World News: 13:27 GMT Friday 12th October 2018. [The Flowr Corporation via Globe Newswire via SPi World News]
Kelowna, British Columbia, Oct. 12, 2018 (GLOBE NEWSWIRE) -- 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.
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
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.
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The Flowr Corporation
The Flowr Corporation
For Investors: Alex Dann
The Flowr Corporation
Globe Newswire: 13:27 GMT Friday 12th October 2018
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