|Bid||2.9000 x 0|
|Ask||2.9900 x 0|
|Day's Range||2.8800 - 3.2400|
|52 Week Range||2.7400 - 8.4200|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||7.65|
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.
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.
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.
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.
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.
TORONTO, May 17, 2019 -- The Flowr Corporation (TSXV: FLWR; OTC: FLWPF) (“Flowr” or the “Company”), herein announces its financial and operational results for the first quarter.
OTC: FLWPF) (“Flowr” or the “Company”), a Canadian Licensed Producer and global leader in premium cannabis R&D, innovation, and cultivation, is pleased to announce that, further to its news release dated April 29, 2019, it has completed a non-brokered private placement of 2,165,547 common shares at a price of C$6.25 per common share for aggregate gross proceeds of approximately C$13.5 million (the “Private Placement”). All securities issued under the Private Placement are subject to the customary four-month hold period and may not be traded before September 11, 2019. In addition, common shares issued to subscribers in the United States will be subject to a hold period under the U.S. Securities Act of 1933, as amended (the "1933 Act") and can only be resold in strict compliance with the applicable exemptions from the registration requirements of the 1933 Act.
OTC: FLWPF) (“Flowr” or the “Company”), a Canadian Licensed Producer and global leader in premium cannabis R&D and innovation, today provided a corporate update on various matters. Flowr intends to complete a non-brokered private placement of up to 2,400,000 common shares of Flowr at a price of C$6.25 per common share for aggregate gross proceeds of up to C$15 million (the “Private Placement”). The Company expects to use the proceeds of the Private Placement for general working capital purposes, including for the funding of construction of certain operations of Holigen Holdings Limited (“Holigen”).
OTC: FLWPF) (“Flowr” or the “Company”), a Canadian Licensed Producer and global leader in premium cannabis R&D, innovation, and cultivation, today announced its results for the fourth quarter and full year ended December 31, 2018. The Company’s financial statements and management’s discussion and analysis for the periods are available on SEDAR at www.sedar.com.
The Company will also host a conference call and webcast to review these results. Separately, Flowr also announced that it has engaged Proactive Investors (www.proactiveinvestors.com), a leading multi-media news organization, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London. Neither Proactive Investors nor any of its principals have an ownership interest, directly or indirectly, in Flowr or its securities, and the Company has not granted Proactive Investors or its principals any right to acquire such interests.
OTC: FLWPF) (“Flowr” or the “Company”) today announced its FlowrRx products are now available for purchase through Shoppers Drug Mart’s online medical cannabis site, shoppersdrugmart.ca/cannabis. This new relationship represents a major milestone in the de-stigmatization of medical cannabis’ place in mainstream medicine, and in simplifying cannabis delivery in Canada. Medical Cannabis by Shoppers Drug Mart is currently available only to patients in Ontario.
The Flowr Corporation (FLWR.V) (FLWPF) (“Flowr” or the “Company”), a Canadian licensed producer of premium cannabis products, today announced the promotion of Jason Broome to the role of Chief Research and Innovation Officer (CRIO). Mr. Broome previously served as Senior Vice President of Operations. As CRIO, Mr. Broome will develop new high-quality products and lead Flowr’s research into cultivars, form factors and delivery systems for the global markets. He will also oversee Flowr’s state-of-the-art R&D facility, part of an exclusive partnership with Hawthorne Canada, a subsidiary of The Scott's Miracle-Gro Corporation (SMG). “Flowr’s product innovation portfolio must meet the world-class standards of our cultivation,” said Tom Flow, Flowr's Co-CEO.