Flower One Holdings Inc. ("Flower One" or the "Company") (CSE: FONE) (OTCQX: FLOOF) (FSE: F11), the leading cannabis cultivator and producer in Nevada, is pleased to announce its strategic brand partnership with ALTWELL, a leading California health and wellness cannabinoid-based brand owned by Alternative Biologics. In addition to this exclusive brand partnership, Nikki Brown, ALTWELL co-founder, has been appointed as the first member of the Company’s Advisory Board, effective August 10, 2021.

“We are thrilled to partner with ALTWELL and welcome Nikki to our advisory board. As a CPG and wellness pioneer, Nikki brings a tremendous amount of value to Flower One,” said Kellen O’Keefe, Flower One’s President & Interim CEO. “Our strategic partnership with ALTWELL + will bring a diverse range of wellness products to the market as well as enhance Flower One’s edible and beverage capabilities. We share ALTWELL’s belief that cannabinoids can enhance people’s everyday lives and be an integral part of their wellness routine.”

“We’re excited to launch ALTWELL + with Flower One in Nevada. We’re inspired by this emerging, more natural channel of wellness products,” said Nikki Brown, Co-Founder of ALTWELL. “I look forward to working closely with the Flower One team as an advisor. They lead an important marketplace and are helping to shape and professionalize this important wellness platform.”

Nikki Brown and her family are known for making their mark in the beverage and wellness industry by founding CytoSport in 1997, and then formulating and building the Muscle Milk brand of protein products, which was acquired by Hormel in 2014. Following the acquisition, Nikki and her family took their industry expertise to create ALTWELL, a brand focused on blending traditional ingredients with CBD and other cannabinoids to create products that focus on everyday life and bringing balance for better sleep, energy and hydration.

ALTWELL + products will be available in Nevada in the fourth quarter of 2021 and will include beverages, stick packs, gummies and tinctures.

About Flower One Holdings Inc.

Flower One is the largest cannabis cultivator, producer, and full-service brand fulfillment 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 fulfillment to a growing number of industry-leading cannabis brands (Cookies, Kiva, Old Pal, Heavy Hitters, Lift Ticket’s, The Clear, 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: pre-rolls, 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-tech 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 becoming the first high-quality, low-cost brand fulfillment partner.

The Company’s common shares are traded on the Canadian Securities Exchange under the Company’s symbol “FONE”, in the United States on the OTCQX Best Market under the symbol “FLOOF” and on the Frankfurt Stock Exchange under the symbol “F11”. For more information, visit: https://flowerone.com.

About ALTWELL

Alternative Biologics, owner of ALTWELL is headquartered in Benicia, California. The ALTWELL CBD brand was established in 2018 and is rooted in health and wellness led by a team with over 50 years of experience. Founded by the Pickett family, the company leverages its sport nutrition heritage in partnership with its in-house R&D team to create best-in-class ALTWELL CBD and now low dose THC products under the ALTWELL + brand name that consumers can trust both in quality and taste. The brand’s U.S. based suppliers were selected for quality, potency, and consistency. Their leadership believes in transparency and regulatory excellence from seed to shelf. To ensure this, ALTWELL meticulously hand-picked team members who have worked in FDA and SQF audited food and science-based businesses.

For more information, visit: www.altwell.com

Cautionary Note Regarding Forward-Looking Information

Statements in this press release that are not statements of historical or current fact constitute "forward-looking information" within the meaning of Canadian securities laws and "forward-looking statements" within the meaning of United States securities laws (collectively, "forward-looking statements"). Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from historical results or from any future actual results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "potential," "should," "may," "will," "plans," "continue" or other similar expressions to be uncertain and forward-looking.

Forward-looking statements may include, without limitation, the listing of the Warrants, and the Warrant Shares of the Company issuable upon the exercise of the Warrants on the CSE; the use of proceeds; the Company’s leadership as a cannabis cultivator, producer, innovator and full-service brand fulfillment partner; the Company’s ability to offer consistent, reliable and scalable fulfillment to a growing number of industry-leading brand partners; and the production of a wide range of products for the nation’s top-performing brands.

The Company is indirectly involved in the manufacture, possession, use, sale and distribution of cannabis in the recreational and medicinal cannabis marketplaces in the United States through its subsidiary Cana Nevada Corp. Local state laws where Cana Nevada Corp. operates permit such activities; however, these activities are currently illegal under United States federal law. Additional information regarding this and other risks and uncertainties relating to the Company’s business are contained under the heading "Risk Factors" in the Company’s Annual Information Form dated June 23, 2020 (the "Annual Information Form").

The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement, the "Cautionary Statement regarding Forward-Looking Information" section contained in the Annual Information Form and the Prospectus Supplement. All forward-looking statements in this press release are made as of the date of this press release. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company’s public securities filings with the Canadian securities commissions, including the Company’s Annual Information Form and the Prospectus Supplement.

Although Flower One has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects that are engaged in activities currently considered illegal under United States federal law; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Flower One disclaims and does not undertake any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR THEIR REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.