CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article discussing the fast start for Nevada’s recreational marijuana sales and the prime position established by Friday Night Inc. (CSE:TGIF) (CNSX:TGIF) (TGIF.CN) (OTCQB:TGIFF) in the state. The company operates an existing cultivation facility and has near term plans to expand into a 67,000 sq. ft. state of the art facility. In addition to Nevada’s medical and recreational market, the company is targeting nationwide opportunities in the cannabidiol (CBD) space and positioning itself to expand into California’s market.

Recreational Sales Near $200 Million

Nevada’s recreational cannabis market has already generated more than $200 million in sales since legalization just six months ago. Driven by over 45 million visitors to Las Vegas each year, these sales surpassed the total revenue generated by Colorado and Washington State in the early months of their recreational cannabis programs. Nevada’s monthly sales average about $32 million, compared to more mature market numbers of $96.7 million in Colorado and $79.7 million in Washington State.

Despite early concerns and hurdles, the state’s early start program was largely successful in handling the influx of new recreational use customers. The program enabled licensed medical dispensaries to sell recreational marijuana while rules for the adult-use program were finalized. With adult-use in place, there will be only around 130 licensed recreational dispensaries, which is far fewer than any other recreational market in the country.

These dynamics bode well for companies that have already established a recreational presence in Nevada. Early revenue figures suggest that the majority of the state’s recreational cannabis income comes from the tourism industry rather than its existing population.

Friday Night’s Leading Position in Nevada

Friday Night is a Nevada-licensed cannabis producer focused on building lifestyle brands for both the medical and recreational markets.

The company owns an existing cultivation facility in Las Vegas, Nevada, as well as a separate CBD infused product company providing medical and topical product mixes. The company was the first to be approved in Southern Nevada by both state and local jurisdictions, which provided it with a valuable head start in the state’s lucrative market.

Earlier this month, the company announced that it closed on the purchase of an additional 2.78 acres of land that’s contiguous to its current location that will host its new cultivation facility. Its majority-owned Alternative Medical Association owns over 4.17 acres following the transaction on a major thoroughfare in Las Vegas. The company plans to build a new state-of-the-art 67,000 sq. ft. cultivation facility on this land that will help further scale both revenue and product lines.

"The additional land will allow for future expansion of the cultivation facility as well as a new production facility when needed,” said Mark Zobrist, Managing Partner of Alternative Medicine Association. “It could also be used as the location for a retail dispensary license application if the company decides to apply when that window opens again. This acquisition gives us a strategic advantage and flexibility for our long-term plans to meet the market demand.”

Looking Ahead

Friday Night Inc. (CSE:TGIF) (OTC:TGIFF) represents a compelling investment opportunity in Nevada’s lucrative recreational cannabis market. With Nevada sales already moving past $200 million, the company has a tremendous opportunity given its proximity to Las Vegas, expansion projects, and move into other markets. Investors may want to take a closer look at the stock given these short- and long-term potentials.

Please follow the link to read the full article: http://www.cannabisfn.com/friday-night-well-positioned-nevadas-growing-rec-market/

For more information, visit the company’s website at www.fridaynightinc.com.

About CFN Media

CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.

Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/featuredcompany

Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8

Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com

Disclaimer

CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on http://www.cannabisfn.com (the ‘Site’) is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies.  We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.

The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

CFN MediaFrank Lane206-369-7050flane@cannabisfn.com

1933 Industries (CSE:TGIF)
Historical Stock Chart
From Sep 2024 to Oct 2024 Click Here for more 1933 Industries Charts.
1933 Industries (CSE:TGIF)
Historical Stock Chart
From Oct 2023 to Oct 2024 Click Here for more 1933 Industries Charts.