The Flowr Corporation Announces Entry into Quebec
TORONTO, Feb. 04, 2021 (GLOBE NEWSWIRE) -- The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (“Flowr” or the “Company”) is pleased to announce that it has entered the Province of Quebec with its first commercial orders for its award-winning BC Pink Kush and its newest strain BC Black Cherry. Flowr has shipped dried cannabis flower for the first time into the Quebec market through a distribution partnership with ROSE LifeScience Inc. (“ROSE”).
“We are very pleased to be starting off 2021 with product shipment into the Quebec marketplace. We are fortunate to have local partners like ROSE distributing our products and acting as Flowr brand ambassadors on our behalf,” commented Lance Emanuel, President and Interim Chief Executive Officer of Flowr. “We believe Quebec will be one of our most important provincial partners in the future given it is the third largest cannabis market in Canada to date with approximately 60 dispensaries,” added Mr. Emanuel.
“We are thrilled to bring the brand to Quebecers and to partner with The Flowr Corporation, a cannabis company with 100% indoor grown cannabis,” said Davide Zaffino, President and Chief Financial Officer at ROSE LifeScience Inc.
Flowr entered into a Sales, Marketing and Distribution Agreement (the “Agreement”) with ROSE in April 2020 and obtained its Autorité des marchés publics approval to operate in the Province of Quebec in August 2020. Commercial terms of the Agreement were not disclosed.
Flowr recently won 2020 Brand of the Year at the ADCANN Awards and also took home a bronze medal at the prestigious Clio Awards. Flowr’s BC Pink Kush was recently voted by budtenders as the top Indica Dried Flower at the inaugural Kind Magazine Awards. Flowr’s BC Pink Kush has been a favorite strain and was a top 10 selling SKU in the dried flower category and the #1 selling SKU in the Premium Dried Flower category through Q3 2020 in Ontario. BC Pink Kush has not been irradiated in approximately two years, consistently has both a high and a tight THC band of 20-25% and terpene content typically in excess of 2.5%, a testament to Flowr’s facility design and growing practices. Thus far, BC Black Cherry has shown a more robust THC profile than BC Pink Kush and as a result the Company believes it will be accretive to its revenue growth in 2021.
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. In 2020, Flowr’s BC Pink Kush was recognized as the top Indica strain in Canada by Kind Magazine.
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.
About ROSE LifeScience Inc.
As a private Quebec company founded by a group of seasoned executives with extensive experience in highly regulated industries, ROSE LifeScience is committed to ensuring that Quebec benefits from the responsible production, sale and consumption of cannabis. From cannabis cultivation to marketing and logistics, ROSE plays a key role in the Quebec market. ROSE not only produces remarkable cannabis, but also offers complete marketing service to selected producers to encourage a diversified offer on the Quebec market.
On behalf of The Flowr Corporation: Lance Emanuel President and Interim Chief Executive Officer
INVESTORS & MEDIA: Thierry Elmaleh Head of Capital Markets 1-877-356-9726 ext. 1528 [email protected]
Forward-Looking Information and Statements
This press release contains “forward-looking information” within the meaning of Canadian securities laws. 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 information and 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 such information and 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: general economic and stock market conditions; adverse industry events; loss of markets; future legislative and regulatory developments in Canada and elsewhere; the cannabis industry in Canada generally; the ability of Flowr to implement its business strategies; Flowr’s inability to produce or sell premium quality cannabis, risks and uncertainties detailed from time to time in Flowr’s filings with the Canadian Securities Administrators; the Company’s inability to raise capital or have the liquidity to operate or advance its strategic initiatives 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 or statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking information or statement can be guaranteed. Except as required by applicable securities laws, forward-looking information and statements speak only as of the date on which they are made and Flowr undertakes no obligation to publicly update or revise any forward-looking information or statements, whether as a result of new information, future events or otherwise. When considering such forward-looking information and statements, readers should keep in mind the risk factors and other cautionary statements in Flowr’s Annual Information Form dated April 29, 2020 (the “AIF”) and filed with the applicable securities regulatory authorities in Canada. The risk factors and other factors noted in the AIF could cause actual events or results to differ materially from those described in any forward-looking information or statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.