734, Dunsmuir St., Vancouver, B.C., Canada, V7X 1B1 CSE: TGIF
Friday Night Updates On Recreational License and State of Affairs in Nevada
Calgary, Alberta – June 28th, 2017 – Friday Night Inc. (the "Company") (CSE:TGIF) (FRANKFURT:1QF) is
pleased to provide on update on the Company’s recreational license, as well as an update on the current
landscape in Clark County, Nevada, as it relates to the proposed July 1st, 2017 roll-out of adult-use
cannabis.
Brian Sandoval, the governor of Nevada has already included $70 million dollars in projected revenues
from the new taxes on both medical and recreational marijuana this fiscal year. To accelerate those
revenues, the State and local governments have worked tirelessly to begin new recreational sales by July
1st, 2017. Friday Night has applied to the State and received its conditional approval to cultivate and
process recreational marijuana effective July 1st, 2017. The Company has also submitted its business
license application and is waiting for an appointment with the zoning department in Clark County as the
final step to receive its recreational permits.
The language in the original statute required that only licensed wholesale alcohol distributors could
transport the recreational marijuana from the cultivator to the dispensary. The State determined that
there would not be enough alcohol distributors to meet the demand for recreational transportation and
initially ruled that existing medical marijuana entities could also transport their own product to market.
The alcohol distributors sued to block the State’s decision. On Tuesday, June 20th, the judge sided with
the alcohol distributors and ruled that only alcohol distributors could be licensed to transport
recreational marijuana. The State immediately approved the 5 alcohol distributors who had applied to
transport the recreational marijuana. Since they have not handled this specific product before, they are
now scrambling to get their facilities and equipment qualified to be ready by July 1st. There may be
minor deficiencies in meeting the initial surge in demand for getting product from the cultivators to the
dispensaries but it will be ironed out and the flow will be handled as it has in other States that have
done similar. The Company does not anticipate any problems or significant delays. The Company
continues to produce high quality flower and extracts and looks forward to the projected increase in
revenues from recreational sales.
Mr. Mark Zobrist, director of Alternative Medicine Association, LC, the Company’s 91% subsidiary,
commented, “This is a tremendous opportunity for the Company. To be in Las Vegas and witness the
beginning of adult use of cannabis, combined with the already strong demand for medicinal purposes, is
very exciting. The local and State officials are to be congratulated for staying the course and doing it in a
tightly regulated, professional manner.”
