The Flowr Corporation Applauds first Market Authorization Approval in Portugal
February 03 2021 - 6:00AM
The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF)
(“
Flowr” or the “
Company”)
provides commentary on the decision by INFARMED, I.P.
(“
INFARMED”), Portugal’s National Authority of
Medicines and Health Products, to approve the first market
authorization which will allow a licensed producer of medical
cannabis to release products in Portugal.
“We applaud the decision by INFARMED, which was
the first of its kind, to allow patients to have access to medical
cannabis products in Portugal through indication-specific market
authorizations. The Portuguese government is forward thinking in
its approach to improving the quality of life for Portuguese
patients as scientific data continues to mount regarding medical
cannabis as both safe and efficacious in treating a variety of
conditions,” commented Pauric Duffy, Flowr’s Managing Director of
Europe. “This ground-breaking decision sets the stage for Flowr to
pursue market authorizations to serve Portuguese and European
patients with medical cannabis produced from our world class local
facilities in Sintra and Aljustrel,” commented Lance Emanuel,
President and Interim CEO of Flowr.
In March 2020, Flowr announced that its
wholly-owned subsidiary in Europe, Holigen Holdings Limited
(“Holigen”), received its Good Manufacturing
Practice (GMP) certification in accordance with European Union
standards, for its indoor manufacturing facility located in Sintra,
Portugal. The GMP certification was issued by INFARMED. Holigen is
in the process of conducting stability testing on certain of its
high-THC genetics and expects results within 2021.
Located just outside of Lisbon, Holigen’s Sintra
facility is a purpose-built facility with six grow rooms, a
research and development lab and an expected extraction processing
facility. The Sintra facility is capable of producing approximately
2,000 kilograms of premium dried flower when fully optimized.
Holigen’s European operations also include the Aljustrel facility
which has more than 5,000,000 square feet of outdoor grow space and
greenhouse capacity, capable of producing in excess of 500,000
kilograms of cannabis when fully operational.
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:Lance
EmanuelPresident and Interim CEO
CONTACT INFORMATION:
INVESTORS & MEDIA:Thierry ElmalehHead of Capital
Markets(877) 356-9726 ext.
1528thierry@flowr.caForward-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 statements made concerning: the
implementation of innovative new glass jars for the Company’s dried
flower products, and the impact thereof on Flowr’s product
positioning; and high THC cultivar launches and the timing and
formats thereof. 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: 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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