The Flowr Corporation Enhances Executive Leadership Team
July 23 2019 - 04:00PM
The Flowr Corporation (TSX.V: FLWR; 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.
“We are excited for David to join our team and
are looking forward to the contributions he can make based on his
vast experience across numerous sectors applicable to the cannabis
industry,” commented Mr. Flow. “We worked closely with David
when he was a senior executive at Scotts, where he devised the
concept of teaming with Flowr to build and operate a
one-of-its-kind cannabis research and development facility on our
Kelowna Campus. Without his creativity and determination,
this innovative facility would never have come into existence.”
Prior to joining Flowr and since 2013, Mr.
Aronowitz served as Head of Mergers & Acquisitions (“M&A”)
of Scotts where he led all M&A activities including the
deployment of over USD$1 billion in capital. Concurrently, he
also served as Chief of Staff to Scotts’ Chief Executive
Officer. Between 2008 and 2013, Mr. Aronowitz was the Chief
Executive Officer and President of the Gnoêsis Group, LLC, a legal
staffing and consulting company. He was a Director of
Glimcher Realty Trust, which traded on the New York Stock Exchange,
from 2006 until 2015, when the company was acquired by Washington
Prime Group.
Mr. Aronowitz holds a Bachelor of Arts from
Haverford College and a Juris Doctor from Yale Law School.
In addition, Flowr also announced today that the
board of directors of the Company has approved the granting of
150,000 incentive stock options (the “Options”) and 50,000
restricted share units (the “RSUs”) to an officer of the Company.
The Options are exercisable at a price of CAD$4.00 per share for a
period of five years. The Options and RSUs will vest as to
thirty-three and one-third percent (33⅓%) on each anniversary of
the date of commencement of employment for the officer.
About the Flowr Corporation
Flowr, through its subsidiaries, holds cannabis
production and sales licenses 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 and Statements
This press release contains “forward-looking
information” within the meaning of Canadian Securities laws and
“forward-looking statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and other
applicable United States safe harbor laws, which may include, but
are not limited to: Mr. Aronowitz’s working closely with Tom Flow
across a range of strategic and tactical areas which are critical
to successful ramp up of the business; Mr. Aronowitz’s experience,
including, in businesses with significant experience
internationally, both in Europe and Asia; Mr. Aronowitz making
contributions to Flowr based on his vast experience across numerous
sectors applicable to the cannabis industry; Flowr providing
premium-quality cannabis to the adult-use recreational market and
the medicinal market; and Flowr’s business, production and
products. 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 information and
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 such information and 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
inability of Mr. Aronowitz to work closely with Tom Flow across a
range of strategic and tactical areas; Mr. Aronowitz not having the
experience that can be utilized in the cannabis industry or that
can make Flowr successful; the construction and development of the
Company’s cultivation and production facilities; general economic
and stock market conditions; adverse industry events; the inability
of Flowr to produce and distribute premium cannabis; loss of
markets; future legislative and regulatory developments in Canada,
the United States and elsewhere; the cannabis industry in Canada
generally; the ability of Flowr to implement its business
strategies; 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 or statements, there may be other
factors that cause actions, events or results to differ from those
anticipated, estimated or intended. No forward-looking information
or statement can be guaranteed. Except as required by applicable
securities laws, forward-looking information and statements speak
only as of the date on which they are made and Flowr undertakes no
obligation to publicly update or revise any forward-looking
information or statements, whether as a result of new information,
future events or otherwise. When considering such forward-looking
information and statements, readers should keep in mind the risk
factors and other cautionary statements in Flowr’s Annual
Information Form dated April 3, 2019 (the “AIF”) and filed with the
applicable securities regulatory authorities in Canada and the
United States. The risk factors and other factors noted in the AIF
could cause actual events or results to differ materially from
those described in any forward-looking information or
statements.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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