The Flowr Corporation (TSXV: FLWR) (OTC: FLWPF) (“Flowr” or the
“Company”), a Canadian licenced producer of premium cannabis
products, announced today that it has submitted an application to
list its common shares on The NASDAQ Capital Market (“NASDAQ”) and
has filed a Form 40-F Registration Statement with the U.S.
Securities and Exchange Commission (“SEC”).
The listing of Flowr’s shares on the NASDAQ will be subject to a
number of regulatory requirements, including registration of the
common shares with the SEC and a determination by the NASDAQ that
Flowr has satisfied all applicable listing requirements.
Subject to approval for listing, the common shares will continue to
trade on the TSX Venture Exchange (TSXV) under FLWR. A
trading date will be made public once all regulatory formalities
are satisfied.
"Flowr has made tremendous progress executing on its business
plan since becoming a public company last year and we believe the
Company is well positioned to pursue additional growth
opportunities," said Vinay Tolia, Flowr’s Co-CEO. "A NASDAQ listing
is an important step forward for Flowr because we believe it will
broaden our access to international investors as we become a truly
global company."
About Flowr
The Flowr Corporation (TSXV: FLWR) (OTC: FLWPF), through its
subsidiaries, holds a cannabis production and sales licence granted
by Health Canada. With a head office in Toronto and a
production facility 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 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.
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:
Vinay Tolia
Co-CEO
Notice Regarding Forward-Looking Information
This press release includes forward‐looking statements within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and forward‐looking information within the
meaning of Canadian securities laws. Any statements contained in
this news release that are not statements of historical fact may be
deemed to be forward-looking statements. Often, but not
always, forward-looking information can be identified by the use of
words such as “plans”, “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”, “should”, “would”, “might” or “will” be
taken, occur or be achieved. Forward-looking statements regarding
Flowr and its business include, but are not limited to, statements
with respect to: the potential listing of Flowr’s common shares on
NASDAQ, the timing thereof, the benefits to be provided to the
Company by a NASDAQ listing, opportunities for Flowr’s growth,
Flowr becoming a truly global company, Flowr’s exposure to
international investors and the liquidity of Flowr’s securities,
Flowr’s facilities being designed and constructed to GMP standards,
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 addresses specific patient needs in the medicinal market
and other factors. 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 the
listing of Flowr’s securities on the NASDAQ, the failure to obtain
necessary approvals to list and register Flowr’s securities in the
United States, a shutdown of the United States government, the
NASDAQ listing not providing Flowr with broadened access to
international investors or enhance Flowr’s liquidity, the Company
not expanding globally, which could result in the Company not
having a diversified business platform for growth, the Company not
being well positioned to pursue additional opportunities for
growth, or such opportunities no longer being available to Flowr,
the inability of Flowr to construct or maintain its facilities at
GMP standards, which could significantly impact sales of Flowr’s
products, Flowr’s cultivation team not employing exacting protocols
throughout the growing and curing process, which could impact the
quality of the products and the experience for customers, Flowr not
being able to provide premium-quality cannabis that appeals to the
adult-use recreational market and addresses specific patient needs
in the medicinal market, demand for cannabis products decreasing,
including with respect to Flowr’s products, the inability of Flowr
to provide what it perceives to be much-needed, high quality
product to the market, the inability of Flowr to control the
growing environment in its facilities, which could result in loss
of products or the need to irradiate products, thus impacting the
supply and demand for and/or quality of the products, Flowr
requiring additional financing from time to time in order to
continue its operations and construct its facilities 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 supply products or any
delay in such supply, which could result in significant penalties
or costs being imposed on Flowr, 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, the cannabis industry and the
regulation thereof, the failure to comply with applicable laws, 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 Securities and Exchange Commission and
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 Only: Bram Judd
The Flowr Corporation
+1-905-940-3993 ext.1520
bram@flowr.ca
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