Flower One Holdings Inc (OTCMKTS:FLOOF) reported a QoQ growth of 52% in revenues to $8.8 million in Q1 2020. It posted record-high sales of $3.9 million in March 2020. The per gram average harvested cash cost is $0.49.
CEO and President of Flower One, Ken Villazor, said the company posted record sales in March 2020. He said the company maintains strong growth in revenues by cultivating the flower and fetching per gram cost of $0.49 in Q1 2020. The company optimized its operations to maintain competency in the cannabis and support retail partners and leading brands.
Flower One signs exclusive brand partner accord
Flower One inked a brand partner accord with Lift Ticket Laboratories (LTL) in June 2020. The agreement allows Flower One to become a brand manufacturing partner for LTL and introduce premium pre-roll products to the customers in Nevada on an exclusive basis. LTL will implement pre-roll production techniques and methods at the greenhouse facility of Flower One to enhance its manufacturing capabilities to satisfy the growing demand.
CSO of Flower One, Kellen O’keefe, said the company is excited to enter a partnership pact with LTL. The company will benefit from the user experience, quality, and brand collaborators of LTL to strengthen the product line to serve the market in Nevada. LTL products, along with Heavy Hitters and Cookies, the premium brand partners of Flower One, hit the shelves of retailers in Nevada in summer. The product portfolio of LTL include one gram infused pre-rolls, 2-gram infused pre-rolls, multipacks featuring glass tips, premium flower, premium concentrates, and half-gram infused pre-rolls.
Flower One successfully unveiled its premium brands – 22nd and Cookies into the markets in Nevada in July 2020 and will broaden its vape products SKUs in Q4 2020 by unveiling Heavy Hitters. Flower One mobilized funds of $13.9 million through private placements in May and June 2020.
Flower One delivers over 100 SKUs and maintains a lead in the industry in providing finished product derivatives. It is maintaining 92% of THC levels in all its products.
Receives approval of Nevada State to unveil vape brands
Flower One received Nevada’s nod to introduce three vape brands that include Old Pal, The Clear, and Heavy Hitters.