TORONTO – The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (“Flowr” or the “Company”) has decided, at this time, to withdraw its previously announced public offering (the “Offering”) as set forth in the (final) short form base PREP prospectus filed on July 18, 2019, with the securities regulatory authorities in each of the provinces of Canada except Quebec (the “Prospectus”).
The Company is not proceeding with the Offering due to prevailing market conditions, which were not conducive to the completion of the Offering on terms that would be in the best interest of Flowr’s current shareholders. Flowr will continue to monitor market conditions as it evaluates options to drive long-term growth.
The Prospectus was also filed in the United States with the United States Securities and Exchange Commission as part of a registration statement on Form F-10 (the “Form F-10”), in accordance with the Multi-jurisdictional Disclosure System established between Canada and the United States. No securities have been sold in connection with the Offering pursuant to the Form F-10. The Company is also assessing the timing of its Nasdaq listing, as a result of the current market conditions.
About The Flowr Corporation
Flowr, through its subsidiaries, holds cannabis production and sales licenses granted by Health Canada. With a head office in Toronto and a production facility in Kelowna, BC, Flowr builds and operates large-scale, GMP-designed cultivation facilities utilizing its own growing systems. Flowr expects to provide premium-quality cannabis to the adult-use recreational market and the medicinal market.