Flower One Announces Record Quarterly Revenue as the Top Flower Producer in the State of Nevada

First Quarter 2021 Guidance Reflects Record-Breaking Company Performance Following Successful Restructuring

NEVADA & CANADA:  Flower One Holdings Inc., the leading cannabis cultivator and producer in Nevada, is pleased to announce its record-breaking first quarter 2021 performance, including unaudited preliminary first quarter revenue guidance and operational highlights the Company has achieved in 2021 thus far.

“We are extremely proud of our team and the tremendous collaborative effort put forth by so many to successfully restructure Flower One and become the top producer in Nevada,” said Kellen O’Keefe, Flower One’s President and Interim CEO. “For us to have accomplished what we have under the circumstances was nothing short of remarkable and something our entire team can be very proud of. As a company, we have never been in a stronger position and will emerge from the pandemic a different company on an entirely new trajectory. We continue to break records month after month, ending April with all-time high monthly sales and the highest average selling price per pound in our company’s history. We are extremely well positioned for future growth as Vegas comes back online; and, we welcome the first Cookies store to the strip this week.”

First Quarter 2021 Performance Highlights:

  • The Company announces its first quarter 2021 preliminary unaudited revenue guidance of more than USD$13.5M, representing a record revenue quarter for the Company, surpassing the Company’s previous record revenue quarter of USD$11.9M in the third quarter of 20201.
  • As of March 2021, the Company is now the top flower provider in the state of Nevada, recognizing both the number one (Cookies) and number two (NLVO, the Company’s in-house brand) as top-selling flower brands in the state2;
  • In addition to holding the two top-selling flower brands, the Company is also the leading producer of distillate, bulk and white label flower sales in the state of Nevada;
  • The Company’s yielding cultivation analytics are reported up to 135.7 grams per plant through the first quarter of 2021, at an average cost per gram of USD$0.58. The Company has historically has reported its average cost per gram to be between USD$0.40-0.69;
  • Through updates to its post-harvesting process (drying, curing, trimming and packaging), the Company has recognized over 300% growth in its processing capacity in the first quarter of 2021, in comparison to fourth quarter of 2020.

1 The Company expects to announce the date for its filing of the fiscal 2020 year and first quarter 2021 in the coming weeks.
2 Data from BDS Analytics (BDSA) from January, February and March 2021.

Completion of Debt Restructuring:

The Company announced, on April 14, 2021, the approval of its convertible debenture resolutions and corresponding debenture amendments (the “Debentures”). As a result of the approved amendments, the Company has exercised its right (the “New Conversion Right”) to convert 60% of the principal amount of the Debentures for units comprised of one common share and ⅚ of a warrant (each, a “Unit”) – resulting in the total principal amount of the 9.5% unsecured debentures due March 28, 2022 being reduced from CAD$42,471,000 to CAD$16,988,400; and, the total principal amount of the 9.5% unsecured convertible debentures due November 15, 2022 being reduced from CAD$9,276,000 to CAD$3,710,400.

 

AFC Gamma Provides Justice Cannabis Co. With $22 Million Senior Secured Credit Facility to Fund its New Jersey Expansion

FLORIDA:  AFC Gamma, Inc. announced it has provided a credit facility of $22 million to Justice Cannabis Co., a Chicago-based multi-state operator with licenses in eight states. The credit facility is designed to provide Justice Cannabis Co. with the capital necessary to purchase and complete the build out of its 72,000 square foot cultivation and processing facility, along with the buildout of a dispensary, both in Ewing, New Jersey.

“We are pleased to support Justice Cannabis Co. as it continues to expand its operations in New Jersey,” said Leonard M. Tannenbaum, AFC’s Chief Executive Officer. “With adult use marijuana recently legalized in the state, we believe New Jersey will have favorable supply and demand dynamics for years to come and we are excited to be working with Justice Cannabis Co. in order to fully capitalize on this growing market.”

Jon Loevy, Justice Cannabis Co.’s Founder, added, “As we continue building on our presence in this highly attractive cannabis market, we are very excited to have the support and partnership of AFC. AFC has proven investment expertise in the cannabis space and provided us with an institutionally minded financing solution that supports our specific needs. We look forward to continuing to work with AFC to achieve our objectives.”

AFC will hold the entire $22 million of the credit facility, which consists of a first-lien term loan. The loan is secured by first-lien mortgages on Justice Cannabis Co.’s wholly owned real estate properties in New Jersey and other commercial-security interests. AFC Management, LLC served as Lead Arranger and Administrative Agent for the transaction.

New Jersey Cannabis Snapshot
New Jersey legalized the use of medical marijuana in 2010, with sales launching in 2019. Adult use marijuana was legalized in 2021. By 2024, the state expects to achieve sales of between $850 million and $950 million, with significant opportunities to exceed this range, depending on licensing details which will be developed over time.

Columbia Care Brings Scale To New York Cannabis Program Through Acquisition Of One Of The Largest Operating Greenhouse Sites On East Coast

New site expands Columbia Care’s cultivation and production footprint by approximately 1M square feet; offers flexibility to scale with increasing market demand; supports potential use for future social equity partnerships and adult-use sales

 

NEW YORK: Columbia Care Inc. announced today it has acquired a 34-acre cultivation site in eastern Long Island, New York. The Company’s first harvest and sales from this property for the state’s medical marijuana program is expected in Q4 2021, pending regulatory approvals.

The Long Island location offers supplemental cultivation and manufacturing capacity for Columbia Care’s existing Rochester facility that has served New York’s more than 120,000 medical cannabis patients since 2015, to meet the demand of a growing medical market, which, subject to regulatory approval, will include a number of newly approved additional form factors, including flower, in 2021. The new site also allows the Company to diversify its operations and open opportunities to create potential social equity business partnerships; a dedicated, federally-licensed global medical cannabis manufacturing and research hub in Rochester; and support the company’s entrance into the state’s adult-use program.

This facility currently has approximately 740,000 square feet of operational greenhouse space, which the Company plans to acquire upon phase two of the transaction, with 200,000 square feet of incremental grow capacity, situated perfectly for both retail distribution to Columbia Care’s three NYC and Long Island dispensaries and wholesale distribution to the most densely populated metropolitan area in the United States. The property’s infrastructure is fully developed for industrial scale and throughput and is currently used for growing ornamental flowers. Additionally, the existing owners have previously planted and successfully harvested industrial hemp on-site.

“As a company whose roots are in New York, it has been incredibly important that we build a scalable, vertically-integrated operation in the state that not only delivers the very best quality and prices to our patients and partners today, but also ensures that we can continue to deliver on our mission to New Yorkers through future legal cannabis programs. This is a commitment to our patients, communities, regulators, elected officials and social equity partners that we are here for the long term and intend to be the leaders who define cannabis in New York State – made in New York, by New Yorkers for New Yorkers,” said Nicholas Vita, CEO of Columbia Care. “We are eager to see New York’s regulated market emerge as one of the top global cannabis markets, with some market size estimates exceeding $5B by 2025 and more than 75,000 jobs created by 2027. We intend to continue to invest in opportunities that support this growth for all.”

Columbia Care will pay a total purchase price of $42.5M, which includes $15.0M in cash and $27.5M in Columbia Care stock. The initial payment of $30.0M has been made. The remaining $12.5M in stock payment will follow in August 2021 upon completion of the second phase of the transaction.

Speakeasy Cannabis Club Releases Short Film On Canadian Farming Legacy

CANADA: SpeakEasy Cannabis Club has released a powerful new short film documenting the storied history of the Geen family, the generational farmers who founded the Okanagan based cannabis company. From cherries, apples, ginseng to peaches, and now cannabis, SpeakEasy Founder, Marc Geen, and his family are pioneers of agriculture with more than a century of farming experience in the region.

Directed and shot by documentary filmmaker, Simon Schneider (from CBC’s The Nature of Things), the six minute short film highlights over one hundred years of hard-earned farming principles passed down through five generations of the Geen family. From the humble beginnings of Marc’s great grandfather, Charles Howard Geen, who came to Kelowna, B.C. in 1903 and started growing fruit trees, to the purchase of 2200 acres of land in Rock Creek, B.C.’s fertile “Golden Mile”, in 1995, where the family has successfully farmed for four generations, to Merv Geen’s critical participation in SunRype’s success as a former Chairman-of-the-board, and to founding SpeakEasy in 2013, the film illustrates the foundation in which a true agricultural legacy is built and what has set SpeakEasy apart from other licensed cannabis producers.

As the film shows, it’s not only hard work and agricultural experience that have laid the foundation for SpeakEasy to cultivate what is set to be the best product on the market. It’s also the farmer’s keen sense of selecting the perfect site and land to grow on.

“The Golden Mile is one of the most fertile areas in Canada as it’s a perfect climate with tons of sunshine, lots of heat, cool at the right times, not too extreme and very little rain. The land is beautiful for growing cannabis.” says Marc Geen, Founder of SpeakEasy. Licensed producers made a massive assumption that simply getting on the shelf would lead to success. Cherries are one of the hardest crops to harvest, cannabis is no different. Agriculture at this level is an art and these consumers are no different than wine connoisseurs, you simply can’t cut corners.”

After a long journey to build the necessary infrastructure and getting the licensing approval through Health Canada, the Geen name is about to put its stamp on a new crop. SpeakEasy will make history cultivating one of the largest outdoor cannabis harvests in Canada this September. SpeakEasy expects to harvest 70,000 kg of sun-grown cannabis at a projected $0.04 a gram this fall, with the same methods and climate Canada is world-renowned for.

The SpeakEasy Family Legacy short film is available to stream now through YouTube:
https://youtu.be/jjoCGYM5024

Four Things To Know Before Growing Marijuana For Business

Every business is potentially profitable, if know how to operate it. The most important quality you need to have as a businessman is the love for the work you do. It’s not a myth or quote by some old man. All experienced businessmen believe that you are unlikely to fail if you love your business. The love for CBD is constantly increasing, and so its usage. Most of those people will buy it and some smart people will grow it.

It’s not as difficult as you might think. There are already many people doing the same thing, but the demand is so high that you are unlikely to fail in this industry. You can learn everything online and get to farm a thing you love. You won’t just be doing it for the money. It will have your heart in it, and you will always try to grow the best possible product. Here are a few things you should know before getting started to help you along the way.

Make Sure You Know Everything About Marijuana

While love is important, knowledge has no replacement. You need to learn everything you can about growing marijuana and the dos and don’ts before making any investments. If you think that you will learn on the job, you are not wrong. However, each lesson comes at a cost. That’s why it’s best to learn all these things before taking any step.

Pick the Best Strains

For the best product, you are going to need the best strains. You need two things for that—a reliable best seed bank and full knowledge of its types and qualities. Be sure to choose the strains that best fit your growing space. Choose a seed bank only from the top ones and build long term professional relationship with it to ensure your business grows smoothly.

Know Your Light Needs

Cannabis plants need a lot of light. You have to specially plan their power needs if you are growing in an indoor space. They need 400W to 600W of light for about 18 hours every day. You will need to buy the best quality lights and other electrical equipment like extractor and fans. Many residential power circuits can’t support more than 1500W, so you will have to take decisions accordingly.

Plan Finances in the Business Plan

Every business needs money to run. You will start to get a profit that you can reinvest later, but you will have to arrange a lot of finances at the beginning. It is suggested to create a full-fledged business plan and answer all questions of all categories after doing thorough research and brainstorming. This will help you efficiently plan your finances. Once you know exactly how much money you need, you can get to the struggles of arranging it. You can easily get a loan when you are sure to get the return according to your business plan.

5 Interesting Things That You Need to Know If You Want To Grow Cannabis

Scientists all around the world have worked hard to document the medical benefits of cannabis. Needless to say that they have been really successful so far. It is one of the leading reasons that the world is moving towards the full legalization of  cannabis. Medical marijuana is now legal in most of the states in the United States of America. In some states, even recreational marijuana is legal.

What if I tell you that you can grow your own cannabis if it’s legal in your state? Yes, you heard it right. All you need to have is a license, and you’ll be all set to grow your own weed. However, there are a few things that you need to know before you plan on growing your own weed.

Here you go:

Male And Female Plants Have Different Properties

Just like many other plants, the cannabis plant also has male and female characters. The best part is that you can identify them without being an expert on cannabis plants. signs of a male cannabis plant are visible and can easily be identified. So, before you plan to grow your own, make sure that you know everything about male and female plants.

There Are Different Types Of Seeds

It is something that most people don’t know. Not only cannabis plants have different strains, but their seed types also differ. You can get both unfeminine and feminized seeds based on your requirements. So, before you make any seed purchases, make sure that you are getting the right kinds of seeds.

There’s A Variety Of Growing Methods

Unlike other plants, you can grow a cannabis plant both indoors and outdoors. However, the equipment for both growing methods is different, and the results may also differ. Therefore, you need to have detailed knowledge of each method before you select one for yourself. Another factor that you need to take into account is the space that you have. The method of growing the cannabis plant highly depends on the kind of space you have to grow it. So, you need to analyze everything before you choose to ensure the maximum growth of the plants.

Cannabis Plant Gives Signs Of Everything

You need to have a great deal of knowledge about the nutritional requirements of the plant. Cannabis plants need a very balanced amount of nutrition. Something as small as overwatering can halt the growth of the plant. The good news is that you can see all the symptoms of the growth requirements of the plants from how it looks.

It Can Be Very Expensive

Lastly, you need to know that growing cannabis can be very expensive. You may think that since you are growing your own weed, it is going to cost less. However, this is not the case. So, if you are growing it for business purposes, you need to make sure that you evaluate the cost before starting the project.

4 Plants You Need To Grow In 2020 To Make Big Money

We all need to make money to survive. Some ways of making money are more comfortable when compared to others. If you’re someone who wouldn’t like to work a nine-hour shift to bring home money, then this article is perfect for you. Allow us to apprise you of 4 plants you can grow in your backyard or garden that will help you win your bread and butter with no hardship involved.

Mushrooms

Mushrooms are not only delicious but very profitable too. The two most famous gourmet mushrooms that are lucrative are shiitake and oyster. These two mushrooms can be found in markets, both dry and fresh. A great advantage is that you can grow these two exotic mushrooms in your home without the need for fertile soil. You can grow them on waste products like sawdust or coffee grounds. Fortunately, it only takes 6-8 weeks for the mushrooms to mature. Hence you can earn quickly off them. Currently, these gourmet mushrooms for $7 a pound. This will equal to $17,000 in a 10×10 space! Imagine making such an income from growing fungi right at home.

Marijuana

Marijuana is probably equivalent in status to the ‘rose.’ Everyone knows about it, and everyone has a love for it. Believe it or not, people are growing marijuana at home. Marijuana can earn you some big money. One reason is that you can sell it or use it for your own recreational or medicinal benefit. There are several strains of marijuana, as well. We suggest you plant a strain at home that is high in demand, such as OG Kush, Pineapple Express, Bruce Banner, White Widow, Orange Sherbet, and more. Visit the ILGM blog to get to know more about how to grow marijuana at home.

Any or Every Herb

Herbs have been used for thousands of years for medicinal purposes. Herbs like thyme, cardamom, cumin, coriander, rosemary, basil, and many more are viral. These herbs are used in Indian, Italian, Moroccan, and Latin American cuisines so you can imagine their popularity. Without these herbs, the savory taste of dishes belonging to each cuisine will not be the same. Apart from cooking, herbs are excellent in providing medicinal benefits. For example, lavender is used in aromatherapy since it promotes wellness and calmness. Start by growing oregano, parsley, basil, and mint in your garden or kitchen since they are the easiest to grow.

Garlic

Garlic has voted in the top 10 most sought after vegetables in the world. Now you shouldn’t grow just any garlic in your backyard – you need to grow ‘gourmet garlic.’ Gourmet garlics have bulbs that are uniform in shape and large in size. There are three types of gourmet garlic: rocambole, purple stripe, and porcelain. The flavor of such garlic is savory, which explains why they are in demand in fancy restaurants. This intense flavor also sets them apart from the ordinary garlic. Growing such garlic in your home can help you make $8-$10 per pound!

 

Beneficial Medical Cannabis Goes Mainstream With Online Seed Sales

Cannabis is widely considered a medical plant because of the many significant health benefits it brings. It has long been used for medicinal purposes worldwide, and has become a very popular trend in the United States, which has resulted in its legalization in more than 30 states.

Internationally, more and more countries have legalized cannabis consumption due to its therapeutic and medical use. In fact, there has been a lot of research that has demonstrated the benefits that can be obtained by consuming it. One of its main benefits is that it helps eliminate pain, especially chronic pain. Also, smoking cannabis can lead to the complete elimination of the need for more harmful drugs.

Likewise, its use is effective in: possible treatment of glaucoma, since it helps relieve intra-ocular pressure, helping to control epileptic seizures in children and young people, minimizing the development of breast cancer, it has beneficial effects on neurodegenerative diseases, the treatment of post-traumatic stress and schizophrenia, among others.

Cannabis is a plant that offers many benefits, but it also has a potential for risk and negative effects. Like all medications, safety depends on the way it is used. It should be noted that some users report that cannabis use impacts concentration and memory. However, based on studies, it is known that these negative effects are not permanent and disappear after you stop using it.

Given the potential of the benefits that can be obtained with its use, it is no wonder that cannabis use is widespread today. In addition to the thousands of dispensaries that have sprouted across the US, many patients are also growing their own. It is easy to buy seeds online, a way to quickly and safely acquire the best cannabis and with the best degree through discreet delivery methods.

Currently, the purchase of medical cannabis is legal in 33 states, and its online purchase has become popular in several of these states. First Step: Learn about the laws that govern your country and region to verify that it is legal to order, before you to make your purchase from the comfort of your home.

Washington State Year One Canopy Report Available Online

WASHINGTON:  The Washington State Liquor and Cannabis Board Year One Canopy Report is now available on the LCB website.

The Year One Canopy Report was completed to reflect the results of a canopy survey. The canopy survey was developed at the request of LCB board members in the fall of 2017. The Canopy Project focused on the collection of relevant data from all producers, with an analysis of licensed space utilization.

LCB Canopy Report

During the first year, the Canopy Team attempted to survey 1,155 licensees. The team completed 792 surveys, encountered 254 licensees that reported no canopy, and was unable to survey 109 licensees. The 792 completed surveys consisted of 778 staff surveys and 14 drone surveys. The data indicates that, on average, both indoor and outdoor canopy space is underutilized. The team did encounter licensees producing above their allotted licensed canopy space, however those observations were a small percentage of all observations.

Detailed results and interpretation are available in this report.

Avitas Releases Unicorn Glitter For Pride

WASHINGTON: Avitas, a leading cannabis producer/processor located in the Pacific Northwest, has announced the release of  a new oil blend created just for Pride, Unicorn Glitter that is full of double rainbows, unicorn laughs, glitter hearts, and of course, love. All throughout June, Avitas is donating a percentage of Unicorn Glitter to Equal Rights Washington and Basic Rights Oregon, two organizations doing important work for the rights and well-being of the LGBTQ community in Washington and Oregon.

“Avitas is a company dedicated to making the world a better, happier place and part of that is ensuring equal rights for all,” said Adam Smith, co-founder and Chief Executive Officer of Avitas. He continues, “We’re thrilled to be able to support these great organizations with an oil blend that honors both the spirit of independence and joy that Pride embodies.”

Equal Rights Washington is an organization devoted to ensuring and promoting the dignity, safety, and equality for all LGBTQ Washingtonians. Their work began with the fight for LGBTQ non-discrimination protections in 2006, domestic partnerships in 2009, marriage equality in 2012, trans healthcare in 2015, and a statewide ban on conversion therapy for minors in 2018.

Through 22 years of dedicated work, Basic Rights Oregon has strengthened nondiscrimination laws, created safer schools, increased access to transgender-inclusive health care, banned so-called conversion therapy for LGBTQ youth and won the freedom to marry. Today, more than 150,000 volunteers and donors support Basic Rights’ LGBTQ pro-equality efforts.