|Bid||0.0000 x 0|
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|Day's Range||2.1300 - 2.3100|
|52 Week Range||2.0700 - 6.3000|
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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.
Each unit will consist of one common share of the company and one common share purchase warrant, according to Flowr. In addition, each warrant carries the right to buy one common share in the 24 months following the closing of the offering at a price of $5 per warrant share. Benzinga's Cannabis Capital Conference heads to Detroit on Aug. 15 — click here to learn more!
TORONTO , July 22, 2019 /CNW/ - The Flowr Corporation (FLWR.V) (FLWPF) (the "Company" or "Flowr") announced today that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. (the "Lead Underwriter" and, collectively with the syndicate, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis pursuant to the filing of a short form prospectus, an aggregate of 10,610,000 units (the "Units") of the Company at a price of $4 .10 per Unit (the "Offering Price") for aggregate gross proceeds to Flowr of $43,501,000 (the "Offering"). Each Unit will be comprised of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant").
OTC: FLWPF) (“Flowr” or the “Company”) has decided, at this time, to withdraw its previously announced public offering (the “Offering”) as set forth in the (final) short form base PREP prospectus filed on July 18, 2019, with the securities regulatory authorities in each of the provinces of Canada except Quebec (the “Prospectus”). The Company is not proceeding with the Offering due to prevailing market conditions, which were not conducive to the completion of the Offering on terms that would be in the best interest of Flowr’s current shareholders. Flowr will continue to monitor market conditions as it evaluates options to drive long-term growth. The Prospectus was also filed in the United States with the United States Securities and Exchange Commission as part of a registration statement on Form F-10 (the “Form F-10”), in accordance with the Multijurisdictional Disclosure System established between Canada and the United States. No securities have been sold in connection with the Offering pursuant to the Form F-10.
OTC: FLWPF) (“Flowr” or the “Company”) is pleased to announce receipt of a second site cultivation license from Health Canada for its Flowr Forest project. The Company has begun transplanting select cultivars and is on track for a first harvest in the fourth quarter of 2019. Flowr expects to produce approximately 10,000 kilograms per annum from Flowr Forest once fully optimized and operational. Flowr Forest, which is located on the Company’s Kelowna campus, has 42 greenhouses totaling 189,000 square feet situated within a total licensed outdoor grow area of more than 530,000 square feet. The outdoor cultivation area planted is expected to be 150,000 square feet and can be expanded to include an incremental 160,000 square feet. The Company in total has over 750,000 square feet dedicated to Flowr Forest’s current and future operations and has a right of first refusal on an additional 850,000 square feet located immediately to the north and contiguous with the currently licensed area.
Growers in Saskatchewan will have the opportunity to benefit from genetics that are certified under the Clean Stock Protocol during the first growing season in Canada. “We are excited to partner with Railway to bring our trusted cannabis cultivars to the Saskatchewan market as an initial phase of our planned nursery business,” said Jason Broome, Flowr’s Chief Research and Innovation Officer.
OTC: FLWPF) (“Flowr” or the “Company”) announced today that it has commenced an underwritten public offering of common shares for approximately C$125,000,000 (the “Offering”). As part of the Offering, the Company expects to grant the underwriters an option to purchase an additional 15% of the number of common shares sold in the Offering at the offering price for 30 days following closing. The Offering is expected to be priced in the context of the market, with the final terms of the Offering to be determined at the time of pricing.
Canadian cannabis company Flowr Corp (OTC: FLWPF) will acquire Holigen Holdings Limited. The company recently announced an investment that would leave it with ownership of 19.8% of Holigen. Need more cannabis news?
OTC: FLWPF) (“Flowr” or the “Company”) announced today that it has entered into a definitive agreement (the “Agreement”) to acquire (the “Acquisition”) the remaining 80.2% interest in Holigen Holdings Limited (“Holigen”) by way of a share purchase. Flowr previously announced its intention to acquire 19.8% of Holigen. Upon the Closing of the Acquisition, Flowr expects to own 100% of the issued and outstanding shares of Holigen.
OTC: FLWPF) (“Flowr” or the “Company”) is pleased to announced that the Corporation has received a loan commitment from a syndicate of lenders led by ATB Financial (“ATB”) in its capacity as lead arranger and administrative agent for up to $50,000,000 of committed senior secured credit facilities (the “ATB Credit Facilities”). Pursuant to the ATB Credit Facilities, the Corporation will be permitted to use a recapitalization term facility and a revolving operating credit facility for general working capital purposes and a development facility for the development of its Kelowna 1 Facility, Kelowna 2 Facility and Flowr Forest. The ATB Credit Facilities will have a maturity day of three (3) years. Under the terms of the ATB Credit Facilities, the Corporation will be subject to certain financial, positive and negative covenants. In addition, the ATB Credit Facilities provide for an accordion of up to $50,000,000. The applicable margins for the ATB Credit Facilities is based on certain performance-pricing grids, ranging from 250 bps to 325 bps for bank acceptances and letters of credit, 125 bps to 200 bps for prime loans, and certain standby fees.
OTC: FLWPF) (“Flowr” or the “Company”) today announced the Company will participate at Piper Jaffray’s 39th Annual Consumer Marketplace Conference, being held on Thursday, June 6, 2019, at The Pierre New York in New York City. The Company is also advancing its ambitions to secure distribution in additional Canadian jurisdictions, including Alberta which is the largest volume market where Flowr products are not currently available. Flowr branded recreational products are currently available in Ontario, British Columbia, Manitoba, Nova Scotia and Saskatchewan, and FlowrRx® products for the medicinal market are available through Shoppers Drug Mart.
The approval puts Flowr on track to become the latest cannabis company to have its common shares listed on the Nasdaq. When announcing its application submission in February, company co-CEO Vinay Tolia said a Nasdaq listing could make the company more accessible and attractive to a broader range of investors. Tolia shared similar sentiments in a Thursday press release announcing the company's Nasdaq approval.
OTC: FLWPF) (“Flowr” or the “Company”), a Canadian Licensed Producer with an expanding global cannabis production platform, is pleased to announce that the Nasdaq Stock Market (“Nasdaq”) has approved the Company’s application to have its common shares listed on the Nasdaq Capital Market. A trading date will be announced by the Company upon the Company’s Form 40-F registration statement becoming effective with the United States Securities and Exchange Commission. The common shares will be listed on the Nasdaq under the symbol “FLWR”. The Company's common shares listed on the TSX Venture Exchange will continue to trade under the symbol FLWR. “We have made tremendous progress against our strategic priorities in 2019, and the approval of our listing on the Nasdaq further enhances our capital markets objectives.