The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (“Flowr” or the
“Company”) and TruTrace Technologies Inc. (CSE: TTT; OTC: TTTSF)
("TruTrace") today announced that Flowr joined the Shoppers Drug
Mart (“Shoppers”) medical cannabis verification pilot program (the
“Pilot Program”), which was announced last month at the World
Cannabis Congress. The Pilot Program is intended to increase
transparency, interoperability and product identification within
the medical cannabis industry.
The Pilot Program uses TruTrace’s StrainSecure™
technology as a central hub for identity management, asset
tracking, validation, and product authentication. StrainSecure™
will also serve as a master registry for standardized testing,
product verification, and quality assurance.
Under the StrainSecure™ program, the TruTrace
team collects plant testing data and performs genomic verification
in plant batches which are then registered in a blockchain-enabled
database for intellectual property protection and strain
validation. All information gathered from the plants, including
their molecular and chemical makeup, can be tracked via the
program
“Our medical cannabis products in Canada are
available through Shoppers as we believe the pharmacy model offers
significant benefits to patients. We fully support the objectives
of this Pilot Program and look forward to working with our partners
to ensure patients have access to medicinal cannabis they can
trust,” said Dr. Lyle Oberg, Flowr’s Chief Medical and Policy
Officer. “Medical cannabis patients expect that their
medication is safe, standardized and of high quality, and we
believe this formal traceability program can play an important part
in the overall process of building that trust.”
“We are very pleased to see Flowr join the Pilot
Program and affirm its commitment to achieving the highest
standards of transparency and accountability,” said TruTrace
Technologies CEO Robert Galarza. “It is more important than ever to
provide assurance to patients about the origins and quality of
their cannabis.”
Flowr has a supply agreement with Shoppers to
supply its FlowrRx brand of medical cannabis products. Patients can
visit Shoppers’ ecommerce site, shoppersdrugmart.ca/cannabis, to
learn more.
About The Flowr Corporation
Flowr, through its subsidiaries, holds cannabis
production and sales licenses 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 expects to
provide premium-quality cannabis to the adult-use recreational
market and the medicinal market.
About Shoppers Drug Mart
Shoppers Drug Mart is one of the most recognized and trusted
names in Canadian retailing. The company is the licensor of
full-service retail drug stores operating under the name Shoppers
Drug Mart (Pharmaprix in Québec). With almost 1,300 Shoppers
Drug Mart and Pharmaprix stores operating in prime locations in
each province and two territories, the company is one of the most
convenient retailers in Canada. The company also licenses or
owns 47 medical clinic pharmacies operating under the name
Shoppers Simply Pharmacy (Pharmaprix Simplement Santé in Québec),
and provides cosmetic dermatology services at two standalone
locations, the Beauty Clinic. As well, the company owns and
operates 43 corporate Wellwise by Shoppers Drug Mart stores and an
ecommerce site Wellwise.ca, making it the largest Canadian retailer
of home health care products and services. In addition to its
retail store network, the company owns Shoppers Drug Mart Specialty
Health Network Inc., a provider of specialty drug distribution,
pharmacy and comprehensive patient support services, and MediSystem
Inc., a provider of pharmaceutical products and services to
long-term care facilities. Shoppers Drug Mart is an independent
operating division of Loblaw Companies Limited.
On behalf of The Flowr Corporation: Vinay
ToliaCEO and Director
CONTACT INFORMATION
MEDIA:Sean GriffinVice President, Communications
& Public Relations (877) 356-9726 ext.
1526sean.griffin@flowr.ca
INVESTORS:Thierry ElmalehHead of Capital
Markets(877) 356-9726 ext. 1528thierry@flowr.ca
Forward-Looking Information and
Statements
This press release includes forward-looking
information within the meaning of Canadian securities laws
regarding Flowr and its business, which may include, but are not
limited to: the Pilot Program being intended to increase
transparency, interoperability and product identification within
the medical cannabis industry; Flowr’s medical cannabis products in
Canada being available exclusively through Shoppers; Flowr’s
belief that the pharmacy model offers significant benefits to
patients; Flowr ensuring patients have access to medicinal cannabis
they can trust; Flowr’s belief that a formal traceability program
can play an important part in the overall process of medical
cannabis patients building trust in medication that is safe,
standardized and of high quality; Flowr’s commitment to achieving
the highest standards of transparency and accountability; and
Flowr’s expectations for providing premium-quality cannabis to the
adult-use recreational market and the medicinal market. 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 risks relating
to the Pilot Program not being able to increase transparency,
interoperability and product identification within the medical
cannabis industry, the pharmacy model not being able to offer
significant benefits to patients, Flowr’s inability to ensure
patients have access to medicinal cannabis they can trust, a formal
traceability program not building patients’s trust in medication
that is safe, standardized and of high quality, Flowr being
unable to achieve the highest standards of transparency and
accountability, Flowrbeing unable to provide premium-quality
cannabis to the adult-use recreational market and the medicinal
market, the inability of Flowr to capture any portion of the
expected Canadian medical cannabis market, Flowr’s facility failing
to be the industry’s most advanced GMP designed cultivation
facility, which could significantly impact the quality and safety
of Flowr’s products, 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, Flowr’s inability to excel at cultivating premium cannabis,
Flowr’s inability to construct its facilities, or in the time
anticipated, Flowr requiring additional financing from time to time
in order to continue its operations 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, risks relating to partnership arrangements, possible failure
to realize the anticipated benefits of partnership arrangements,
including those described herein, 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.
The information contained or referred to in this
press release relating to TrueTrace and its products has been
provided by TrueTrace. In preparing this press release, Flowr
relied upon TrueTrace to ensure that this press release contains
full, true and plain disclosure of information relating to
TrueTrace and its products. Although Flowr has no knowledge that
would indicate that any statements contained herein concerning
TrueTrace and its products 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 TrueTrace to ensure disclosure of events or facts that may have
occurred which may affect the significance or accuracy of any such
information.
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