Mr. Kellen O'Keefe reports

FLOWER ONE ANNOUNCES CCAA FILING

Flower One Holdings Inc. and its Canadian subsidiaries sought and obtained an initial order of the Supreme Court of British Columbia pursuant to the Companies' Creditors Arrangement Act (the CCAA). PricewaterhouseCoopers Inc. (PwC) was appointed as the monitor.

The decision to commence CCAA proceedings was made after careful consideration of the Canadian company's financial position and significant consultation with certain key creditors of Flower One. The CCAA proceedings are intended to facilitate a restructuring of the Canadian company's balance sheet and the injection of additional capital, with a view of Flower One going private by the end of the 2022 calendar year, thereby eliminating the administrative burden and significant expense associated with being a publicly listed company.

During the CCAA process, the United States operations of Flower One are expected to continue in the ordinary course and without interruption.

PwC has set up a website, where updates on the Canadian restructuring process, the monitor's reports to the court, court orders and other information will be posted as soon as they are available. For specific questions about the CCAA, please contact the monitor via e-mail at ca_flowerone@pwc.com or by phone at 604-484-3477.

The next court hearing is scheduled for Tuesday, Oct. 25, 2022, at 9 a.m. PT at which time the Canadian company and its Canadian subsidiaries are intending to seek the orders substantially on the terms set out in schedules B and C of the petition -- all of which can be found on the monitor's website as noted herein.

About Flower One Holdings Inc.

Flower One is the largest cannabis cultivator, producer and full-service brand fulfilment partner in the state of Nevada. By combining more than 20 years of greenhouse operational excellence with best-in-class cannabis operators, Flower One offers consistent, reliable and scalable fulfilment to a growing number of industry-leading cannabis brands (Cookies, Kiva, Old Pal, Heavy Hitters, Lift Ticket's, Huxton and Flower One's leading in-house brand, Nlvo, and more). Flower One currently produces a wide range of products from flower, full-spectrum oils and distillates to finished consumer packaged goods, including a variety of: prerolls, concentrates, edibles, topicals and more for top-performing brands in cannabis. Flower One's Nevada footprint includes the company's flagship facility, a 400,000-square-foot high-technology greenhouse and 55,000-square-foot production facility, as well as a second site with a 25,000-square-foot indoor cultivation facility and commercial kitchen. Flower One has built an industry-leading team focused on making high-quality cannabis available to all.

The company's common shares are traded on the Canadian Securities Exchange under the company's symbol FONE and on the Frankfurt Stock Exchange under the symbol F11.

We seek Safe Harbor.