FLOW BEVERAGE CRP SUB VTG - FLWBF STOCK NEWS

Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has announced a distribution agreement with Starbucks Coffee Canada to offer Flow Alkaline Spring Water and Flow Strawberry Rose in over 1,000 locations across Canada, starting in January 2023. This milestone aligns with Flow's growth strategy, enhancing its retail presence in North America. Flow's CEO, Nicholas Reichenbach, emphasized the brand's appeal to consumers seeking functional water with a positive environmental impact.

Flow Beverage Corp. (OTCQX: FLWBF; TSX: FLOW) has appointed Stephen A. Smith and Michael Lines to its Board of Directors. Smith, with a strong background in finance, will chair the Audit Committee, while Lines, founder of Wellness Natural Inc., will chair the Governance, Human Resources & Compensation Committee. Their appointments aim to enhance Flow's strategic transformation and focus on profitable growth in the consumer packaged goods sector. Flow is recognized as one of North America's fastest-growing premium water companies, emphasizing sustainable practices and health-oriented products.

Flow Beverage Corp. (OTCQX: FLWBF) announced a distribution agreement with Foodbuy Foodservice, expanding its reach to over 11,000 new points of distribution across various sectors, including hospitality, education, and healthcare. This partnership is expected to enhance Flow's sales and market presence, leveraging Foodbuy's extensive procurement network. Flow aims to drive growth in food service, retail, and e-commerce segments, aligning with its sustainability mission and commitment to providing high-quality, environmentally friendly beverage products.

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.

Flow Beverage Corp. announces the sale of its Verona, Virginia production facility to BioSteel Sports Nutrition for US$19.5 million. This strategic move aims to enhance the profitability of the Flow brand and simplify its operations by reducing operating expenses. Flow will maintain ownership of its 144-acre spring water source and has secured a co-manufacturing agreement with BioSteel, ensuring continuous production of Flow's branded water. The transaction is expected to improve Flow's operating cash flow and strengthen its balance sheet, facilitating continued revenue growth in the U.S.

Flow Beverage Corp. announced the sale of its Verona, Virginia production facility to BioSteel Sports Nutrition for US$19.5 million. This sale enables Flow to focus on the profitable growth of its brand while simplifying operations and improving its balance sheet.

Flow retains ownership of the water source and enters into a co-manufacturing agreement to ensure production continuity. BioSteel's acquisition supports its growth strategy and vertical integration in the U.S. market, ultimately enhancing its operational efficiency.

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.

Flow Beverage Corp. has announced its participation as the official water partner for the TCS New York City Marathon on November 6th. The company will supply over 289,000 units of its alkaline spring water to runners and activate on-site hydration stations and cheer zones. This event aims to boost brand awareness and promote sustainable choices, as Flow's packaging is made from renewable materials and is recyclable. CEO Nicholas Reichenbach emphasized the importance of supporting healthy lifestyles through this partnership.

Flow Beverage Corp. reported significant financial results for Q3 2022, with net revenue increasing by 36% year-over-year to $12.7 million and a 79% rise from Q2 2022. The gross margin improved to 28%, a 6% increase from Q3 2021. The EBITDA Loss narrowed to $7.6 million, a 42% improvement from the previous year. The company revised its revenue growth target for the second half of FY 2022 to 35%-45% compared to the prior year's second half. Flow continues to focus on sustainable growth through strategic distribution wins and product launches.