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LAS VEGAS–(BUSINESS WIRE)–Could 4, 2022–
Flower One Holdings Inc. (“Flower One” or the “Firm”) (CSE: FONE) (OTCQX: FLOOF) (FSE: F11), the main hashish cultivator and producer in Nevada, pronounces immediately that it’ll have a delay within the submitting of its monetary statements for the monetary 12 months ended December 31, 2021, the accompanying administration’s dialogue and evaluation, and certificates of its CEO and CFO (collectively, the “Annual Filings”) till after the deadline.
“Since becoming a member of Flower One on the finish of 2021, I’ve utterly reengineered the group’s total Finance division – together with bringing in new personnel and implementing techniques and processes that guarantee accuracy, effectivity, and optimum efficiency. We’ll proceed to diligently work with our auditors to make sure we report our year-end outcomes as quickly as attainable,” mentioned Araxie Grant, Flower One’s CFO.
The extra time is required to allow the Firm’s auditors, MNP LLP, to finish its evaluation and enquiries in reference to the audit of the Firm’s annual monetary statements. The delay can be partially attributable to (i) logistical challenges associated to the COVID-19 pandemic within the 2021 calendar 12 months and (ii) current adjustments to the Firm’s finance division – together with its CFO and general group. The Firm and its auditors are working diligently, and the Firm intends to make the Annual Filings as quickly as attainable and it expects to make these filings by no later than June 30, 2022, if not sooner.
In reference to this delay, the Firm has utilized and been authorized for a customary administration stop commerce order (the “MCTO”) referring to the buying and selling by the Firm’s CEO and CFO in securities of the Firm from the British Columbia Securities Fee, the Firm’s principal regulator in Canada. The MCTO shouldn’t have an effect on the power of different shareholders to commerce within the securities of the Firm.
The Firm intends to adjust to the provisions of the choice info pointers set out in Nationwide Coverage 12-203 – Administration Stop Commerce Orders by offering bi-weekly updates by the use of press launch till the Annual Filings have been made. Within the interim, till Annual Filings are submitted, administration and different insiders of the Firm are topic to a buying and selling black-out coverage that displays the rules in part 9 of Nationwide Coverage 11-207 – Failure to-File Stop Commerce Orders and Revocations in A number of Jurisdictions.
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 (Cookies, Kiva, Outdated Pal, Heavy Hitters, Raise Ticket’s, The Clear, HUXTON, 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 consists of the Firm’s flagship facility, a 400,000 square-foot high-tech greenhouse and 55,000 square-foot manufacturing facility, in addition to a second website with a 25,000 square-foot indoor cultivation facility and industrial kitchen. Flower One has constructed an industry-leading group targeted on making high-quality hashish accessible to all.
The Firm’s widespread shares are traded on the Canadian Securities Change underneath the Firm’s image “FONE”, in the US on the OTCQX Finest Market underneath the image “FLOOF” and on the Frankfurt Inventory Change underneath the image “F11”. For extra info, go to: https://flowerone.com.
Cautionary Word Relating to Ahead-Trying Info
Statements on this press launch that aren’t statements of historic or present truth represent “forward-looking info” throughout the that means of Canadian securities legal guidelines and “forward-looking statements” throughout the that 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 Firm to be materially completely different from historic outcomes or from any future precise outcomes expressed or implied by such forward-looking statements. Along with statements which explicitly describe such dangers and uncertainties, readers are urged to contemplate statements labeled with the phrases “believes,” “perception,” “expects,” “intends,” “anticipates,” “potential,” “ought to,” “might,” “will,” “plans,” “proceed” or different related expressions to be unsure and forward-looking.
Ahead-looking statements might embody, with out limitation, the timing of the Firm making the Annual Filings; the anticipated absence of an affect on the power of different securityholders to commerce within the Firm’s securities and the Firm’s intention to adjust to the provisions of the choice info pointers; the Firm’s skill to implement techniques and processes throughout the group’s Finance division that guarantee accuracy, effectivity, and optimum efficiency; the Firm’s skill to supply bi-weekly updates by the use of press launch; the Firm’s management as a hashish cultivator, producer, producer, distributor, innovator and full-service model success companion; and the manufacturing of a variety of merchandise for the nation’s top-performing manufacturers.
The forward-looking statements contained on this press launch are expressly certified of their entirety by this cautionary assertion, the “Cautionary Assertion relating to Ahead-Trying Info” part contained the Firm’s administration’s dialogue and evaluation for the three and 9 months ended September 30, 2021 (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 can be described infrequently within the Firm’s public securities filings with the Canadian securities commissions, together with the Firm’s MD&A. Though Flower One has tried to establish 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.
Though the Firm believes that any forward-looking info and statements herein are affordable, in mild of the usage of assumptions and the numerous dangers and uncertainties inherent in such info and statements, there might be no assurance that any such forward-looking info 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 info and statements. Accordingly, readers shouldn’t place undue reliance on forward-looking statements. The forward-looking statements on this press 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 info, 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.
View supply model on businesswire.com:https://www.businesswire.com/news/home/20220429005774/en/
CONTACT: Flower One Investor Relations
ir@flowerone.comKellen O’Keefe, President & CEO
702.660.7775Flower One Media
KEYWORD: NEVADA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: AGRICULTURE NATURAL RESOURCES
SOURCE: Flower One Holdings Inc.
Copyright Enterprise Wire 2022.
PUB: 05/04/2022 08:20 PM/DISC: 05/04/2022 08:21 PM
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