The Flowr Corporation Announces Update on First Quarter 2020 Earnings Date
June 12 2020 - 7:55PM
The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (“Flowr” or the
“Company”) announced that the Company has decided to utilize more
time as allowed under temporary exemptions with respect to the
filing of its first quarter 2020 interim financial statements and
related management discussion and analysis for the period ended
March 31, 2020 (collectively, the “Interim Filings”). Flowr had
previously announced on May 29th, 2020 that it expected to release
first quarter Interim Filings on or before June 15th, 2020. The
Company will issue a subsequent press release announcing its first
quarter earnings date in the near future.
On March 23rd, 2020, the Canadian Securities
Administrators published substantively harmonized temporary
exemptions from certain regulatory filing requirements that provide
issuers with a 45-day filing extension for filings required on or
before June 1st, 2020 to allow issuers the time needed to focus on
the many other business and financial reporting implications of
COVID-19. The Company will rely on these exemptions with respect to
the Interim Filings as set out in Part 4 and Part 5 of NI
51-102.
All of the Company’s management, directors and
other insiders will remain subject to a blackout period under its
Timely Disclosure, Confidentiality and Insider Trading Policy,
which reflects the principles set out in section 9 of National
Policy 11- 207: Failure-to-File Cease Trade Orders and Revocations
in Multiple Jurisdictions.
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. 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
operates GMP licensed facilities in both 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 flowrcorp.com
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 postponement of the filing
of the Interim Filings; the expected timeline for the Company to
report and file first quarter 2020 earnings; the Company relying on
exemptions with respect the Interim Filings; the Company’s
management, directors and other insiders remaining subject to a
blackout period under its Timely Disclosure, Confidentiality and
Insider Trading Policy; 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 craftsmanship and
product consistency; and Flowr’s business, production and products.
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: Flowr
being unable to file the Interim Filings on the anticipated
timeline, or at all; the Company being unable to satisfy the
requirement for the applicable exemptions and relief it is relying
on with respect to the Interim Filings, or such exemptions becoming
otherwise unavailable to the Company; the inability of the Company
to have its management, directors and other insiders adhere to its
Timely Disclosure, Confidentiality and Insider Trading Policy;
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
craftsmanship and product consistency; the construction and
development of 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; the
Company’s inability to raise capital or have the liquidity to
operate or advance its strategic initiatives 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 29, 2020 (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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