The Flowr Corporation (TSXV: FLWR) (OTC: FLWPF) (“Flowr” or the
“Company”), a Canadian licenced producer of premium cannabis
products, announced today it will begin selling a wide selection of
cannabis cultivars in both clone and seed form in the second
quarter of this year.
“This is an exciting and potentially very big market for Flowr
that is a natural extension of our high yield, high quality
approach to cultivation,” said Tom Flow, Flowr’s Co-CEO.
“Growing great cannabis starts with great genetics and clean
healthy plants, something few companies are able to provide.
As we ramp up production, we believe Flowr will be able to offer
the select cultivars we use to produce our premium cannabis to
cultivators globally.”
The Company expects its highly efficient cultivation process
will allow it to produce more than 3.2 million high quality clones
on an annualized basis once its initial cultivation facility is
completed, which the Company expects to be by the end of the third
quarter of 2019. These clones will be incremental to the
Company’s cultivation process and therefore will be in excess of
what it needs for its retail and medical production.
Cannabis nursery businesses are an essential, established part
of most well-developed cannabis market supply chains and Flowr
believes that current demand for high-quality clones exceeds supply
given the rapid expansion of cultivation facilities in Canada and
globally. The Company received an expanded sales licence from
Health Canada in December 2018 permitting it to sell genetic
material.
Flowr believes there is an opportunity to sell cultivars in four
key markets: Canadian Licence Holders seeking high quality genetics
as they expand production; Micro-cultivators, a new Health Canada
licence subclass that can operate small “craft” cultivation
facilities; Export to producers in international markets; and,
Individuals purchasing through provincial or licenced private
retailers for personal use (“home growers.”)
The cultivars will be produced in Flowr’s Kelowna, BC
cultivation center, which is designed to Good Manufacturing
Practice (GMP) standards and employs proprietary systems and
processes to create a highly controlled growing environment that
Flowr believes reduces the risk of contamination.
About Flowr
The Flowr Corporation (TSXV: FLWR) (OTC: FLWPF), through its
subsidiaries, holds a cannabis production and sales licence granted
by Health Canada. With a head office in Markham, ON and a
production facility in Kelowna, BC, Flowr builds and operates
large-scale, GMP-designed cultivation facilities utilizing its own
patented 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 www.flowr.ca Follow Flowr on
Twitter: @FlowrCanada; Facebook: Flowr Canada; Instagram:
@flowrcanada; and LinkedIn: The Flowr Corporation.
On behalf of The Flowr Corporation:Tom
FlowCo-CEOForward-Looking Information
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 statements with
respect to: the launch of the clone and seed sales in the second
quarter of this year, Flowr selling a wide selection of cultivars
in both clone and seed form, the revenue and market opportunity for
Flowr with respect to its close and seed business, Flowr offering
the select cultivars it uses to produce its premium cannabis to
cultivators globally, Flowr’s highly efficient cultivation process
allowing it to produce more than 3.2 million high quality clones on
an annualized basis once its initial cultivation facility is
completed, Flowr completing the cultivation facility later this
year, Flowr producing high quality product at high yields, clones
being incremental to Flowr’s cultivation process and therefore
being in excess of what it needs for retail and medical production,
the current demand for high-quality clones exceeding supply, the
markets where Flowr believes it can sell cultivars and the
opportunity in those markets, Flowr’s facilities being designed and
constructed to GMP standards, Flowr’s facilities being highly
controlled growing environments that will enable it to reduce the
risk of contamination, the Company seeking to deliver premium
cannabis products, including cultivars, to its customers,
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 appeals to the adult-use
recreational market and addresses 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 risks relating to the
inability of Flowr to the launch clone and seed sales in the second
quarter of this year, which could materially adversely impact
Flowr’s financial results, Flowr not being able to sell a wide
selection of cultivars in both clone and seed form, the revenue and
market opportunity for Flowr with respect to its close and seed
business not being significant or Flowr forecasting a market that
is much larger than the market that will develop, which could
materially adversely effect its financial results, Flowr not being
able to offer the select cultivars it uses to produce its premium
cannabis to cultivators globally, which could materially adversely
effect Flowr’s financial results and/or reputation, Flowr’s
inability to produce more than 3.2 million high quality clones on
an annualized basis once its initial cultivation facility is
completed, which could materially adversely effect its financial
results, Flowr not completing or being delayed in completing its
the cultivation facility, which could result in Flowr losing market
share for its clones and seeds, Flowr not being able to produce
high quality product at high yields, which could materially
adversely effect its financial results and reputation, the clones
described herein not being incremental to Flowr’s cultivation
process and therefore resulting in Flowr not having excess clones
and seeds to sell to potential customers, which could materially
adversely effect its financial results, the current demand for
high-quality clones not exceeding supply, and therefore not
creating the market and revenue opportunity that Flowr expects
which could materially adversely effect its financial results,
Flowr not being able to sell cultivars in the markets where Flowr
believes it can sell cultivars, the opportunity in the markets that
Flowr believes that it can sell cultivars being significantly
smaller than expected would could materially adversely effect its
financial results, the inability of Flowr’s products providing
customers with a premium option, Flowr’s cultivation team failing
to achieve the standards or level of products described herein,
including with respect to quality and consistency of product
offerings, the inability of Flowr to construct or maintain its
facilities at GMP standards, which could significantly impact sales
of Flowr’s products, Flowr’s cultivation team not employing
exacting protocols throughout the growing and curing process, which
could impact the quality of the products and the experience for
customers, 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, which could
materially adversely impact its growing capacity and sales, Flowr’s
inability to achieve the clone and seed capacity described herein
on an annualized basis, which could materially adversely impact
sales and profits, demand for cannabis products decreasing,
including with respect to Flowr’s products, the inability of Flowr
to provide what it perceives to be much-needed, high quality
product to the market, the inability of Flowr to control the
growing environment in its facilities, which could result in loss
of products or the need to irradiate products, thus impacting the
supply and demand for and/or quality of the products, Flowr
requiring additional financing from time to time in order to
continue its operations and construct the facilities described
herein 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,
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.
- ends -
Jim Walsh
The Flowr Corporation
+1-607-275-7141
jwalsh@flowr.ca
Bruce Dunbar
The Flowr Corporation
+1-917-756-4065
bdunbar@flowr.ca
For Investors Only: Bram Judd
The Flowr Corporation
+1-905-940-3993 ext.1520
bram@flowr.ca
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