Friday Night Inc. (CSE:TGIF) (OTCQB:TGIFF) announced the final closing of its recent land purchase on Tuesday. The acquisition of 2.78 acres in Las Vegas adds to the 1.39 acres the company previously purchased in the city. The acreage will be host to Alternative Medicine Association’s 67,000 square foot cultivation facility, which has already received the necessary building and cultivation permits from the state of Nevada.
Alternative Medicine Association (AMA) is a subsidiary of Friday Night Inc. based out of Las Vegas. AMA produces its own lines of recreational and medicinal marijuana. The managing partner of AMA, Mark Zobrist, announced plans for future growth for both companies in a statement on Tuesday.
“The additional land will allow for future expansion of the cultivation facility as well as a new production facility when needed. 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,” Zobrist stated.
According to a statement, Friday Night Inc. and its wholly-owned subsidiaries are focused on expanding their current operations in both Canada and the United States. With recreational sales in Nevada reaching $200 million in just six months, Friday Night Inc. touted their position in The Silver State in a statement last Friday.
As the first company approved to cultivate and dispense marijuana in Southern Nevada, Friday Night Inc. gained a head start in the Las Vegas recreational industry. The company already owns one cultivation facility in the city as well as a CBD-infused product company that provides medical and topical products. The company hopes investors will take advantage of them as a lucrative opportunity in Las Vegas’ recreational market.
Earlier this month, Friday Night Inc. acquired Spire Secure Logistics, a Canadian security intelligence company. Spire designs IT and security programs for the legal cannabis sector. In a recent interview with PotNetwork, Spire co-founders Jeff Meyers and Andy Richards shared their experience in securing the cannabis industry.
“We represent a number of industries,” they said, “but currently focus the majority of our services on cannabis as it is the fastest growing economic sector. With that being said, we provide advanced security consultation services to government, prospective licensed producers, retailers, existing licensed producers and ancillary businesses.”
Working with ancillary companies to provide products and security measures diversifies Friday Night Inc.’s investment portfolio. Between security investments with Spire and cultivation opportunities with AMA, Friday Night Inc. hopes to be well-positioned in Nevada and soon take in the global cannabis market.
*Photo Credit: Writer Gal