California here we come !!! Flower One plans California expansion
2019-10-02 07:25 ET - News Release
Mr. Kellen O'Keefe reports
FLOWER ONE TARGETS CALIFORNIA FOR WEST COAST EXPANSION
Flower One Holdings Inc. has initiated its West Coast expansion. After successfully delivering the largest facility in Nevada, from conception to revenue generation in less than 14 months, Flower One has now set its sights on California as its next strategic market.
At 455,000 square feet, Flower One's existing Nevada facility is the largest cannabis greenhouse and production facility in the state. Plans for California entry will see the Company leverage the many cannabis-specific operational proficiencies and manufacturing methodologies it has developed in Nevada, to make it an industry leader and innovator in the state of California.
"Flower One's expansion to California is a natural and logical progression," said Ken Villazor, President and CEO of Flower One. "With California's proximity to Nevada, we are able to leverage processes and efficiencies already established as they relate to cannabis production and cultivation, as well as management, purchasing, training, and brand engagement. Our experienced team and the expertise gained from our successful Nevada market entry and roll out, provides us with an excellent foundation to seed our California operations."
Building off of its success in Nevada, where it achieved record cannabis yields and boasts the lowest reported production cash cost per gram in the industry at US$0.45 (US$205 per pound), Flower One's strategic efforts for market entry into California have been underway for the better part of a year. Leveraging the skills of a highly specialized and experienced team, the Company has conducted thorough analyses of various locations for climate, water, power, tax structures, and labor quality and supply. Strong engagement with local government entities including City, County and State has allowed the site selection process to narrow and negotiations to begin for purchase of a property.
"What Flower One has accomplished in Nevada is nothing short of spectacular," said Kellen O'Keefe, Chief Strategy Officer at Flower One. "We are confident in our team's capabilities - armed with over 25 years of experience in building and operating some of the largest greenhouse facilities in the world. We can't wait to bring Flower One to the largest legal cannabis market in the U.S."
According to leading market research firm Arcview, California will grow from its current market of $3.1 billion in sales to over $7.2 billion by 2024. Flower One is positioning itself to become one of the largest and most important seed to shelf cannabis brand fulfillment companies on the West Coast.
About Flower One Holdings Inc.
Flower One is the largest cannabis cultivator, producer, and full-service brand fulfillment partner in the state of Nevada. By combining more than 20 years of greenhouse operational excellence with best-in-class cannabis operators, Flower One offers consistent, reliable, and scalable fulfillment to a growing number of industry-leading cannabis brands. Flower One's flagship 400,000 square-foot greenhouse and 55,000 square-foot production facility is 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 and beverage 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, pre-rolls, concentrates, edibles, beverages, and topicals for the top-performing brands in cannabis.