The Flowr Corporation Announces 2021 AGM Results
June 09 2021 - 12:30PM
The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF)
(“
Flowr” or the “
Company”) is
pleased to announce results of voting at its annual general meeting
of shareholders that was held today in Toronto, Ontario.
All matters submitted to the shareholders for
approval as set out in the Company’s Notice of Meeting and
Information Circular dated May 10, 2021 were approved, including
the election of Noel Biderman, Darryl Brooker, Jorg Cieslok, Donald
Duet, Thomas Flow, Michael Galego, Vincent Gasparro, Joanne Lee and
Maurice Levesque as directors of the Company. The directors will
hold office until successors are duly elected or appointed.
Additionally, in accordance with the rules and policies of the TSX
Venture Exchange, the Corporation’s shareholders approved the Stock
Option Plan. The Corporation’s shareholders also re-appointed MNP
LLP, as the Corporation’s auditors to hold office until the next
annual general meeting of shareholders or until its successor is
duly appointed.
About The Flowr Corporation
The Flowr Corporation is a Toronto-headquartered
cannabis company with operations in Canada and Europe. 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 awaiting licensing from Health Canada. 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 Portugal.
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:
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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