The Flowr Corporation Announces Sales Agency Agreement with Green Hedge
June 29 2021 - 5:30PM
The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF)
(“
Flowr” or the “
Company”) is
pleased to announce that it has signed an agreement with Green
Hedge Education & Distribution Services Ltd. (“
Green
Hedge”) to act as the Company’s external sales agent
providing coverage to licensed cannabis wholesalers and retailers
across Canada.
“Working with Green Hedge allows Flowr to access
a much wider audience of retailers throughout Canada. In Ontario
alone we expect more than 1,300 retail outlets to open by the end
of 2021 and partnering with Green Hedge allows us to expand our
trade universe coverage in a cost-effective manner,” commented
Darryl Brooker, Chief Executive Officer of the Company. “Green
Hedge has one of the biggest distribution footprints in Canada and
we see this as an important way to have an even broader
distribution of our flagship strains BC Pink Kush and BC Black
Cherry.”
Green Hedge is a leading cannabis sales and
distribution company headquartered in Toronto, Ontario led by
Andrew von Teichman. His entrepreneurial experience over two
decades in distribution and consumer packaged goods has established
Green Hedge as one of Canada’s top cannabis distributors. Operating
in six provinces with more than 2,000 active retail partners in
Canada, the company has a 93% penetration rate with their
customers.
We are thrilled to have Flowr as part of the
portfolio. Their position in premium flower and production
capabilities make them an ideal fit for our growing portfolio of
market leading brands,” commented von Teichman, CEO of Green
Hedge.
About Flowr
The Flowr Corporation is a Toronto-headquartered
cannabis company with operations in Canada and the European Union.
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
Holdings Limited, which has a license for cannabis cultivation in
Portugal and operates a GMP licensed facility in Portugal. In 2020,
Flowr’s BC Pink Kush was recognized as the top indica strain in
Canada by KIND magazine.
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.
About Green Hedge
Green Hedge’s mission is to be the leading
cannabis distributor in Canada, providing a complete sales,
marketing and education solution for licensed producers and
cannabis companies. Green Hedge offers cannabis manufacturers a
national voice for their brands into retailers in every province,
leveraging a highly knowledgeable and discerning team of cannabis
sales educators. Green Hedge represents a leading portfolio of some
of Canada’s top cannabis brands.
On behalf of The Flowr Corporation:
Darryl BrookerChief Executive Officer
CONTACT INFORMATION:
INVESTORS & MEDIA:John ChouChief Financial
OfficerJohn.chou@flowr.ca
Forward-Looking Information:
Certain statements made in this press release
may constitute “forward-looking information”, “future oriented
financial information” or “financial outlooks” (collectively,
“forward-looking information”) within the meaning
of applicable securities laws. Forward-looking information may
relate to anticipated events or results including, but not limited
to: the Company’s expectation that it will build on its
achievements as it continues to invest in sales and marketing; the
Company’s expectations for sales of product in Quebec; Flowr
servicing the global medical cannabis market and operating GMP
facilities in Portugal; Flowr’s business, production and products;
Flowr’s plans to provide premium quality cannabis to adult use
recreational and medical markets; EU-GMP certification opening the
medicinal cannabis opportunity for the Company in global markets;
the Company being well positioned to distribute EU-GMP compliant
product into underserviced markets; Flowr’s ability to realize
revenue from the Company’s European operations within the
anticipated timeframe or at all; Flowr’s ability to establish sales
and distribution channels in Europe to deliver medicinal cannabis
to underserviced markets; expectations with respect to the
anticipated timing for harvests, propagation, completion of
construction and installation of extraction infrastructure at the
Company’s Sintra facility; the Company being unable to commence GMP
packaging and commercial sales within the anticipated timeframe or
at all; Flowr’s ability to service the global medical cannabis
market and/or operate GMP-designed manufacturing facilities in
Portugal; the sale of medical cannabis in pharmacies in Portugal
representing a watershed moment for cannabis in the E.U.; the
Company’s ability to complete offering(s) of its securities under
the Final Shelf Prospectus; the expected impact of the strategic
review decisions on the Company; the actual costs of savings from
the Company’s restructuring initiatives, including with respect to
its workforce; the Company’s plans to divest its interests in
certain of its subsidiaries; the Company’s ability to obtain
licensing from Health Canada and other regulatory authorities with
respect to its properties and facilities; future legislative and
regulatory developments in Canada and elsewhere; the cannabis
industry in Canada generally; the ability of Flowr to implement its
business strategies; and the ability of Flowr to produce or sell
premium quality cannabis. Particularly, information regarding our
expectations of future results, targets, performance achievements,
prospects or opportunities is forward-looking information. Often,
but not always, forward-looking statements can be identified by the
use of forward-looking terminology such as “may”, “will”, “expect”,
“believe”, “estimate”, “plan”, “could”, “should”, “would”,
“outlook”, “forecast”, “anticipate”, “foresee”, “continue” or the
negative of these terms or variations of them or similar
terminology. Forward-looking information is current as of the date
it is made and is based on reasonable estimates and assumptions
made by us at the relevant time in light of our experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors that we believe are
appropriate and reasonable in the circumstances. To the extent any
forward-looking information in this press release constitutes
“future oriented financial information” or “financial outlooks”,
within the meaning of applicable securities laws, the purpose of
such information being provided is to demonstrate the potential of
the Company and readers are cautioned that this information may not
be appropriate for any other purpose. However, we do not undertake
to update any such forward-looking information whether as a result
of new information, future events or otherwise, except as required
under applicable securities laws in Canada. There can be no
assurance that such estimates and assumptions will prove to be
correct. Many factors could cause our actual results, level of
activity, performance or achievements or future events or
developments to differ materially from those expressed or implied
by the forward-looking information as discussed in the “Risk
Factors” section of the Company’s 2020 Annual Information Form
dated April 28, 2021 (the “AIF”). A copy of the
AIF and the Company’s other publicly filed documents can be
accessed under the Company’s profile on the System for Electronic
Document Analysis and Retrieval (“SEDAR”) at
www.sedar.com. The Company cautions that the list of risk factors
and uncertainties described in the AIF is not exhaustive and other
factors could also adversely affect its results. Readers are urged
to consider the risks, uncertainties and assumptions carefully in
evaluating the forward-looking information and are cautioned not to
place undue reliance on such information.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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