Flow Beverage Corp. Announces Director Changes and Operational Update
Flow Beverage Corp. (OTCQX:FLWBF) has announced the resignation of Board members Lori O’Neill and Michael Samoszewski, recognizing their contributions to the company's shift towards a capital-efficient model. The recent sale of the Verona production facility is expected to enhance cash flow and reduce operating costs. CEO Nicholas Reichenbach stated that the divestiture will streamline operations and strengthen the balance sheet. Flow plans to announce new Board nominees and provide an operational update soon, highlighting their commitment to profitability.
- Sale of Verona facility expected to improve cash flow and reduce operating costs.
- Streamlining operations and strengthening the balance sheet after divestiture.
- None.
Flow’s founder and CEO,
Additionally, given the Company’s recently announced sale of its
About Flow
Flow is one of the fastest-growing premium water companies in
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 unfavorable 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/20221110005373/en/
1-844-356-9426
investors@flowhydration.com
Investors:
investors@flowhydration.com
Media:
nk@nkpr.net
Source:
FAQ
What is the significance of the Board member resignations at Flow Beverage Corp. (FLWBF)?
How will the sale of the Verona facility impact Flow Beverage Corp. (FLWBF)?
When will Flow Beverage Corp. provide an operational update following the Board changes?