Chef Reed will join Flowr's world-class
R&D team to research and develop high-quality edible
products
KELOWNA, BC, March 1, 2019 /CNW/ - The Flowr Corporation
(TSXV: FLWR) (OTC: FLWPF) ("Flowr" or the "Company"), a
Canadian Licensed Producer of premium cannabis products, today
announced the hiring of celebrated Canadian Chef Ryan Reed to develop signature edible cannabis
products for the Flowr brand. Chef Reed, a past winner of Iron Chef
and Chopped and Victoria's 2011
Chef of the Year, will collaborate closely with Flowr's R&D
Team to research and develop high-quality edibles. Like the brand's
existing product, it is the Company's intention to target the needs
of a premium client with this new line. Flowr expects that
customers will be able to purchase these unique, gourmet products
once launched following the anticipated legalization of edibles and
infused products in Q4 2019.
"The hiring of Chef Reed complements Flowr's already significant
investment in research and development," said Tom Flow, Flowr's Co-CEO. "This includes our
dedicated, state-of-the-art cannabis R&D facility, a North
American first, our exclusive partnership with Hawthorne Gardening
Company, a subsidiary of The Scotts Company, a world leader in lawn
and garden products, and the recent hiring of Deron Caplan, North
America's First Cannabis Cultivation Ph.D.," said Flow.
"One POV in the analyst report published by Jefferies Financial
earlier this week is that investment in R&D, including
strategic hires, creates value for cannabis companies.1
That has always been Flowr's belief. Bringing Ryan into the fold is
the next step in a focused R&D strategy that has created a
competitive advantage for Flowr and will keep us on the cutting
edge of cannabis innovation," added Dr. Lyle Oberg, Chief Policy and Medical Officer of
Flowr and a former Finance Minister of Alberta.
"I'm thrilled to join the Flowr Family. It's an honour and a
pleasure to join a company that is ride or die on technique,
quality and innovation," said Chef Reed.
"A kitchen and a cultivation facility both require leaders with
technical mastery to truly innovate. Tom
Flow spent years mastering the craft of growing fine
cannabis. Like Tom, I've put in the time. I've been a garde manger,
a saucier, an entremetier as well as a head chef. Now I look
forward to working with Tom and the team to bring gourmet,
sophisticated edibles that are intended to cater to the needs of a
premium customer to market," he added.
Flowr Engages ICR to Enhance Investor Relations, Media
Relations, and Corporate Communications
Separately, Flowr also announced that it has engaged ICR, a
leading strategic communications and advisory firm, to enhance the
Company's investor relations, media relations and corporate
communications program.
"ICR's capital markets and financial media expertise, combined
with its significant experience in the cannabis, CPG and retail
sectors is expected to enhance our communications to all of our
stakeholders, broaden exposure to investors, and deepen the
financial communities' understanding of Flowr's differentiated
business model, growth strategy and market opportunity. We are
excited to partner with ICR," concluded Mr. Flow.
Flowr has engaged ICR to provide comprehensive investor
relations and corporate communications services for a six-month
period at an agreed upon monthly retainer fee, with the total cost
of such fees being not more than US$150,000. Neither ICR nor any of its principals
have an ownership interest, directly or indirectly, in Flowr or its
securities, and the Company has not granted ICR or its principals
any right to acquire such interests.
About ICR
Established in 1998, ICR partners with companies to execute
strategic communications and advisory programs that achieve
business goals, build awareness and credibility, and enhance
long-term enterprise value. The firm's highly-differentiated
service model, which pairs capital markets veterans with senior
communications professionals, brings deep sector knowledge and
relationships to more than 650 clients in approximately 20
industries. ICR's healthcare practice operates under the Westwicke
brand (www.westwicke.com). Today, ICR is one of the largest and
most experienced independent communications and advisory firms in
North America, maintaining offices
in New York, Norwalk, Boston, Baltimore, San
Francisco, San Diego and
Beijing. ICR also advises on
capital markets transactions through ICR Capital, LLC.
Learn more at www.icrinc.com. Follow ICR on Twitter at
@ICRPR.
About Flowr
Flowr, through its subsidiaries, holds a cannabis production and
sales licence granted by Health Canada. With a head office in
Toronto and a production facility
in Kelowna, BC, Flowr builds and
operates large-scale, GMP-designed cultivation facilities utilizing
its own patented growing systems. Flowr's investment in research
and development along with its sense of craftsmanship and a spirit
of innovation is expected to enable it to provide premium-quality
cannabis that appeals to the adult-use recreational market and
addresses specific patient needs in the medicinal market.
For more information, visit www.flowr.ca. Follow Flowr
on Twitter: @FlowrCanada; Facebook: Flowr Canada; Instagram:
@flowrcanada; and LinkedIn: The Flowr Corporation.
On behalf of The Flowr Corporation:
Tom Flow
Co-CEO
Notice Regarding Forward-Looking Information
This press release includes forward‐looking statements within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and forward‐looking information within the
meaning of Canadian securities laws. Any statements contained in
this news release that are not statements of historical fact may be
deemed to be forward-looking statements. Often, but not
always, forward-looking information can be identified by the use of
words such as "plans", "expects", "scheduled", "intends",
"contemplates", "anticipates", "believes", "proposes"
or variations (including negative and grammatical variations)
of such words and phrases, or state that certain actions, events or
results "may", "could", "should", "would", "might" or "will" be
taken, occur or be achieved. Forward-looking statements regarding
Flowr and its business include, but are not limited to, statements
with respect to: Flowr's intention to develop edible cannabis
products, Chef Ryan collaborating closely with Flowr's R&D team
to research and develop high-quality edibles, Chef Ryan working
closely with Tom Flow and others at
the Company to bring edible products to market, the Company's
intention to target the needs of premium clients with a new line of
edibles, the Company's expectation for when customers will be able
to purchase any edible and/or infused products, Flowr's belief that
investment in R&D, including strategic hires, creates value for
cannabis companies, any next steps in Flowr's R&D Strategy and
the ability of those steps to create a competitive advantage for
the Company, Flowr continuing to be on the cutting edge of cannabis
innovation, ICR enhancing the Company's investor relations, media
relations, and corporate communications program, ICR's ability to
enhance communications to the Company's stakeholders, broaden
exposure to investors and deepen the financial communities'
understanding of Flowr's differentiated business model, growth
strategy and market opportunity, Flowr's facilities being designed
and constructed to GMP standards, Flowr's investment in research
and development along with its sense of craftsmanship and a spirit
of innovation enabling it to provide premium-quality cannabis that
appeals to the adult-use recreational market and addresses specific
patient needs in the medicinal market and other factors. Such
statements are based on the current expectations of Flowr's
management and are based on assumptions and subject to risks and
uncertainties. Although Flowr's management believes that the
assumptions underlying these statements are reasonable, they may
prove to be incorrect. The forward-looking events and circumstances
discussed in this press release may not occur by certain specified
dates or at all and could differ materially as a result of known
and unknown risk factors and uncertainties affecting Flowr,
including risks relating to the inability of the Company to develop
edible products, the inability of the Company to bring edible
products to market, the anticipated legalization of edible and
infused products failing to occur and/or a legal market for edible
and infused products not developing, investment in R&D,
including strategic hires not creating value for the Company,
Flowr's R&D strategy failing to create a competitive advantage
for the Company, the Company's inability to remain on the cutting
edge of cannabis innovation, , ICR being unable to enhance the
Company's investor relations, media relations, and corporate
communications program, ICR's inability to enhance communications
to the Company's stakeholders, broaden exposure to investors and
deepen the financial communities' understanding of Flowr's
differentiated business model, growth strategy and market
opportunity, the inability of Flowr to construct or maintain
its facilities at GMP standards, which could significantly impact
sales of Flowr's products, Flowr's cultivation team not employing
exacting protocols throughout the growing and curing process, which
could impact the quality of the products and the experience for
customers, Flowr not being able to provide premium-quality cannabis
that appeals to the adult-use recreational market and addresses
specific patient needs in the medicinal market, demand for cannabis
products decreasing, including with respect to Flowr's products,
the inability of Flowr to provide what it perceives to be
much-needed, high quality product to the market, the inability of
Flowr to control the growing environment in its facilities, which
could result in loss of products or the need to irradiate products,
thus impacting the supply and demand for and/or quality of the
products, Flowr requiring additional financing from time to time in
order to continue its operations and construct its facilities
and such financing may not be available when needed or on terms and
conditions acceptable to the Company, new laws or regulations
adversely affecting the Company's business and results of
operations, results of operation activities and development of
projects, project cost overruns or unanticipated costs and
expenses, the inability of Flowr's products to be high
quality, the inability of Flowr to produce and distribute premium,
high quality products, the inability to supply products or any
delay in such supply, which could result in significant penalties
or costs being imposed on Flowr, Flowr's securities, the inability
to generate cash flows, revenues and/or stable margins, the
inability to grow organically, risks associated with the geographic
markets in which Flowr operates and/or distributes its products,
risks associated with fluctuations in exchange rates (including,
without limitation, fluctuations in currencies), risks associated
with the use of Flowr's products, the cannabis industry and the
regulation thereof, the failure to comply with applicable laws, the
failure to obtain regulatory approvals, economic factors, market
conditions, risks associated with the acquisition and/or launch of
products, the equity and debt markets generally, risks associated
with growth and competition (including, without limitation, with
respect to Flowr's products), general economic and stock market
conditions, risks and uncertainties detailed from time to time in
Flowr's filings with the Securities and Exchange Commission and
Canadian Securities Administrators and many other factors beyond
the control of Flowr. Although Flowr has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking information, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. No forward-looking information can be
guaranteed. Except as required by applicable securities laws,
forward-looking information speaks only as of the date on which it
is made and Flowr undertakes no obligation to publicly update or
revise any forward-looking information, whether as a result of new
information, future events, or otherwise.
The information contained or referred to in this press release
relating to ICR under the heading "About ICR" has been provided by
ICR. Although Flowr has no knowledge that would indicate that any
statements contained herein concerning ICR are untrue or
incomplete, neither Flowr nor any of its directors or officers
assumes any responsibility for the accuracy or completeness of such
information or for any failure by ICR to ensure disclosure of
events or facts that may have occurred which may affect the
significance or accuracy of any such information.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
1The Flowr Corporation ("Flowr") is not
affiliated with Jeffries Financial, and Flowr has not endorsed the
contents of the Jeffries Financial analyst report. Any
opinions, forecasts or estimates about Flowr's performance made by
Jeffries Financial are theirs alone. They do not represent
opinions, predictions or forecasts of Flowr or its management. By
its reference in this press release, Flowr does not imply its
endorsement of, or agreement with such information, recommendations
or conclusions. In addition, Flowr has not independently
verified the accuracy or completeness of the information contained
in the report.
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SOURCE The Flowr Corporation