produces a wide range of products ranging from wholesale flower, full-spectrum oils, and distillates to finished consumer packaged goods including flower, pre-rolls, concentrates, edibles, and topicals for the top-performing brands in cannabis.

The Company's common shares are traded on the Canadian Securities Exchange under the Company's symbol "FONE", in the United States on the OTCQX Best Market under the symbol "FLOOF" and on the Frankfurt Stock Exchange under the symbol "F11".  For more information, visit: https://flowerone.com.

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact constitute "forward-looking information" within the meaning of Canadian securities laws and "forward-looking statements" within the meaning of United States securities laws (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 other similar expressions to be uncertain and forward-looking.

Forward-looking statements may include, without limitation, statements relating to the Company's ability to close any offering of securities in connection with the filing of the Shelf Prospectus; the Company's leadership as a cannabis cultivator, producer and full-service brand fulfillment partner; the Company's ability to offer consistent, reliable and scalable fulfilment to its brand partners; and the production of the nation's top-performing edibles brands.

The Company is indirectly involved in the manufacture, possession, use, sale and distribution of cannabis in the recreational and medicinal cannabis marketplaces in the United States through its subsidiary Cana Nevada Corp. Local state laws where Cana Nevada Corp. operates permit such activities; however, these activities are currently illegal under United States federal law. Additional information regarding this and other risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in the Company's Shelf Prospectus dated September 27, 2019 filed on its issuer profile on SEDAR at www.sedar.com.

The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement, the "Cautionary Statement regarding Forward-Looking Information" section contained in the Shelf Prospectus. All forward-looking statements in this press release are made as of the date of this press release. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company's public securities filings with the Canadian securities commissions, including the Company's Shelf Prospectus.

Although Flower One has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects that are engaged in activities currently considered illegal under United States federal law; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Flower One Holdings disclaims and does not undertake any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Flower One Holdings Inc.



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