VANCOUVER, June 5, 2018 /CNW/ - Friday Night Inc. (the Company or Friday Night) (CSE:TGIF) (FWB:1QF) (OTC:TGIFF) a leading cannabis, hemp and CBD producer in Nevada, is pleased to announce that its subsidiary, Infused MFG ("Infused") has signed a 12-month licensing agreement (the "Agreement") with Denver Dab Company ("DDC") to produce the Company's line of products in the state of Colorado.
Under the terms of the Agreement, DDC will manufacture and distribute Infused's Canna Hemp™ CBD and hemp-based products on an exclusive basis to retail cannabis dispensaries in Colorado. Infused retains the right to sell its products directly to general retail stores in that State. DDC will manufacture Canna Hemp™ branded products including: CBD Relief Cream, body lotions, lip balms, disposable Vape Pens, Vape Cartridges, Elixirs and Capsules as well as Canna Hemp™ Paws pet products.
Well-known for its superior processing and testing standards, DDC is a producer of high quality concentrates and pure cannabis oil for the medical and recreational markets across Colorado. Since the state legalized industrial hemp production for commercial purposes in 2012, Colorado now accounts for more than half of the hemp production in the United States and represents a potential large revenue opportunity for Friday Night.
Chris Rebentisch, President and CEO of Infused said, "We are pleased to penetrate the most mature legalized cannabis market in the United States. Colorado boasts 518 licensed dispensaries and legal cannabis sales reached $1.5 billion in 2017, making the State the largest cannabis market in the US next to California." He added, "DDC has set the standard in Colorado as their quality of extracts is unmatched. I believe that we could not have partnered with a better company".
Mr. Drew Mattison, Founder and President of DDC remarked, "On behalf of the entire team at Denver Dab Company, we are thrilled to be teaming up with Infused and Friday Night Inc. We look forward to partnering with such a strong and well-branded company, in not only bringing the Canna-Hemp brand to Colorado, but furthering Canna-Hemp's dominance through the infusion of Denver Dab Co's premium THC extracts."
About Denver Dab Company
Founded in 2016, Denver Dab Company is a leading concentrate producer in the State of Colorado. Denver Dab Company's mission is to provide the most pure, highest quality concentrates, while also empowering the consumer with knowledge of the significant medical benefits of Cannabis. Denver Dab Company is an industry leader for quality and testing standards. Denver Dab Company is widely recognized as the cleanest, highest quality concentrate company in all of Colorado.
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 as well as an international cannabis and mining security logistics consulting firm. 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. The Company's wholly-owned subsidiary, Spire Secure Logistics is a leading provider of customized security programs, compliance, information technology, buildout design, and due diligence services for the legal cannabis, mining and investment sectors. Friday Night Inc. is focused on strengthening and expanding its current operations.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 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.