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Nevada Cannabis Operator Flower One Recapitalizes and Reorganizes Board and Executive Team – New Cannabis Ventures


January 27, 2021 at 7:38 am
Published by NCV Newswire
Editor’s note: The company corrected and replaced the original press release:
Flower One Announces Changes to the Board of Directors and Executive Management, Initial Debt Restructuring and the Initial Closing of over US$10 million and up to US$25 million in Convertible Debenture Financing
LAS VEGAS & TORONTO-January 27, 2021-(BUSINESS WIRE)–Flower One Holdings Inc. (“Flower One” or the “Company”) (CSE: FONE) (OTCQX: FLOOF) (FSE: F11), a leading cannabis cultivator, producer and innovator in Nevada, today announced: changes and additions to its Board of Directors (the “Board”) and executive management team; the completion of its initial debt restructuring; the agreement by the Southlands and Yaletown Trusts to retire 20,000,000 common shares of the Company (the “Retired Common Shares”), and the initial closing of US$10,100,000 of a non-brokered convertible debenture offering of up t ....

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Flower One Appoints New CEO, Restructures Debt, Explores Sale-Leaseback Deal


Cannabis company
Flower One Holdings Inc. (CSE:FONE) (OTCQX:FLOOF) has made several leadership changes, including the appointment of interim CEO Kellen O Keefe.
The move comes as Ken Villazor resigned as CEO, President and board chair.
In addition, O Keefe along with Mitchell Kahn and Eliza Gairard were appointed to the board of directors. O’Keefe will continue as Chief Strategy Officer, as well.
Amit Varma and David Wesley resigned from the board.
Separately, Nitin Kaushal was named chair of the company’s audit, risk and finance committee, while Salpy Boyajian was named executive vice president and board chair.
The moves come on the heels of a debt restructuring.  ....

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