The Flowr Corporation Files Preliminary Short Form Base Shelf Prospectus & to Present at ICR 2020 and AltaCorp 2020 Investor ...
January 09 2020 - 12:10PM
The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (“Flowr” or the
“Company”) announced today that it has filed a preliminary short
form base shelf prospectus (the “Shelf Prospectus”) with the
securities regulators in each province of Canada, except for the
Province of Quebec.
“Although we have no immediate plans to raise
capital through this Shelf Prospectus filing at this time, we
believe it’s prudent to give the Company the flexibility to access
capital in the future when opportunities emerge to continue
executing on our global growth strategies,” said Vinay Tolia, Chief
Executive Officer of The Flowr Corporation. “Despite the recent
market volatility, we continue to be bullish on the growth
opportunities in our businesses globally in 2020 and beyond.
As we stated in our Q3 update, we believe we’ll be cash flow
break even in the second half of 2020 with the capital available to
us today. Flowr’s management and insider ownership exceeds
50%. Management’s and the Board’s interests are highly
aligned with all current and future shareholders of the Company.”
The Shelf Prospectus, when made final, will
allow the Company to make offerings of common shares, preferred
shares, debt securities, subscription receipts, warrants or any
combination thereof of up to $175 million during the 25-month
period that the Shelf Prospectus is effective. If any securities
are offered under the Shelf Prospectus, when made final, the terms
of any such securities and the intended use of the net proceeds
resulting from such offering would be established at the time of
any offering and would be described in a prospectus supplement
filed with the applicable Canadian securities regulators at the
time of such an offering. The purpose of the Shelf Prospectus
is to shorten the timeline to raise funds for growth opportunities
and working capital.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy securities, nor will
there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
A copy of the Shelf Prospectus, when made final,
can be found on SEDAR at www.sedar.com.
Upcoming Conferences
The Company also announced today that it will
participate in two industry conferences in January. Vinay
Tolia, Flowr’s Chief Executive Officer, will present on Tuesday,
January 14th at 4:30 pm at ICR 2020 in Orlando, Florida. The
presentation will be webcast and available on flowr.ca after the
event. Lance Emanuel, Flowr’s President, will participate on
a panel discussion on Tuesday January 14th at approximately 3:00 pm
at the 8th Annual AltaCorp Institutional Investor Conference in
Toronto, Canada.
The presentations will be available on the
Investors section of the Company’s website at
flowr.ca/investors/.
About The Flowr Corporation
The Flowr Corporation is a Toronto-headquartered
cannabis company with operations in Canada, Europe, and
Australia. Its Canadian operating campus, located in Kelowna,
BC, includes a purpose-built, GMP-designed indoor cultivation
facility; an outdoor and greenhouse cultivation site; and a
state-of-the-art R&D facility that is currently under
construction. From this campus, Flowr produces recreational
and medicinal products. Internationally, Flowr intends to
service the global medical cannabis market through its subsidiary
Holigen, which has a license for cannabis cultivation in Portugal
and will operate GMP-designed manufacturing facilities in Portugal
and Australia.
Flowr aims to support improving outcomes through
responsible cannabis use and, as an established expert in cannabis
cultivation, strives to be the brand of choice for consumers and
patients seeking the highest-quality craftsmanship and product
consistency across a portfolio of differentiated cannabis
products.
For more information, please visit flowr.ca or
follow Flowr on Twitter: @FlowrCanada and LinkedIn: The Flowr
Corporation.
On behalf of The Flowr Corporation:Vinay
ToliaCEO and Director
CONTACT INFORMATION:
INVESTORS & MEDIA:Thierry ElmalehHead of Capital
Markets(877) 356-9726 ext. 1528thierry@flowr.ca
Forward-Looking Information and Statements
This press release contains “forward-looking
information” within the meaning of Canadian Securities laws, which
may include but is not limited to: the Company’s immediate plans
with respect to raising capital; the Company’s ability to access
capital in the future when opportunities emerge; the Company
continuing to execute on its global growth strategies; the
Company’s growth opportunities for its businesses globally in 2020
and beyond; the Company’s expectations regarding becoming cash flow
break even, including the timing thereof and contributing factors
thereto; Flowr participating in two industry conferences; Flowr
servicing the global medical cannabis market and operating
GMP-designed manufacturing facilities in Portugal and Australia;
Flowr supporting improving outcomes through responsible cannabis
use and striving to be the brand of choice for consumers and
patients seeking highest-quality craftmanship and product
consistency; and Flowr’s business, production and products and
Flowr’s plans to provide premium quality cannabis to adult use
recreational and medical markets. 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 information and 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 such information and
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 Company’s being unable to raise additional capital or
to access capital in the future when opportunities emerge; the
Company being unable to execute its global growth strategies;
growth opportunities for the Company’s businesses globally not
materializing in 2020 and beyond; the Company being unable to
become cash flow break even within the anticipated timeframe or at
all; Flowr being unable to service the global medical cannabis
market and/or operate GMP-designed manufacturing facilities in
Portugal and Australia; Flowr being unable to support improving
outcomes through responsible cannabis use and/or striving to be the
brand of choice for consumers and patients seeking highest-quality
craftmanship and product consistency; the construction and
development of Holigen’s and the Company’s cultivation and
production facilities; general economic and stock market
conditions; adverse industry events; loss of markets; future
legislative and regulatory developments in Canada and elsewhere;
the cannabis industry in Canada generally; the ability of Flowr to
implement its business strategies; Flowr’s inability to produce or
sell premium quality cannabis, 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 or statements, there may be other
factors that cause actions, events or results to differ from those
anticipated, estimated or intended. No forward-looking information
or statement can be guaranteed. Except as required by applicable
securities laws, forward-looking information and statements speak
only as of the date on which they are made and Flowr undertakes no
obligation to publicly update or revise any forward-looking
information or statements, whether as a result of new information,
future events or otherwise. When considering such forward-looking
information and statements, readers should keep in mind the risk
factors and other cautionary statements in Flowr’s Annual
Information Form dated April 3, 2019 (the “AIF”) and filed with the
applicable securities regulatory authorities in Canada. The risk
factors and other factors noted in the AIF could cause actual
events or results to differ materially from those described in any
forward-looking information or statements.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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