#Cannabis Stock News: Friday Night Inc. (CSE: TGIF) (FWB: 1QF) (OTC: VPGDF) Enters into a Land Purchase Agreement
Vancouver, British Columbia - August 28, 2017 (Investorideas.com Newswire) Friday Night Inc. (Friday Night) (CSE: TGIF) (FWB: 1QF) (OTC: VPGDF) is pleased to announce that it has entered into a land purchase agreement in Nevada.
Friday Night Inc. has entered into an agreement to purchase 1.39 acres of land in unincorporated Clark County for $432,000 (USD). The parcel is zoned M-1 and includes several site improvements including a 33,000-sq. ft. footprint for a building with footings already poured and in the ground, full perimeter security fences, water hook-ups for the full sprinkler system throughout the future warehouse and 2,000 amps of power. In addition, the Company has now secured an estimate from NV Energy to provide an additional 4,000 amps of power, which would support a two-story cultivation of up to 66,000 sq. ft. of canopy. All documents have been signed and the escrow has been opened with a $25,000 (USD) earnest money deposit. The terms provide for a closing within 85 days or sooner. Plans are being reviewed and revised for an updated cost estimate, which will be ready within 2 weeks.
John Goss, President, FN Management Services, a wholly owned subsidiary of Friday Night Inc. stated, "This property is a perfect fit to host one or more of Alternative Medicine Association's cultivation licenses and it allows us to be in operation in a short period of time. Most off sites are already installed at the property, the building plans were submitted but will now be revised to our specifications. We are truly excited to expand our cultivation and production capabilities to meet the growing demand for our and our strategic partners' brands which are being so well accepted in this recreational and medical cannabis market."
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.
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. This news release includes forward-looking statements with respect to the entering into a definitive agreement, the future exercise of the option regarding the vape lounge and the regulatory environment in Canada. 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 failure to enter into a definitive agreement, 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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