Flower 1 Obtains Meeting Order Below the Companies’ Collectors Arrangement Act (Canada) – Hashish Information



LAS VEGAS–(Enterprise WIRE)–Flower 1 Holdings Inc. (“Flower One” or the “Canadian Company”) (CSE: FONE) (FSE: F11), the Canadian parent enterprise of the primary cannabis cultivator and producer in Nevada, is happy to announce that the Supreme Court of British Columbia (the “Court”) has granted an get (the “Meeting Order”) which, between other things, authorizes the Canadian Firm and its Canadian subsidiaries Flower Just one Corp. and FO Labour Management Ltd. (collectively, the “Canadian Companies”) to current a strategy of compromise, arrangement and reorganization (the “Plan”) of the Canadian Businesses to their influenced creditors at a meeting (the “Meeting”) on December 19, 2022 at 2:00pm PST.

Supplied the Strategy receives the requisite approvals at the Assembly and by the Courtroom, and is implemented in accordance with its conditions: (i) afflicted collectors of the Canadian Corporations will get a distribution in accordance with the Plan, and (ii) Flower One will stop to individual the US functions and the Canadian Companies will cease to have any belongings, with the expectation that they will every single make an assignment into personal bankruptcy. Appropriately, Flower One particular will not continue being compliant with securities guidelines and rules that are relevant to general public issuers and is anticipated to be de-outlined from the CSE and to be ceased traded beneath applicable Canadian securities regulations. The Plan does not give for any distributions to shareholders of Flower Just one on account of their fairness pursuits.

Through this time, the US operations of Flower Just one are predicted to carry on in the regular class and with out interruption.

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As previously documented, PricewaterhouseCoopers Inc. has been appointed to act as the Canadian Companies’ observe under the CCAA (in such potential, the “Monitor”). A duplicate of the Approach, Assembly Order and Conference components, such as a Recognize of Meeting, may be located on the Monitor’s site at https://www.pwc.com/ca/en/solutions/insolvency-assignments/flower-one/assembly-components.html. Any affected creditor wishing to go to the Meeting or vote on the Strategy, must evaluation the assembly resources. In get to show up at the Meeting, afflicted collectors need to get hold of the Keep an eye on ahead of 9:00 am on December 19, 2022, as established out in the Discover of Meeting.

Further more details concerning the CCAA proceedings can be received by making contact with the Monitor through electronic mail at ca_flowerone@pwc.com or on the Monitor’s website: https://www.pwc.com/ca/FONE. Stakeholders are inspired to review the Monitor’s internet site, together with the Approach, for far more information.

About Flower A single Holdings Inc.

Flower One is the greatest cannabis cultivator, producer, and entire-services manufacturer achievement associate in the point out of Nevada. By combining a lot more than 20 years of greenhouse operational excellence with very best-in-course cannabis operators, Flower One particular offers constant, trustworthy, and scalable success to a developing amount of marketplace-major hashish models (Cookies, Kiva, Aged Pal, Significant Hitters, Lift Ticket’s, HUXTON, and Flower One’s primary in-dwelling model, NLVO, and additional). Flower 1 currently makes a broad selection of solutions from flower, full-spectrum oils, and distillates to concluded buyer packaged products, which includes a selection of: pre-rolls, concentrates, edibles, topicals, and extra for major-performing makes in hashish. Flower One’s Nevada footprint involves its flagship facility, a 400,000 square-foot significant-tech greenhouse and 55,000 square-foot generation facility, as perfectly as a second site with a 25,000 square-foot indoor cultivation facility and industrial kitchen. Flower One has created an field-major team concentrated on producing higher-high-quality hashish obtainable to all.

The Canadian Company’s common shares are traded on the Canadian Securities Exchange under the Canadian Company’s symbol “FONE”, and on the Frankfurt Inventory Trade beneath the image “F11”. For much more details, go to: https://flowerone.com.

Cautionary Observe With regards to Ahead-Looking Info

Statements in this press release that are not statements of historical or latest point represent “forward-looking information” inside of the meaning of Canadian securities guidelines and “forward-on the lookout statements” in just the which means of United States securities regulations (collectively, “forward-hunting statements”). This sort of ahead-wanting statements require regarded and mysterious dangers, uncertainties, and other mysterious factors that could result in the actual outcomes of the Canadian Business to be materially distinct from historical final results or from any future precise results expressed or implied by these ahead-searching statements. In addition to statements which explicitly describe these types of hazards and uncertainties, viewers are urged to look at statements labeled with the phrases “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue” or other similar expressions to be unsure and forward-searching.

Ahead-wanting statements may incorporate, without the need of limitation, statements relating to the Meeting, the expected final result, timing and completion of the equilibrium sheet restructuring and CCAA proceedings, which include expectations with respect to the injection of additional cash hazards associated to the CCAA proceedings and the impact of similar on Flower One’s functions anticipations that the US operations of Flower A single will proceed in the common system and without interruption the predicted outcome, timing and completion of Flower One particular company heading private, such as getting needed approvals the timing of submitting of updates, elements and/or data on the Canadian restructuring method Flower One’s position as a leader in the Nevada cannabis current market Flower One’s leadership as a cannabis cultivator, producer, innovator and comprehensive-assistance brand name achievement partner and the generation of a broad range of products and solutions for the nation’s top-undertaking brands.

The ahead-wanting statements contained in this push launch are expressly experienced in their entirety by this cautionary statement, the “Cautionary Statement pertaining to Forward-On the lookout Information” segment contained the Canadian Company’s management’s dialogue and investigation for the 3 and six month intervals ended June 30, 2022 (the “MD&A”). All forward-looking statements in this press launch are manufactured as of the date of this push release. The forward-looking statements contained herein are also matter commonly to assumptions and threats and uncertainties that are described from time to time in the Canadian Company’s public securities filings with the Canadian securities commissions, together with the Canadian Company’s MD&A. Although Flower Just one has tried to establish vital factors that could result in real benefits, efficiency or achievements to vary materially from these contained in the ahead-seeking statements, there can be other factors that bring about success, performance or achievements not to be as expected, estimated or intended.

Although Flower 1 thinks that any ahead-seeking details and statements herein are reasonable, in mild of the use of assumptions and the important dangers and uncertainties inherent in this sort of information and statements, there can be no assurance that any these ahead-on the lookout details and statements will establish to be accurate, and accordingly visitors are suggested to depend on their very own evaluation of this sort of dangers and uncertainties and should not put undue reliance upon these types of forward-seeking data and statements. Accordingly, viewers ought to not location undue reliance on ahead-wanting statements. The ahead-hunting statements in this press release are manufactured as of the day of this release. Flower Just one disclaims and does not undertake any intention or obligation to update or revise any such forward-on the lookout statements, whether as a final result of new facts, long run functions or usually, except as necessary by applicable law.

NEITHER THE CANADIAN SECURITIES Trade NOR THEIR Laws Expert services Company HAVE REVIEWED OR Acknowledge Obligation FOR THE ADEQUACY OR Accuracy OF THIS Release.


Flower A person Investor Relations


Kellen O’Keefe, President & CEO


Flower Just one Media


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