Flower One Provides Third Bi-Weekly Status Report in Relation to its Annual 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 now supplies its third 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“) below Nationwide Coverage 12-203 – Administration Stop Commerce Orders (“NP 12-203“). As beforehand introduced, the applying for the MCTO was made by the Firm with a view to safe extra time for the Firm 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 type (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 power of different shareholders to commerce within the securities of the Firm.

In reference to the issuance of the MCTO, and in accordance with its obligation to supply bi-weekly updates below the choice data pointers set out in NP 12-203, the Firm declares that it’ll not be able to file the Annual Filings on Could 28, 2021 as introduced in its earlier bi-weekly updates dated Could 3, 2021 and Could 14, 2021, however expects to file the Annual Filings on or earlier than June 11, 2021. The Firm continues to work intently with its auditor to finalize the Annual Filings as quickly as attainable. The MCTO will keep in impact till the Annual Filings are filed.

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Along with the above, the Firm confirms that (i) there was no failure by the Firm in fulfilling its said intentions with respect to satisfying the provisions of the choice data pointers set out in NP 12-203; (ii) there has not been every other specified default by the Firm below NP 12-203; and (iii) there isn’t a different materials data regarding the affairs of the Firm that has not been typically disclosed.

Throughout the MCTO, the Firm confirms that it’ll adjust to the provisions of the choice data pointers set out in NP 12-203 for so long as it stays in default, together with the issuance of bi-weekly default standing studies, every of which will probably be issued within the type of a information launch. The MCTO will stay in impact till the Firm information the Annual Filings or the MCTO is in any other case revoked or diverse.

Replace on 2021 Interim Financials

Because of the delay in submitting the Annual Filings, the Firm additionally declares 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“), will probably be delayed past the submitting deadline of Could 31, 2021. The Firm is working to finish the Interim Filings as quickly as attainable and expects the Interim Filings to be filed on or earlier than June 16, 2021 following the Firm’s submitting of the Required Annual Filings.

About Flower One Holdings Inc.

Flower One is the most important hashish cultivator, producer, and full-service model achievement accomplice 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 achievement 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 at the moment produces a variety of merchandise from flower, full-spectrum oils, and distillates to completed client 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 crew targeted on changing into the primary high-quality, low-cost model achievement accomplice.

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The Firm’s frequent shares are traded on the Canadian Securities Change below the Firm’s image “FONE”, in america on the OTCQX Finest Market below the image “FLOOF” and on the Frankfurt Inventory Change below the image “F11”. For extra data, go to: https://flowerone.com.

Cautionary Notice Relating to Ahead-Wanting Data Statements on this press launch that aren’t statements of historic or present reality represent “forward-looking data” inside the which means of Canadian securities legal guidelines and “forward-looking statements” inside the which 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 would 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 think about statements labeled with the phrases “believes,” “perception,” “expects,” “intends,” “anticipates,” “potential,” “ought to,” “could,” “will,” “plans,” “proceed” or different related expressions to be unsure and forward-looking.

Ahead-looking statements could embody, with out limitation, the timeline by which the Firm intends to make the Annual Filings, the timeline by which the Firm intends to make the Interim Filings, the anticipated absence of an influence 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 data pointers.

The forward-looking statements contained on this press launch are expressly certified of their entirety by this cautionary assertion and the “Ahead-Wanting Statements” part contained within the Firm’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 can be described every so often 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 vital components that would trigger precise outcomes, efficiency or achievements to vary materially from these contained within the forward-looking statements, there may be different components that trigger outcomes, efficiency or achievements to not be as anticipated, estimated or meant.

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Though the Firm believes that any forward-looking data and statements herein are affordable, in gentle of the usage of assumptions and the numerous dangers and uncertainties inherent in such data and statements, there may 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 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.

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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