The Flowr Corporation Announces Fourth Quarter 2020 Earnings Date

Rhea-AI Summary

Flowr will release its fourth quarter earnings for 2020 on April 28, 2021, after market close, followed by a conference call at 5:30 p.m. ET to discuss the results. The company has settled Change of Control Payments and paid fees related to its acquisition of Terrace Global Inc., issuing a total of 744,250 Common Shares. Additionally, Flowr has terminated a previously announced non-brokered private placement aimed at raising $1 million. As a cannabis company, Flowr operates internationally, focusing on high-quality product offerings.

Positive

• Completion of Change of Control Payments and Hyperion Payment through share issuances.
• International operations with a focus on the growing medical cannabis market.

Negative

• Termination of the planned private placement could indicate potential liquidity issues.

• Flowr will release fourth quarter earnings after market close on Wednesday, April 28, 2021 and will host a conference call to review results on Wednesday, April 28, 2021 at 5:30 p.m. (Eastern Time).
  

TORONTO, April 09, 2021 (GLOBE NEWSWIRE) -- The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (“Flowr” or the “Company”) announces that the Company will release its fourth quarter and full year 2020 results after the close of the financial markets on Wednesday, April 28, 2021. There will be a conference call and webcast to review these results on Wednesday, April 28 at 5:30 p.m. (Eastern Time).

Conference call and webcast details are as follows:

Webcast: flowrcorp.com/investors
Online registration: http://www.directeventreg.com/registration/event/8493169

Conference call replay details are as follows:

Toll Free: 1-800-585-8367
Toll/International: 1-416-621-4642
Passcode: 8493169
Webcast: flowrcorp.com/investors
The replay of the conference call will be available through midnight on Friday, May 7, 2021.

Terrace Acquisition – Issuance of Shares

In addition, in connection with the Company’s acquisition (the “Acquisition”) of Terrace Global Inc. (“Terrace”), the Company has completed its previously announced settlement in respect of the change of control payments owed to certain former directors and officers of Terrace (the “Change of Control Payment”) and the fees owed to Terrace’s financial advisor, Hyperion Capital Inc. (“Hyperion”), in respect of the Acquisition (the “Hyperion Payment”). An aggregate of 276,569 Common Shares were issued at a deemed price of $0.44 per Common Share pursuant to the Change of Control Payment. An aggregate of 467,681 Common Shares were issued at a deemed price of $0.385 per Common Share pursuant to the Hyperion Payment.

Private Placement

The Company announced today the termination of the previously announced non-brokered private placement of common shares of Flowr for gross proceeds of up to $1,000,000.

About The Flowr Corporation

The Flowr Corporation is a Toronto-headquartered cannabis company with operations in Canada, Europe, and Australia. Its Canadian operating campus, located in Kelowna, BC, includes a purpose-built, GMP-designed indoor cultivation facility; an outdoor and greenhouse cultivation site; and a state-of-the-art R&D facility. From this campus, Flowr produces recreational and medicinal products. Internationally, Flowr intends to service the global medical cannabis market through its subsidiary Holigen, which has a license for cannabis cultivation in Portugal and operates GMP licensed facilities in both Portugal and Australia.

Flowr aims to support improving outcomes through responsible cannabis use and, as an established expert in cannabis cultivation, strives to be the brand of choice for consumers and patients seeking the highest-quality craftsmanship and product consistency across a portfolio of differentiated cannabis products.

For more information, please visit flowrcorp.com or follow Flowr on Twitter: @FlowrCanada and LinkedIn: The Flowr Corporation.

On behalf of The Flowr Corporation:
Irina Hossu
Chief Financial Officer

CONTACT INFORMATION:

INVESTORS & MEDIA:
Irina Hossu, Chief Financial Officer
Irina.hossu@flowr.ca

FAQ

What are the earnings release details for Flowr (FLWPF) on April 28, 2021?

Flowr will release its fourth quarter and full year 2020 results on April 28, 2021, after market close, with a conference call at 5:30 p.m. ET.

What was the outcome of Flowr's acquisition of Terrace Global Inc.?

Flowr has completed the settlement for Change of Control Payments and issued shares related to the acquisition of Terrace Global Inc.

What happened to the private placement announced by Flowr (FLWPF)?

Flowr has terminated its previously announced non-brokered private placement for gross proceeds of up to $1 million.