Friday Night Inc () is looking for larger premises in Las Vegas so it can keep up with demand for cannabis. <\/p>\n
The companys subsidiary, Alternative Medicine Association (AMA), had a record month in June as Las Vegas retailers stocked up on product ahead of the legalization of the sale of recreational marijuana in Nevada. <\/p>\n
AMA earned $902,000 in gross revenues for the month of June, 2017, up from $291,000 the previous month. <\/p>\n
Going legal has been a good move for Nevada in terms of tax revenues, with sales of US$3mln in the first four days of the new era bringing in US$500,000 of tax revenue. <\/p>\n
Friday Night said it expects demand for dried cannabis and derivative products to continue to grow and consequently is looking around for bigger facilities for AMA. <\/p>\n
\"Timing is everything and we feel that every day counts in this sector as it evolves so quickly, said Brayden Sutton, chief executive officer of Friday Night. <\/p>\n
American roots, but global growth; we have a first-mover advantage in Las Vegas that will only last so long. While we are elated with the increasing performance of AMA, we are also in a constant state of evaluating additional accretive opportunities to further our brand around the world,\" he added. <\/p>\n
Shares in Friday Night were up 19% at C$0.25 in lunchtime trading. <\/p>\n
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Friday Night looking to expand production capability as Las Vegas customer go potty - Proactive Investors UK<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Friday Night Inc () is looking for larger premises in Las Vegas so it can keep up with demand for cannabis. The companys subsidiary, Alternative Medicine Association (AMA), had a record month in June as Las Vegas retailers stocked up on product ahead of the legalization of the sale of recreational marijuana in Nevada. AMA earned $902,000 in gross revenues for the month of June, 2017, up from $291,000 the previous month Continue reading