Flower One Offers Fifth Bi-Weekly Standing Report in Relation to its Interim Filings

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LAS VEGAS & TORONTO — Flower One Holdings Inc. (“Flower One” or the “Firm”) (CSE: FONE) (OTCQX: FLOOF) (FSE: F11), the main hashish cultivator and producer in Nevada, right this moment gives its fifth bi-weekly standing report additional to the Firm’s press launch dated May 3, 2021. The Firm was granted a customary administration stop commerce order (the “MCTO”) underneath Nationwide Coverage 12-203 – Administration Stop Commerce Orders. As beforehand introduced, the application for the MCTO was made by the Firm as a way to safe further time for the Firm to file its audited annual monetary statements for the yr 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 Annual Filings had been filed on June 11, 2021. Nonetheless, because of the delay in submitting the Annual Filings, the Firm additionally introduced on May 28, 2021 that the submitting of its unaudited interim monetary statements, administration’s dialogue and evaluation and associated CEO and CFO certifications for the three-months ended March 31, 2021 (the “Interim Filings”), could be delayed past the submitting deadline of May 31, 2021. The Firm is working to finish the Interim Filings as quickly as potential and expects the Interim Filings to be filed on or earlier than July 5, 2021. The MCTO will keep in impact till the Firm is updated with all of its steady disclosure filings, which incorporates the Interim Filings. In the course of the the rest of the MCTO, the Firm confirms that it’ll adjust to the provisions of the choice data tips set out in NP 12-203 for so long as it stays in default.

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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 Firm confirms that (i) there was no materials change to the knowledge referring to the corporate’s delay in making the Interim Filings since its press launch on June 11, 2021 that has not been typically disclosed; (ii) there was no failure by the Firm 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 Firm underneath NP 12-203; and (iv) there is no such thing as a different materials data regarding the affairs of the Firm that has not been typically disclosed.

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 Firm.

About Flower One Holdings Inc.

Flower One is the most important hashish cultivator, producer, and full-service model success associate within the state of Nevada. By combining greater than 20 years of greenhouse operational excellence with best-in-class hashish operators, Flower One gives constant, dependable, and scalable success to a rising variety of industry-leading hashish manufacturers (Cookies, Kiva, Previous Pal, Heavy Hitters, Carry 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 quite a lot of: pre-rolls, concentrates, edibles, topicals, and extra for top-performing manufacturers in hashish. Flower One’s Nevada footprint contains 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 workforce centered on changing into the primary high-quality, low-cost model success associate.

The Firm’s widespread shares are traded on the Canadian Securities Alternate underneath the Firm’s symbol “FONE”, in america on the OTCQX Greatest Market underneath the symbol “FLOOF” and on the Frankfurt Inventory Alternate underneath the symbol “F11”. For extra data, go to: https://flowerone.com.

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Cautionary Word Relating to Ahead-Wanting Info

Statements on this press launch that aren’t statements of historic or present truth represent “forward-looking data” inside the that means of Canadian securities legal guidelines and “forward-looking statements” inside the that means of United States securities legal guidelines (collectively, “forward-looking statements”). Such forward-looking statements contain identified and unknown dangers, uncertainties, and different unknown components that would trigger the precise outcomes of the Firm to be materially totally 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 think about statements labeled with the phrases “believes,” “perception,” “expects,” “intends,” “anticipates,” “potential,” “ought to,” “might,” “will,” “plans,” “proceed” or different comparable expressions to be unsure and forward-looking.

Ahead-looking statements might embrace, with out limitation, timing of submitting the unaudited interim consolidated monetary statements and accompanying administration’s dialogue and evaluation on SEDAR sooner or later, the anticipated absence of an impression on the flexibility of different securityholders to commerce within the Firm’s securities, and the Firm’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, the “Cautionary Assertion concerning Ahead-Wanting Info” part contained the Firm’s administration’s dialogue and evaluation for the twelve and three months ended December 31, 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 can be described every now and then 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 would 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 supposed.

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Though the Firm believes that any forward-looking data and statements herein are cheap, in mild of the usage of assumptions and the numerous dangers and uncertainties inherent in such data and statements, there might 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 mustn’t place undue reliance upon such forward-looking data and statements. Accordingly, readers mustn’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 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.

View supply model on businesswire.com: https://www.businesswire.com/news/home/20210625005506/en/

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Contacts

Flower One Investor Relations
ir@flowerone.com
Kellen O’Keefe, President & Interim CEO
702.660.7775

Flower One Media
media@flowerone.com

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