The Flowr Corporation (TSXV: FLWR; OTC: FLWPF) (“Flowr” or the
“Company”) is pleased to announce the development of a Clean Stock
Protocol, which is a propriety process to certify that Flowr’s
clones are free of pests and pathogens. The use of the Clean
Stock Protocol is in addition to industry standard Certificates of
Authenticity that attest to THC and CBD content.
Flowr is also pleased to announce it has
delivered its first shipment of clones. 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.
Only licensed cannabis retailers are permitted
to sell clones in Saskatchewan, so the Company selected Railway
Distributing (“Railway”) as its wholesale and distribution partner
in the province. Railway is expected to oversee the retail
availability of Flowr’s clones throughout the province.
“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. “Growing cannabis is
challenging and by providing clones that are certified clean, we
are aiming to assist growers by reducing uncertainty and enhancing
the likelihood of a successful harvest.”
The Clean Stock Protocol was developed in
partnership with Hawthorne Canada Limited (“Hawthorne”), a
subsidiary of The Scotts Miracle-Gro Company, a NYSE-listed
supplier of lawn, garden and hydroponics products.
About The Flowr Corporation
Flowr, through its subsidiaries, holds a
cannabis production and sales license 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 growing systems. Flowr expects to
provide premium-quality cannabis to the adult-use recreational
market and the medicinal market.
On behalf of The Flowr Corporation:Vinay
ToliaCEO and Director
CONTACT INFORMATION:
MEDIA: Sean GriffinVice President, Communications & Public
Relations(877) 356-9726 ext. 1526sean.griffin@flowr.ca
INVESTORS:Thierry ElmalehHead of Capital Markets(877) 356-9726
ext. 1528thierry@flowr.ca
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: statements relating to the Hawthorne and Railway
relationships, the ability to meet demand for cannabis cultivars in
various provinces, including in Saskatchewan, Flowr fulfilling all
purchase orders and the timing thereof, Flowr being positioned to
meet current and/or future demand, including in Saskatchewan, Flowr
meeting its commitments to the provinces and other partners,
Flowr’s ability to bring premium, quality products to the market,
including in Saskatchewan, Flowr providing customers in
Saskatchewan with a premium, clean product, statements with respect
to the Clean Stock Protocol being a significant output of the
Hawthorne partnership, the Clean Stock Protocol adding a level of
quality control and producing clones to establish and entrench
Flowr as a trusted source of cannabis genetics, the work at the
R&D facility supporting genetics, the work at the R&D
facility supporting the development and refinement of Hawthorne’s
existing products and new products, and providing Flowr with
critical insights to optimize growing conditions for a wide range
of cultivar and environmental conditions, growers in Saskatchewan
having the opportunity to benefit, and benefitting, from genetics
that are certified under the Clean Stock Protocol, Railway
overseeing retail availability of Flowr’s clones in Saskatchewan,
the Railway partnership design and initial phase of Flowr’s planned
nursery business, Flowr’s nursery business, Flowr’s assisting
growers by reducing uncertainty and complexity of growing cannabis,
Flowr striving to be a dependable source of premium quality
cannabis in Saskatchewan, Flowr’s facilities being designed in a
way that should enable it to provide customers with both high
quality products and consistent benefits, Flowr focusing on
providing premium-quality cannabis to recreational and medical
markets, 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 the Hawthorne and Railway partnerships,
the failure of the Clean Stock Protocol to add a level of quality
and control that will result in clones that will establish and
entrench Flowr as a trusted source of cannabis genetics, the Clean
Stock Protocol not enabling Flowr to produce pest and pathogen free
clones, the Clean Stock Protocol failing to be a significant output
of the Hawthorne relationship, the inability of Flowr to complete
or being delayed in completing the R&D facility, the R&D
facility not supporting the development and refinement of
Hawthorne’s existing products and new products, and further failing
to provide Flowr with critical insights to optimize growing
conditions for a wide range of cultivars and environmental
conditions, growers in Saskatchewan not benefiting from genetics
that are certified under the Clean Stock Protocol, Railway not
being able to oversee the availability of Flowr’s genetics, and
thus impacting sales in the Province, the Railway partnership not
providing an initial platform for Flowr’s planned nursery business,
Flowr failing to launch a nursery business, which could
significantly impact sales and growth for the Company, Flowr
failing to reduce the uncertainty and complexity of growing
cannabis, 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 the Province of Saskatchewan for any reason,
Flowr’s inability to provide customers with the experience they
want, which could impact sales, Flowr being unable to provide
Saskatchewan customers with a premium, clean product, which could
materially impact sales, Flowr not being able to provide
premium-quality cannabis that appeals to the adult-use recreational
and medical market, Flowr’s inability to excel at cultivating
premium cannabis, Flowr’s inability to construct its facilities, or
in the time anticipated, which could materially adversely impact
its growing capacity and sales, 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 failing to be a dependable source of premium quality
cannabis, Flowr failing to provide as many consumers as possible
with access to its products, which could materially impact sales,
Flowr’s customers not differentiating Flowr’s products or
cultivation expertise, 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 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 the
Hawthorne and Railway partnerships, 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.
The Flowr (TSXV:FLWR)
Historical Stock Chart
From Mar 2024 to Apr 2024
The Flowr (TSXV:FLWR)
Historical Stock Chart
From Apr 2023 to Apr 2024