The Flowr Corporation (TSXV: FLWR), through its subsidiary The
Flowr Group (Okanagan) Inc. (collectively “Flowr” or the
“Company”), announced today that it has made an initial
delivery of its premium cannabis
products to the British Columbia Liquor
Distribution Board (“BCLDB”) and expects to fulfill
the entire initial purchase order it received from the BCLDB
by October 17, 2018. The BCLDB is the sole
legal wholesaler of non-medical cannabis in the
Province.
After fulfilling orders from authorities in BC, Nova
Scotia and Ontario, Flowr expects its products to be
available to more than half the population of Canada1 on or
about October 17, 2018, the expected date of national
legalization of adult recreational-use
cannabis.
Flowr is supplying British Columbia with several
strains of Flowr brand cannabis and the two strains
of Ace Valley cannabis it produces through its
partnership with the new brand created by the team behind
Ace Hill Beer. Flowr and Ace Valley strains are
available as both loose flower and in pre-rolls. Both
Flowr and Ace Valley cannabis is grown at
Flowr’s GMP-designed cultivation facility
in Kelowna, BC in the world-famous Okanagan Valley.
“This is an exciting time for everyone in the cannabis
industry in British Columbia as well as consumers in
the Province. We’re proud to carry on
the Okanagan’s tradition of excellence in cultivation and
work with our partners at the BCLDB to provide the outstanding
cannabis experience consumers will want beginning on
day one of adult-use legalization,” said Tom Flow,
Co-Founder and President of Flowr.
Flowr was named a supplier to
the BCLDB in July for both its Flowr and Ace
Valley products. The Company was named a
supplier to authorities in Ontario for Flowr and Ace
Valley products and Nova Scotia for
Flowr products as
well. Flowr also recently announced it
had begun sales of its FlowrRx branded medical cannabis
products nationally through clinics and the Flowr
website.
Flowr is headquartered in Markham, Ontario and is
constructing both an 85,000 square foot cultivation facility
and, through a
strategic R&D alliance with Hawthorne Canada
Limited, a subsidiary of The Scotts Miracle-Gro Company (NYSE:
SMG), a 50,000 square foot R&D facility in
Kelowna, BC.
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 is expected to
enable its cultivation team 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 Thomas
Flow President
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 is not limited
to: the ability to meet demand for cannabis in various
provinces, Flowr fulfilling all purchase orders and the
timing thereof, Flowr having its products available to
half of Canada’s population, Flowr’s ability to contribute
to Okanagan’s tradition of excellence in cultivation and
provide an outstanding cannabis experience
consumers want, Flowr being positioned to meet future
demand, Flowr meeting its commitments to the provinces and
other partners, Flowr’s ability to bring premium, quality
products to the market, Flowr’s investment in research and
development enabling its cultivation team to supply patients with
consistent, high quality medicinal cannabis 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 not being able to meet demand or fulfill purchase
orders, which could materially impact revenues and its
relationships with purchasers, Flowr’s inability to make its
products available to half of Canada’s population, Flowr’s
inability to provide customers with the experience they want, which
could impact sales, 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 inability of Flowr’s products to be high quality, the
inability of Flowr to produce and distribute premium, high quality
products, the inability to complete construction of Flowr’s
cultivation or R&D 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, product launches
(including, without limitation, unsuccessful product launches), the
inability to launch products, 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.
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.
- 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
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