Flow Beverage Corp. Announces Ann Tracy Departs From Board of Directors

Rhea-AI Summary

Flow Beverage Corp (OTCQX: FLWBF) announced the resignation of Ann Tracy from its Board of Directors effective November 2, 2022. Tracy served on the Audit Committee and brought significant ESG expertise, contributing to the company being recognized as a 'Best for the World' B Corp. The company aims to continue her legacy, striving for 100% renewable-resource-based packaging by 2030 and achieving carbon negativity by 2025, as confirmed by CEO Nicholas Reichenbach. Tracy's departure is attributed to her other career obligations related to ESG.

Positive

• Continued commitment to achieve 100% renewable-resource based packaging by 2030.
• Aiming to become Carbon Negative by 2025, reinforcing sustainability goals.

Negative

• Ann Tracy's resignation may lead to concerns about continuity in ESG leadership.

TORONTO--(BUSINESS WIRE)-- Flow Beverage Corp. (TSX: FLOW; OTCQX: FLWBF) ("Flow") announced today that Ann Tracy resigned from her position on Flow’s Board of Directors effective November 2, 2022.

In addition to sitting on the Audit Committee and the Governance, Human Resources and Compensation Committee, Ann brought a wealth of environmental, social, and governance (“ESG”) expertise to Flow’s Board. During her tenure, B Corporation (“B Corp”) designated Flow as a “Best for the World” B Corp certified company for scoring among the top 5% in the Community impact area with a score of 126.5 points.

"We wish to thank Ann for all of her incredible insights and achievements in ESG, and for being a valued contributor to the Board. Flow remains committed to continuing Ann's work to achieve a 100% renewable-resource based package by 2030, and becoming Carbon Negative by 2025" said Nicholas Reichenbach, Chairman and CEO of Flow.

Ann Tracy commented, "I was fortunate to participate in Flow's mission-driven journey and support its commitment to provide naturally alkaline spring water without the plastic bottle. At this time, I will step down from the Board in order to fulfill other career obligations related to ESG."

About Flow

Flow is one of the fastest-growing premium water companies in North America. Founded in 2014, Flow’s mission since day one has been to reduce environmental impacts by providing sustainably sourced naturally alkaline spring water in a recyclable and up to 75% renewable, plant-based pack. Today, the brand is B-Corp Certified with a best-in-class score of 126.5, offering a diversified line of health and wellness-oriented beverage products: original naturally alkaline spring water, award-winning organic flavours, collagen-infused and vitamin-infused flavours in sizes ranging from 330-ml to 1-litre. All products contain naturally occurring electrolytes and essential minerals and support Flow’s overarching purpose to “bring wellness to the world through the positive power of water.” Flow beverage products are available online at flowhydration.com and are sold at over 36,000 stores across North America.

For more information on Flow, please visit Flow’s investor relations site at: investors.flowhydration.com.

Cautionary Statement

This press release may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Such forward-looking statements include, but are not limited to, information with respect to our objectives and the strategies for achieving those objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking statements are typically identified by the use of words such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, although not all forward-looking statements contain these words. Forward-looking statements are provided for the purposes of assisting the reader in understanding Flow and its business, operations, prospects, and risks at a point in time in the context of historical and possible future developments, and the reader is therefore cautioned that such information may not be appropriate for other purposes. Forward-looking statements are based on assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking statements. Those risks and uncertainties include the following: impact and spread of COVID-19; ability to achieve and manage growth; failure to expand sales capabilities; changes in consumer preferences; criticism of packaged water; maintain brand image and product quality; constrained or unavailable spring water sources; inability to package products; increased competition; accurately estimating demand; maintaining relationships with distributors and vendors; changing retail landscape; incorrect product design or development; product information misrepresentation; revenues derived entirely from packaged beverages; increases in costs or shortages of materials; fluctuation of quarterly operating results; no assurance of profitability; fluctuations in foreign currency; changes in government regulation; contamination or recalls of ingredients or end products; loss of intellectual property rights; litigation; future tax rates; catastrophic events; climate change; seasonal business; dependence on key information systems and third-party service providers; ability to securely maintain confidential information; maintaining and upgrading information technology systems; conflict of interest; dual class share structure; potential volatility of share price; no assurance of active market for shares; lack of dividends; global financial condition; publication of inaccurate or unfavourable research and reports; operating history; and management and conflict of interests. Consequently, all of the forward-looking statements contained herein are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward looking. statements contained herein are provided as of the date hereof, and we do not undertake to update or amend such forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221103005651/en/

Trent MacDonald, Chief Financial Officer

1-844-356-9426

investors@flowhydration.com

Investors:

Marc Charbin

investors@flowhydration.com

Media:

Natasha Koifman

nk@nkpr.net

Source: Flow Beverage Corp.

FAQ

What impact does Ann Tracy's resignation have on Flow Beverage Corp?

Ann Tracy's resignation may affect the continuity of ESG leadership, raising concerns among investors about future sustainability initiatives.

Why did Ann Tracy resign from Flow Beverage Corp's Board?

Ann Tracy stepped down to fulfill other career obligations related to ESG.

What are Flow Beverage Corp's sustainability goals following Tracy's departure?

Flow aims for 100% renewable-resource-based packaging by 2030 and to achieve carbon negativity by 2025.