On November 4. Flower One Holding Inc. announced that the company is growing at a rapid rate since its first official sale from the greenhouse. Flower One Holdings Inc. is a Nevada-based grower, processor, and full-service brand fulfillment.
The company is planning to expand its operations to California, and acquisition negotiations for a 50-acre plot are underway. Flower One was also presented with an opportunity to buy an additional 150 acres neighboring the 50-acre site. The 50-acre property is in a region where farming and production of marijuana are approved. The good thing is that the site is at the advanced pre-development state because the plot is licensed, and all the utilities have been installed.
The site has tax tiered structures that are favorable for marijuana farming and the establishment of a production facility in the state of California. With the company’s operational cost efficiencies, it will be able to use the tax agreements to combine the tax-efficient economies making Flower One the leading low-cost, large scale operator in the marijuana industry in California. The company cannot disclose the exact location of the property for tactical and propriety reasons
Depending on when Flower One concludes Acquisition negotiations successfully, the advanced pre-development state of the site may allow the company to enter into the marijuana market in California two years ahead of schedule. The company plans on finishing the construction of the production facility in the first quarter of 2020.
The president and CEO of Flower One said that the Nevada company operations are at 445, 000 square feet facility. The company is one of the most advanced high-tech marijuana farming and production plants in the world. Flower One’s goal is to become an industry leader in the U.S marijuana sector, which will be advanced by the successful acquisition of the California property. Internationally, California has the largest marijuana market, with 39 million residents, and 250 million-plus visitors each year. The 2019 cannabis revenues exceed last year with 3 billion dollars. It is estimated to increase to $7.2 billion by 2024.
Top marijuana brands in California, such as Kiva, Cookies, and Old Pal, have existing relationships with Flower One. It is also in partnership with 14 brands that are among the top brands in the world whose roots are in California.
Flower One’s business development and growth strategy will be boosted by its relationship and partnership with these top brands and the strategic location of the property.
Flower One has the best-in-class greenhouse, engineers, builders, and operators. The team is also experts in cultivation, production facility designers. The company is also in an exclusive partnership with the Dennis Group, their General Contractors. The California facility design is based on the Nevada facility.
The California facility would be up to 700,000 square feet, where 500, 000 square-feet would be used for cultivation.