|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||1.3300 - 1.4000|
|52 Week Range||1.3300 - 6.3000|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The Flowr Corp.'s U.S.-listed shares rose 0.7% Tuesday, after the Canadian cannabis company announced a series of executive departures, including of its chief financial officer, chief strategy officer, chief research & innovation officer and chief policy and medical officer. The company said the changes are a realignment of the leadership culture to "drive improved operational and financial efficiencies." The company named Irina Hossu as CFO, replacing Alex Dann. Hossu was most recently vice president finance, corporate payments and emerging markets at Wex , a fintech company. She has also done stints at Revlon Canada , Molson Coors and Xerox Canada . MKM analyst Bill Kirk said the moves should better align the company with its current strategy. "As the Canadian market has evolved from a focus on growth via easy capital toward a focus on profitability with less available capital, companies, like Flowr, are wise to pursue efficiencies," he wrote in a note to clients. "The need to re-size leadership should not be a surprise." The company is now in better shape to pursue recreational cannabis in Canada and cultivation in Portugal. Europe is a key differentiator for the company and Portugal offers a better climate, cheaper workforce and lower transportation costs, said the note. Kirk rates the stock a buy with a C$4 ($3.03) price target that is almost three times its current price. U.S.-listed shares have fallen 53% in the last 12 months, while the ETFMG Alternative Harvest ETF has fallen 49% and the S&P 500 has gained 23%.
The Flowr Corporation Welcomes Irina Hossu as Chief Financial Officer and Announces Management Changes. TORONTO, Jan. 27, 2020 (GLOBE NEWSWIRE) -- The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (“Flowr” or the “Company”) is pleased to announce that Ms. Irina Hossu will be joining the Company as its new Chief Financial Officer on March 29, 2020.
The next four to six months will be tumultuous for the cannabis sector, pricing pressure will continue and about 50% of companies with Canadian licenses are facing bankruptcy. Those were some of the talking points at day two of the ICR Conference in Orlando, Fla., according to MKM analyst Bill Kirk, who highlighted the subdued tone at the event in an early note to investors. "With years of reckless spending, less growth than expected, limited access to capital markets, excess supply, and uncompetitive pricing (to illicit market), we generally agree," Kirk wrote. "And while there may be opportunities on the other side of the looming shakeout, we can't get excited about sector-wide upside." The analyst named Acreage and Flowr as two companies in attendance that he rates as buy. Acreage stock offers a wide discount to the deal price (the company will be acquired by Canopy Growth Corp. as soon as cannabis restrictions in the U.S. are lifted) and is improving profitability as states mature, he wrote. Flowr has fewer supply issues in the Canadian premium market and has better mix exposure to Portugal and Germany, he wrote. Kirk has neutral ratings on Tilray and Cronos . "It is very likely the negative outlook shared at ICR will come to fruition. Acreage and Flowr are opportunities within this set-up largely because they operate outside many of the issues," said the note. The ETFMG Alternative Harvest ETF has fallen 41% in the last 12 months, while the S&P 500 has gained 26%.
The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (“Flowr” or the “Company”) announced today that it has filed a preliminary short form base shelf prospectus (the “Shelf Prospectus”) with the securities regulators in each province of Canada, except for the Province of Quebec. “Although we have no immediate plans to raise capital through this Shelf Prospectus filing at this time, we believe it’s prudent to give the Company the flexibility to access capital in the future when opportunities emerge to continue executing on our global growth strategies,” said Vinay Tolia, Chief Executive Officer of The Flowr Corporation.
Pauric Duffy (“PD”) and Peter Comerford (“PC”) announce today that certain Series 1 voting convertible redeemable preferred shares (the “Preferred Shares”) in the capital of The Flowr Corporation (“Flowr” or the “Issuer”) will be converted into Common Shares (as defined below) on February 20, 2020. PD and PC previously acquired, through DFT Trading Limited (“Pauric Holdco”) and Pleiades Trading Ltd. (“Peter Holdco”), respectively, indirect ownership of an aggregate of 32,632,545 Preferred Shares (the “Consideration Shares”) as partial consideration for the sale of their respective interests in Holigen Holdings Limited (“Holigen”).
Vancouver, British Columbia--(Newsfile Corp. - December 5, 2019) - On national TV Sat. Dec. 7 & Sun. Dec. 8, 2019 - BTV- Business Television identifies movers in the cannabis and resource sectors giving investors exciting options.Discover Companies to Invest InClick company name to watch their TV feature:Neptune Wellness Solutions Inc. (TSX: NEPT) (NASDAQ: NEPT) - BTV catches up with a cannabis company and their unique extraction method with almost two decades ...
Toronto-based cannabis company Flowr Corporation (TSX.V:FLWR) (OTC: FLWPF) reported third-quarter net revenue of CA$1.34 million ($1 million), a figure the company said was affected by activities including construction and production actions at its Kelowna 1 facility. The company reported a net loss of CA$14.98 million versus CA$5.63 million in the same quarter of 2018, and a loss per share of CA$0.13, a wider loss than the CA$0.08 per share reported one year ago. "Our third quarter revenues were short of expectations as we continued to manage construction and production activities as well as ramp up sales and marketing," CEO Vinay Tolia said in a statement.
The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (“Flowr” or the “Company”) herein announces its financial and operational results for the third quarter ended September 30, 2019. In addition, the Company is providing a comprehensive corporate update to supplement third quarter 2019 results. The Company generated gross revenue of approximately $2.1 million and net revenue of approximately $1.3 million net of excise taxes, pricing concessions and product returns.
The Flowr Corporation (TSXV: FLWR; OTC: FLWPF) (“Flowr” or the “Company”) is pleased to announce that it has closed its previously announced credit facility from a syndicate of lenders led by ATB Financial (“ATB”) and including Farm Credit Canada. The $25 million facilities consist of a $24.5 million recapitalization term facility and a $500,000 revolving operating credit facility (together the “ATB Credit Facilities”). Pursuant to conditions of the ATB Credit Facilities, Flowr will receive a first tranche of funding of approximately $20.05 million on closing with the remaining of the recapitalization term facility available subject to certain conditions.
OTC: FLWPF) (“Flowr” or the “Company”) is pleased to announce Mr. Ivan Latysh has joined the Company as Chief Technology Officer. In this newly created position, Mr. Latysh will be responsible for developing and overseeing the execution of Flowr’s technology and data-driven strategies. He will collaborate with all departments including, finance, operations, sales and marketing to support the Company’s objectives. Mr. Latysh was most recently, and since 2015, Vice President, Information Technology at MedReleaf Corporation, a cannabis producer focused on the medical market. In addition, the Company has appointed Messrs.
OTC: FLWPF) (“Flowr” or the “Company”) is pleased to announce the completion of the acquisition of the remaining 80.2% interest in Holigen Holdings Limited (“Holigen”) by way of a share purchase agreement, as previously announced on June 24, 2019 (the “Acquisition”). “We are excited to complete the acquisition of Holigen and thereby add operations in Portugal and Australia to our existing Canadian platform. The combination of our extensive cannabis cultivation know-how and Holigen’s extensive pharmaceutical experience has the potential to create tremendous value. With an expected annual capacity of 500,000 kilograms, the Aljustrel cultivation asset in Portugal should allow us to be a significant producer in the global medical cannabis and active pharmaceutical ingredient (API) markets, initially in Europe and Australia-Asia,” said Vinay Tolia, Flowr’s Chief Executive Officer.
The next five days will still be full of news surrounding the cannabis space. We have compiled a list of main things that cannabis investors should be keeping an eye on this week. Ontario Lottery And New ...
TORONTO, Aug. 15, 2019 -- The Flowr Corporation (TSXV: FLWR; OTC: FLWPF) (“Flowr” or the “Company”) herein announces its financial and operational results for the quarter ended.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. TORONTO, Aug. 08, 2019 (GLOBE NEWSWIRE) -- The Flowr Corporation (FLWR.V) (FLWPF) (the “Company” or “Flowr”) is pleased to announce that it has closed its previously announced short form prospectus offering (the "Offering") of units of the Company (the "Offered Units"). A total of 10,610,000 Offered Units, consisting of one common share and one half of one common share purchase warrant, have been issued at a price of C$4.10 per Offered Unit, for aggregate gross proceeds of $43,501,000. Each whole warrant will be exercisable to acquire one common share (a “Warrant Share”) for a period of 24 months following the closing of the Offering at an exercise price of $5.00 per Warrant Share.
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. 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 release date of Flowr's financial results, 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 address specific patient needs in the medicinal market and other factors.
OTC: TTTSF) ("TruTrace") today announced that Flowr joined the Shoppers Drug Mart (“Shoppers”) medical cannabis verification pilot program (the “Pilot Program”), which was announced last month at the World Cannabis Congress. The Pilot Program is intended to increase transparency, interoperability and product identification within the medical cannabis industry.
In the coming weeks, Flowr expects to deliver a significantly larger shipment of clones, upon receipt of applicable export permits, which will position Aljustrel well for the planned 2019 planting and, ultimately, an expected first harvest later this year, pending final licensing. “INFARMED’s authorization to plant cannabis at Aljustrel is a major milestone in the development of this project, a cornerstone of our effort to service the global medical cannabis market. Aljustrel is one of the largest outdoor THC cultivation licenses in the developed world, and will be instrumental in providing large-scale, low-cost cannabis extract for pharmaceutical APIs, as well as oils to service the European medical markets,” commented Vinay Tolia, Flowr’s Chief Executive Officer.
Flowr (FLWPF) has been taking a beating lately, and now appears to be in oversold territory.Since it went public in September 2018, a lot of things worked against the company, including the stock market correction that happened in the fourth quarter.Consequently, its share price predictably got hammered. The positive is after that period of downward pressure, the company rebounded nicely, and I believe it has the potential to do so once again, even though its share priced has plummeted over 30 percent over the last month.Last quarter's performanceIn its latest earnings report Flowr showed that it had grown production by 8 percent over the previous quarter, coming in at 279.8 kilograms. In the reporting period it sold 211.2 kilograms. At face value it appears to be a negative performance when compared against prior sales, but the company prior sales of 406 kilograms in the fourth quarter included inventory buildup from previous quarters.As for sales per gram, Flowr was able to improve sequentially by increasing the amount from C$7.08 per gram in the fourth quarter to C$7.70 per gram in the first quarter.Once the smoke cleared in December the stock jumped from about $2.20 to $3.59 per share. That boost in share price came after the 14-day RSI dropped under 30.Negative catalystOne major thing has recently put downward pressure on the share price of Flowr, which was the withdrawing of its $94 million offering. Not all the news was bad though, as the company did announce it had made an agreement with underwriters led by GMP Securities to sell 10.61 units at $4.10 each, for a total of $43.5 million.The units represent one common of Flowr and one common share purchase warrant, according to the company.Each warrant includes the option of buying one common share of the company at a price of $5.00 per warrant in the 24 months after the closing of the offering. If exercised, it would bring the total raise to $50 million.The primary use of the funding will be to help finance the acquisition of Holigen Holdings Limited and build out production and cultivation facilities afterwards.August 8 is the expected closing date.Holigen Holdings Limited Flowr announced in June 2019 that it was going to acquire Holigen Holdings Limited. This has the potential to be a big play for international expansion, as well as a huge increase in its production capacity, which when fully operational, would match the approximate 500,000 kilograms in annual production that Canopy Growth (CGC) is moving toward.The planned facility named Aljustrel, is projected to be operational in the second half of 2019, and will be a 7 million square foot facility with the capacity to produce over 500,000 kilograms annually, as mentioned earlier.If it's able to execute and meet these guidelines, it would place Flowr only behind Aurora Cannabis is production capacity as the market stands today.Located in Portugal, it has the potential to produce among the lowest cost cannabis in the world, based upon climate and the the country's inexpensive workforce.It also provides access to the highly profitable cannabis market in the EU once it receives a license from Portugal. This would significantly bolster its international footprint.It is also building a network of partnerships with distributors serving Germany, Ireland, Poland and the UK. Once it starts producing some serious product it should have things in place to scale it fairly quickly.ConclusionI think Flowr is oversold at this time, based upon it dropping below a 14-day RSI of 30, and the market not seeming to be pricing in the future potential of Holigen Holdings Limited.With a probable short squeeze approaching and the negative news already priced in, it appears in the short term Flowr could be a solid trade.Further out, it has the potential to become among the top 3 cannabis producers in the world. The challenge there is once it achieves that distinction, assuming it executes on its strategy, what will the market in the EU in particular look like with Aurora Cannabis having such a strong position and lead in that market, as well as some smaller players.Flowr is a late comer to the cannabis market, but it has taken the right moves to give it a chance to grow significantly in the years ahead. Now what it has to do is prove it can generate enough revenue and eventually profits, in order to give it time to grow its business without burning its cash.If it can do so, it will reward long-term shareholders very well. It could do the same in the short-term for reasons already mentioned, but it isn't likely to sustainably hold once its share price enjoys a good bounce.See price targets and analyst ratings on TipRanks
OTC: FLWPF) (“Flowr” or the “Company”) is pleased to announce Mr. David Aronowitz, a former senior executive at The Scotts Miracle-Gro Company (“Scotts”), has joined the Company as Chief of Staff. In this new role, Mr. Aronowitz will be based at the Company’s Kelowna Campus and work closely with Tom Flow, Flowr’s Founder and Managing Partner, across a range of strategic and tactical areas critical to the successful ramp-up of the business. Mr. Aronowitz brings over 30 years' experience as a Board member, chief executive officer and Board counselor, chief legal officer and corporate secretary for both public and private companies in a variety of industries including service, consumer goods, retail and manufacturing businesses with significant experience internationally, both in Europe and Asia.