The Flowr Corporation (TSXV: FLWR; OTC: FLWPF) (“Flowr” or the
“Company”), a Canadian Licensed Producer with an expanding global
cannabis production platform, is pleased to announce that the
Nasdaq Stock Market (“Nasdaq”) has approved the Company’s
application to have its common shares listed on the Nasdaq Capital
Market. A trading date will be announced by the Company upon
the Company’s Form 40-F registration statement becoming effective
with the United States Securities and Exchange Commission.
The common shares will be listed on the Nasdaq under the symbol
“FLWR”. The Company's common shares listed on the TSX Venture
Exchange will continue to trade under the symbol FLWR. “We have
made tremendous progress against our strategic priorities in 2019,
and the approval of our listing on the Nasdaq further enhances our
capital markets objectives. This listing provides us with broader
access to investors around the world and is a natural progression
for Flowr,” commented Vinay Tolia, Chief Executive Officer of
Flowr. “Later this year we expect to complete construction of
our purpose-built indoor cannabis facility, Kelowna 1, which will
position us to pursue further expansion at our Kelowna Campus,
while at the same time advancing our global plans through our
announced partnership with Holigen Holdings Limited.”
About The Flowr CorporationFlowr, through its
subsidiaries, holds a cannabis production and sales license 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 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 flowr.ca.
Follow Flowr on Twitter: @FlowrCanada; Facebook: Flowr Canada;
Instagram: @flowrcanada; and LinkedIn: The Flowr Corporation.On
behalf of The Flowr Corporation:Vinay ToliaCEO and DirectorCONTACT
INFORMATION: MEDIA:Sean GriffinVice President, Communications &
Public Relations(877) 356-9726 ext.
1526sean.griffin@flowr.caINVESTORS:Thierry ElmalehHead of Capital
Markets(877) 356-9726 ext. 1528thierry@flowr.caForward-Looking
Information This press release includes forward-looking
information and forward-looking statements within the meaning of
applicable Canadian and United States securities laws regarding
Flowr and its business, which may include, but are not limited
to: Flowr expanding its global cannabis production
platform, statements with respect to Holigen, including the closing
of the acquisition of a 19.8% interest in Holigen, the completion
of the Kelowna 1 facility enabling Flowr to
begin to capitalize on strategic growth opportunities, the
completion of Kelowna 1 positioning Flowr to pursue further
expansion of its Kelowna Campus, the completion and timing of
completion of the Kelowna 1 facility, the additional grow rooms
that will become available upon completion of the Kelowna
1 facility, the listing of the Company’s common shares on the
NASDAQ, the timing thereof, the trading of the common shares being
approved for listing, the approval of the Form 40-F registration
statement by the United States Securities and Exchange Commission
and the timing for such approval, Flowr’s strategic priorities for
2019 and progress with respect thereto, Flowr further enhancing its
capital market objectives, Flowr having broader access to
investors, Flowr being well positioned to complete its
facilities build-out and ramp-up production in 2019 and capitalize
on its strategic growth opportunities globally, 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 appeal to the adult-use recreational
market and address specific patient needs in the medicinal
market and other factors. Often, but not always,
forward-looking information can be identified by the use of words
such as “plans”, “is expected”, “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”, “would”, “might” or “will” be taken, occur or be achieved.
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, but not limited to, Flowr being unable to expand
its global cannabis production platform, Flowr being delayed in
closing the acquisition of a 19.8% interest in Holigen or such
acquisition not being completed, Flowr’s operational
efficiency not improving as a result of
the completion of the Kelowna 1 facility, the completion
of the Kelowna 1 facility not allowing Flowr to begin to
capitalize on strategic growth opportunities, Flowr not
achieving or producing the number of kilograms of capacity on
an annualized basis as expected, which could have a
material adverse effect on Flowr’s business, financial
condition and results of operations, Flowr not being able
to or being delayed in selling a wide selection of
cannabis cultivars in both seed and clone form in 2019, which
could have a material adverse impact on Flowr’s business, financial
condition and results of operations, the Company’s cultivation
process not enabling it to produce high quality
clones, Flowr not being able to produce the number of
clones expected or at all on annualized basis
upon completion of the Kelowna 1 facility, which
could have a material adverse impact on Flowr’s business, financial
condition and results of operations, the clones that
Flowr produces not being incremental to the Company’s
cultivation process and in excess of what it needs for its retail
and medical production, which could have a material adverse
impact on Flowr’s business, financial condition and results of
operations, the Kelowna 1 facility not being completed or
completed in time, the additional grow rooms that will become
available upon completion of the Kelowna 1 facility not
becoming available on time or at all, which could have a
material adverse impact on Flowr’s business, financial
condition and results of operations, the listing of the
Company’s common shares on the NASDAQ being
delayed, which could impact the liquidity of the
Company’s common shares or cause a significant
decline in the price of the common shares, the SEC not
bringing the Form 40-F registration statement effective, Flowr
being unable to achieve its strategic priorities for 2019, the
listing of the Company’s common shares on NASDAQ not enhancing
Flowr’s capital market objectives and/or not providing greater
access to investors, , Flowr not being able to execute on
growth strategies, including international opportunities, which
could adversely impact Flowr’s growth and future prospects, Flowr
not being able to sustain its competitive advantage in cultivation
and being unable to remain at the forefront of industry innovation,
whether as a result of failed construction of the facilities or
otherwise, Flowr not being able to meet demand or fulfill purchase
orders, which could materially impact revenues and its
relationships with purchasers, Flowr requiring additional financing
from time to time in order to continue its operations or expand
domestically or globally and such
financing not being 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’s products to appeal to the adult-use
recreational market and address specific patient needs in the
medicinal market, the inability of Flowr to produce and distribute
premium, high quality products, the inability to supply products or
any delay in such supply, 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 to treat certain conditions, the cannabis
industry and the regulation thereof, the failure to comply with
applicable laws, risks relating to partnership arrangements
(including the Hawthorne and Holigen partnerships), possible
failure to realize the anticipated benefits of partnership
arrangements (including the Hawthorne and Holigen partnerships),
product launches (including, without limitation, unsuccessful
product launches), the inability to launch products, 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 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.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.
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