Friday Night Inc. And SuicideGirls Cannabis Enter Into LOI..Friday Night Inc. And SuicideGirls Cannabis Enter Into LOI to Expand Market Presence with an Exclusive License for the State Of Nevada Vancouver, British Columbia (FSCwire) - Friday Night Inc. (Friday Night or the Company) (CSE: TGIF) (FWB: 1QF) (OTC: VPGDF) is pleased to announce that the Company has entered into a non-binding letter of intent (the LOI) with one of California’s most popular cannabis brands, SuicideGirls Cannabis (SGC), to expand their brand into Nevada.
The SuicideGirls Cannabis Highlights
- One of the fastest growing cannabis brands in California
- Launched in 2017, and they are in approximately 200 dispensaries in California
- One of the largest social media presences of any cannabis brand
- SuicideGirls is the largest alternative community on the internet, with over 6.7M Instagram followers
Transaction Highlights
- Friday Night Inc. will acquire an exclusive license for the SGC product line-up for all of Nevada;
- Friday Night Inc. will have the option to create a SuicideGirls vape lounge in the city of Las Vegas;
- AMA will be the exclusive provider/distributor for all SGC products and events in Nevada; and
- Friday Night Inc. will have a "right of first refusal" for the exclusive license for the Canadian Provinces of British Columbia and Alberta, once new regulations permit operations there
Pursuant to the terms of the LOI, in exchange for a 15% production royalty on gross sales and the issuance of 1 million common shares in the capital of the Company (Common Shares), Friday Night, through its 91% owned subsidiary, Alternative Medicine Association LC (AMA), will be the exclusive manufacturer and distributor of all SGC products within the State of Nevada. In addition, at such time as Canadian law permits, Friday Night will be granted exclusive rights to sell, manufacture and distribute SGC products in the Provinces of British Columbia and Alberta upon the issuance of a further 500,000 Common Shares. If and when AMA is granted a license to establish a "Vape Lounge" in the City of Las Vegas in which SGC products may be legally consumed, Friday Night has agreed to issue a further 500,000 Common Shares. The term of the licensing arrangement is three years and may be renewed by the parties for additional one-year terms.
A representative of SuicideGirls stated, "With the success of what we have seen with the SuicideGirls Cannabis brand in California, and Nevada recently going recreational, Las Vegas is the obvious next move for SGC. SuicideGirls has a huge presence in Las Vegas, and we are thrilled to partner with the outstanding Friday Night team to help extend our brand to our first new market outside of California.”
About Friday Night Inc.
Friday Night Inc. is a Canadian public company, which owns and controls cannabis and hemp based assets in Las Vegas Nevada. The company owns 91% of Alternative Medicine Association, LC (AMA), a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of unique cannabis-based products and manufactures other third-party brands. Infused MFG, also a 91% owned subsidiary, produces hemp-based, CBD products, thoughtfully crafted of high quality organic botanical ingredients. Friday Night Inc. is focused on strengthening and expanding these operations within and outside of the state.
About SuicideGirls Cannabis
SuicideGirls, the largest alternative community on the internet is now one of the fastest growing cannabis brands in California. In 2017, SuicideGirls Cannabis introduced their new effect based line of Cannabis vape Cartridges: Chill, Hustle, and Zero. Chill is an indica, specifically formulated to calm the mind and body. Hustle is a Sativa, that was created to boost energy and creativity. Zero is a hybrid that contains THCV, a compound found in cannabis that suppresses hunger, and gives the user a feeling of focus & clarity.
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