The Flowr Corporation (TSX.V: FLWR) (OTC: FLWPF), a
Canadian-licensed producer of premium cannabis products, late Monday issued a
corporate update on various matters. The company first outlined its intention
to complete a non-brokered private placement of up to 2.4 million common
shares, at a price of C$6.25 per share, for aggregate gross proceeds of up to
C$15 million. Flowr also affirmed its support of Holigen’s proposed €45 million
investment in Portugal to produce medicinal cannabis outdoors. Other topics
covered in the corporate update included changes to the company’s board of
directors and its appointment of Thierry Elmaleh as its new head of capital
markets. Notably, Elmaleh brings more than 15 years of progressively more
senior leadership experience in capital markets to the Flowr team. “Through
leading each round of financing for the Company, Core Flow has a strong
conviction in Flowr’s edge in designing and constructing highly efficient
facilities and producing high quality cannabis products,” Steve Klein of Core
Flow Canada Holdings Inc., an investor participating in the proposed private
placement, stated in the news release. “Moreover, Flowr is building a company,
from its management team to cultivators, that I believe is second to none.”
To view the full press release, visit http://ibn.fm/Q1SC1
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, British Columbia, Flowr builds and operates
large-scale, GMP-designed cultivation facilities utilizing its own growing
systems. Flowr’s investment in research and development along with its sense of
craftsmanship and spirit of innovation is expected to enable the company 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 the company’s website at www.Flowr.ca
NOTE TO INVESTORS: The latest news and updates
relating to FLWPF are available in the company’s newsroom at http://ibn.fm/FLWPF
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