An anonymous director reports
FLOWER ONE PROVIDES UPDATE ON EXEMPTION FOR Q1 2020 FILING
Flower One Holdings Inc. has provided an update on the filing of its first quarter 2020 financial results and accompanying management's discussion and analysis for the three-month period ended March 31, 2020, which were initially required to be filed by June 1, 2020, under National Instrument 51-102 (Continuous Disclosure Obligations). The company expects to file the first quarter disclosure documents prior to the end of the exemption period of July 16, 2020.
On March 23, 2020, the Canadian Securities Administrators published substantively harmonized temporary exemptions from certain regulatory filing requirements that provide issuers with a 45-day filing extension for filings required on or before June 1, 2020, to allow issuers the time needed to focus on the many other business and financial reporting implications of COVID-19. The company will continue to rely on the exemption granted under B.C. Instrument 51-515 (Temporary Exemption from Certain Corporate Finance Requirements) with respect to the Q1 disclosure documents.
In the interim, management and other insiders of the company are subject to a trading blackout policy that reflects the principles in Section 9 of National Policy 11-207 (Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions).
Other than as previously disclosed by the company in its news releases dated June 17, June 22 and June 29, 2020, there have been no material business developments since the date of the company's most recent filing of its annual financial statements and management's discussion and analysis on June 15, 2020.
Flower One continues to expect financial results in line with its previously reported figures, including preliminary financial results for the first quarter ended March 31, 2020, announced on April 6, 2020.
About Flower One Holdings Inc.
Flower One is the largest cannabis cultivator, producer and full-service brand fulfilment partner in the state of Nevada. Flower One's flagship 400,000-square-foot greenhouse and 55,000-square-foot production facility are 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, prerolls, concentrates, edibles and topicals for the top-performing brands in cannabis.
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