The Flowr Corporation (TSXV: FLWR) (“Flowr” or “Company”), a
Canadian cultivator of premium cannabis, announced today a
strategic partnership with Ace Valley, a new brand of cannabis
products for the upcoming adult-use recreational market created by
the team behind Ace Hill Beer. Ace Valley’s curated
product portfolio of pre-rolled joints and premium dried flower
applies the Ace Hill Beer team’s deep understanding of consumer
values and trends to the cannabis market, while leveraging Flowr’s
expertise in cultivation.
Ace Valley’s flagship products will be pre-rolled joints
available in two strains: Ace Valley Sativa and Ace Valley CBD,
both grown and craft-cured by Flowr’s expert cultivators in the
world-famous Okanagan Valley of British Columbia. Ace Valley
products will be available through the Ontario Cannabis Store and
stores operated by the British Columbia Liquor Distribution Board
beginning on or about October 17, 2018.
“We’ve learned a lot about the kinds of products mainstream
craft consumers want,” said Mike Wagman, co-founder and CEO of Ace
Hill and of Ace Valley. “We’re carrying these lessons over
into Ace Valley with a focus on products that we believe are both
premium and simple.”
“From the start, Flowr and Ace Valley shared a commitment to
creating high quality, authentic products for customers,” said
Steve Klein, Chairman and Chief Strategist for Flowr. “We
believe that our focus on innovation, craftsmanship and consistency
in cultivation and Ace Valley’s expertise around the craft consumer
is a natural fit and provides the foundation for these initial Ace
Valley products.”
Flowr builds and operates large-scale indoor cannabis
cultivation facilities built with proprietary designs and systems.
After carefully cultivating its flower, the Company hand
trims and craft cures its products. Flowr expects its exacting
protocols to help it produce cannabis that provides a high-quality,
consistent consumer experience. The Company’s 85,000 square
foot Kelowna, British Columbia cultivation facility, where Ace
Valley cannabis is grown, is currently approximately 20% complete
and slated for full completion early in 2019.
“We know the craft consumer values exceptional quality and
wanted to work with Flowr because we’re confident their team and
world-class facilities can deliver premium pre-rolls and dried
flower that Ace Valley can be proud of,” Ace Valley’s Wagman
said.
Ace Hill has risen from launch in 2016 to having the #1 and #4
top-selling craft beers in Toronto liquor stores and having a
partnership as the official beer of Porter Airlines. Ace Hill
attributes its rapid growth to offering a unique portfolio of
premium and light beverages made to appeal to mainstream craft
consumers.
“This is an important partnership for us because it demonstrates
what customer-focused companies can accomplish,” said Flowr’s
Klein. “While other recent partnerships and investments have
focused on a cannabis beverage market that’s at least a year away,
Flowr and Ace Valley have found a way to connect with consumers and
have premium Ace Valley products on shelf at the beginning of
recreational cannabis sales in Ontario and British Columbia.”
The companies finalized the terms of the partnership on August
30, 2018.
About Ace Valley
Ace Valley is a new cannabis brand focused on quality and
simplicity. Ace Valley has initially developed a highly-curated
selection of pre-rolled joints and dried flower with the expert
growers at Flowr in Okanagan Valley, British Columbia. These
products are expected to be available for sale in Ontario and
British Columbia when adult-use recreational cannabis is legalized
in Canada on October 17, 2018. Ace Valley is also developing
additional value-add cannabis products, including vape pens and
cannabis beverages, to be sold in Canada when allowed by
regulations. Ace Valley is created by the team behind Ace Hill, one
of Canada’s fastest-growing beer companies.
About Flowr
The Flowr Corporation (TSXV: FLWR), through its subsidiaries, is
a vertically integrated Canadian cannabis company focused on the
natural science of cannabis. With head offices in Markham, ON
and production in Kelowna, BC, Flowr builds and operates
large-scale, GMP designed cultivation facilities utilizing its own
patented growing systems. Flowr’s investment in research and
development ensures that its master growers are able to supply
patients with consistent, high-quality medicinal cannabis. With a
sense of craftsmanship and a spirit of innovation, Flowr is also
well positioned with a line of premium quality cannabis products
for the upcoming adult-use market.
For more information, visit www.flowr.ca Follow Flowr on
Twitter: @FlowrCanada; Facebook: Flowr Canada; Instagram:
@flowrcanada; and LinkedIn: The Flowr Corporation
On behalf of The Flowr Corporation
Steve Klein
Chairman & Chief Strategist
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
Notice regarding forward-looking information:
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, Ace Hill’s
success and growth, Ace Valley’s offerings, including its
consistency, convenience and portability, the expected date of
distribution and sale of the products described herein, the
products described herein being premium and simple, the commitment
to high quality, authentic products for customers, Flowr’s
exacting protocols helping it produce cannabis that is high quality
and consistent, the timing for completion of Flowr’s cultivation
facility, Ace Hill’s confidence in Flowr and its ability to deliver
premium products and products that customers will enjoy, the
leveraging of Flowr’s expertise, Ace Hill’s deep understanding of
consumers values and trends in the cannabis market and their
ability to leverage this understanding, Ace Hill’s expertise about
the craft customer and this providing the foundation for Aced
Valley products, statements relating to the partnership between
Flowr and Ace Hill, additional products that Ace Hill is developing
to be sold in Canada, Flowr’s ability to bring premium, quality
products to the market and other factors. 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 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 these 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 Flowr requiring additional financing
from time to time in order to continue its operations and such
financing may not be available when needed or on terms and
conditions acceptable to the Company, new laws or regulations
adversely affecting the Company’s business and results of
operations, results of operation activities and development of
projects, project cost overruns or unanticipated costs and
expenses, the partnership with Ace Hill not being successful, the
inability of Ace Valley products to be consistent, convenient
and/or portable, the inability of Flowr to produce and distribute
premium, high quality and/or simple products, the inability of Ace
Valley to create a high quality, authentic experience for
customers, the inability to leverage Ace Hill’s or Flowr’s
expertise in marketing products, the inability to complete
construction of Flowr’s cultivation facility or any delay in the
construction thereof, the inability to supply the products
described herein or any delay in such supply, Flowr’s securities,
the inability to generate cash flows, revenues and/or stable
margins, the inability to grow organically, risks associated with
the geographic markets in which Flowr operates and/or distributes
its products, risks associated with fluctuations in exchange rates
(including, without limitation, fluctuations in currencies), risks
associated with the use of Flowr’s products to treat certain
conditions, the cannabis industry and the regulation thereof, the
failure to comply with applicable laws, risks relating to
partnership arrangements, possible failure to realize the
anticipated benefits of partnership arrangements, including those
discussed herein, product launches (including, without limitation,
unsuccessful product launches), the inability to launch products
(including those described herein), the failure to obtain
regulatory approvals, economic factors, market conditions, risks
associated with the acquisition and/or launch of products, the
equity and debt markets generally, risks associated with growth and
competition (including, without limitation, with respect to Flowr’s
products), general economic and stock market conditions, risks and
uncertainties detailed from time to time in Flowr’s filings with
the Canadian Securities Administrators 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, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. No forward-looking information can be
guaranteed. Except as required by applicable securities laws,
forward-looking information speaks only as of the date on which it
is made and Flowr undertakes no obligation to publicly update or
revise any forward-looking information, whether as a result of new
information, future events, or otherwise.
- ends -
Jim Walsh
The Flowr Corporation
+1-607-275-7141
jwalsh@flowr.ca
Bruce Dunbar
The Flowr Corporation
+1-917-756-4065
bdunbar@flowr.ca
For Investors: Alex Dann
The Flowr Corporation
+1-416-464-4067
adann@flowr.ca
For Ace Valley:
hello@acevalley.com
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