Friday Night Inc. and MariMed Advisors Enter Exclusive Licensing Agreement for Nevada; Executive VP Added to Team
Vancouver, British Columbia (FSCwire) - Friday Night Inc. (Friday Night) (CSE: TGIF) (FWB: 1QF) (OTC: VPGDF) is pleased to announce it has entered into an agreement with MariMed Advisors. The agreement is an exclusive licensing deal to produce MariMed THC products including their unique sublingual “Melts” product line, a THC and CBD “Mints” line, “Kalm Corn” products and the “Betty Eddies” and “Berry Bombs” line of products. MariMed’s Kalm Fusion branded line of cannabis-infused products, are all natural, precisely dosed products that let users select the speed at which cannabis therapies are delivered through the body.
Exclusive Product Licensing Agreement in Nevada
Alternative Medicine Association (“AMA”), a Friday Night company, will, on an exclusive basis, produce and distribute these and other MariMed products using their proprietary processes and distribute these products to all dispensaries in Nevada.
In addition to the exclusive product licensing agreement, Alternative Medicine Association entered into a separate LOI with MariMed on behalf of their client, Harvest Foundation, a Nevada cultivation licensee for medical and recreational cannabis, to operate and manage the 10,000 sq. ft. grow facility which is conveniently located adjacent to the current AMA facility in Las Vegas, Nevada. This provides many logistical advantages to both parties. Under the LOI, AMA will manage the Harvest Foundation cultivation and will purchase all of the trim and flower produced at a fixed cost per pound. The trim will be used to produce oil, some of which will be used to infuse the products manufactured for MariMed and the remaining to be used for AMA products.
Friday Night is pleased to have partnered with MariMed Advisors, allowing AMA to expand their product offering and most importantly, secure a source of additional trim and flower supply in the expanding Nevada market.
Mark Zobrist, Managing Partner at AMA stated: “We are pleased to partner with MariMed Advisors and to be selected to produce and distribute their very popular line of cannabis infused products. MariMed has a reputation for exact dosing delivered in unique, convenient packages for both medicinal and recreational uses. They are perfect for this rapidly expanding market in Las Vegas and throughout Nevada.“
Cameron Watt named as Executive Vice President
Friday Night is also pleased to appoint Mr. Cameron Watt to the position of Executive Vice President. Mr. Watt combines over 30 years of successful business negotiation and strategic leadership experience in various industries, with a talent for developing, launching and managing businesses.
A business graduate of the British Columbia Institute of Technology, Mr. Watt focuses on the execution of deliverables, and has played a significant role in the transition of several organizations experiencing rapid growth in highly competitive markets.
About MariMed Advisors:
MariMed is a management advisory company in the medical cannabis industry, leading the industry in the design, development, operation, funding, and optimization of medical cannabis cultivation, production, and dispensary facilities. MariMed’s team has developed state-of-the-art, regulatory-compliant legal cannabis facilities in multiple states. These facilities are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations. MariMed is on the forefront of precision-dosed cannabis medicine for the treatment of specific medical conditions. MariMed’s branded products, such as Kalm Fusion™, are being licensed and distributed in legal cannabis states across the country. For additional information, visit www.MariMedAdvisors.com
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. Visit http://fridaynightinc.com
For further 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. 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, inability to attract new customers in Nevada as a result of the license, the inability of the Company to take advantage of the license arrangement and various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. Friday Night undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law or the Canadian Securities Exchange.
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Source: Friday Night Inc (CSE:TGIF, OTC Pink:VPGDF, FWB:1QF)
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