Calgary, Alberta (FSCwire) - Friday Night Inc. (the "Company") (CSE: TGIF) (FRANKFURT: 1QF) is pleased to provide an update on the Company’s activities in Nevada. As per the recently announced press release dated July 7th, 2017, the Company is continuing to seek additional future acquisitions and currently conducting due diligence on real estate options in Las Vegas.
The Company believes cannabis sales in Nevada’s newly minted legal recreational market will thrive as the market matures. Adults aged 21 and older are now able to buy up to one ounce of cannabis, or one-eighth of an ounce of cannabis-infused edibles and concentrates.
Nevada’s population is just under 3 million residents, leading to a relatively small resident consumer market. However, over 40 million tourists visited Las Vegas in 2016. Nevada’s experience managing world-class recreational experiences will create exciting opportunities to integrate cannabis into the state’s rich hospitality and entertainment portfolio.
In addition, the company is pleased to announce, industry veteran, Mr. Drew Milburn to its advisory board. Mr. Milburn was a consultant to Heath Canada on the roll out of their new licensed producer model (then the MMPR, now called the ACMPR) as well as a consultant to many license applicants in Canada.
Mr. Milburn opened his first retail dispensary in North Hollywood in 2008 and in 2009 he was successful in obtaining the very first license in the city of Colorado Springs to sell, cultivate and extract cannabis. In 2012, Arizona held a lottery and Drew had the distinction of being involved in 6 of the first 20 licenses established in the state. He personally trained and guided the company that opened the 1st licensed facility, which was completed under budget and ahead of schedule. With Drew’s guidance, licensees began opening and operating in record time utilizing the latest technology and best practices in cultivating and manufacturing. Drew’s footprint is now in 12 of the 29 medicinally legal states.
Mr. Brayden Sutton, CEO of Friday Night Inc. commented, "Las Vegas has proven so far to be a very hot market, and we’re humbled to have already been quoted in several mainstream media outlets such as Forbes, the Washington Post and CBS News to provide some color as to the situation on the ground. Having worked with Mr. Milburn in various capacities over the past 4 years; there is not a single individual I can think of in North America that has the expertise or the experience to better help guide our Company as we expand.”
The Company has agreed to grant 250,000 incentive stock options to Mr. Milburn for his advisory role on such terms and conditions as determined by the Board of Directors following closing of the current brokered private placement of convertible debentures.
The Company has also engaged Bleackley Ventures Ltd. In a Corporate Communications role at a rate of $3,000 per month, on a month-to-month basis, plus a one-time payment of 100,000 common shares of the Company.
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.
For more information, please contact:
Joe Bleackley, Corporate Communications
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements in respect to assumptions of market demand, market share, potential real estate acquisitions and future business opportunities. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. The Company disclaims any obligation to update forward looking information contained herein, except to the extent required by law.
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