Podcast #52 Friday Night Inc

Las Vegas is well-known as a global party capital. Nevada is one of eight U.S. states that has fully legalized adult use of cannabis. It doesn’t take a genius to connect the dots on this business opportunity.

In terms of public companies, first out of the starting block in looking to capitalize on this opportunity is Friday Night Inc. (CSE: TGIF, FWB: 1QF, OTCQB: VPGDF, Forum). This Canadian-based cannabis company already has a significant foothold in this market, via its acquisition of Alternative Medicine Association (AMA).

AMA is a local, vertically integrated Las Vegas cannabis enterprise, with cultivation operations and a robust line of retail cannabis products. AMA is presently operating a 12,000 sq. ft. facility, with 5,000 sq. ft. devoted to cannabis cultivation. But not for long.

On August 25, 2017; Friday Night announced a Nevada land purchase agreement to acquire 1.39 acres of land already zoned for cannabis cultivation. The site is suitable for a 33,000 sq. ft. cultivation facility, providing up to 66,000 sq. ft. of canopy, in a two-tiered cultivation model.

On October 16, 2017; the Company announced that AMA has received preliminary approval by Clark County for this proposed facility. Final approval is anticipated by November 8th, at which time Friday Night will finalize its land purchase and move to quickly commence construction.

After a quiet summer where valuations pulled back, Canadian cannabis companies have recently been seeing stronger sentiment and rising valuations again. Today, Friday Night’s CEO, Brayden Sutton has checked in to provide the Stockhouse audience with an update on TGIF.