Sign up USA
Proactive Investors - Run By Investors For Investors

Friday Night looking in fine form as it inks trim production deal

The chain will supply trim as a raw material to the group's production subsidiary AMA, who will extract and process the materials
Friday Night looking in fine form as it inks trim production deal
AMA estimates it will then produce over 20,000 half-gram units every month

Las-Vegas focused recreational cannabis group Friday Night Inc (CNSX:TGIF) got  a further boost - inking a production  deal with a major dispensary chain in Nevada.

The chain will supply trim as a  raw material to the group's production subsidiary AMA, who will extract and process the materials into high grade concentrates.

Trim is defined as the excess snipping of leaves from the buds of marijuana plants and the dispensary will provide a minimum of 100 pounds per month.

AMA estimates it will then produce over 20,000 half-gram units every month.

"We have the lab and the expertise, so this agreement fits our business operations perfectly in an environment where raw material is in short supply," said AMA’s head of extraction.

"The first batch of raw material (trim) has been delivered to AMA, weighed more than 150 pounds and tested showing excellent results."

Recently formed - Friday Night revealed last week that it posted around US$1mln of revenue and gross profit of $230,714 in the last six weeks of the fourth quarter in its year to July 31.

It said it's now building on these numbers and will announce first quarter results in December (this month).

In June this year, the firm announced the purchase of a  91% stake in Alternate Medicine Association (AMA), a licensed medical marijuana producer -  the second firm to get such a licence in Nevada and the very first in Vegas.

It also acquired a 91% stake in  Infused Mfg - a company that provides hemp-derived and cannabidiol (or CBD) products.

Shares were unchanged at C$0.44 each.

View full TGIF profile View Profile

Friday Night Inc. Timeline

Related Articles

1519327525_WeedMD-photo-for-Proactive.jpg
February 22 2018
The company is developing its medical cannabis for both domestic and global markets

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use