The Flowr Corporation (TSX.V: FLWR) (OTC: FLWPF) (“Flowr” or the
“Company”), a Canadian Licensed Producer of premium cannabis
products, announced today that it received approval from Health
Canada to open additional grow rooms at its Kelowna 1 cultivation
facility. The Company expects to begin growing in a portion
of the newly approved rooms immediately.
Kelowna 1 is Flowr’s initial cultivation facility that is under
construction in the world-famous Okanagan Valley of British
Columbia. The additional rooms will raise the total number of
flower rooms Flowr is operating to ten (10), which is expected to
more than double its current capacity and bring the facility to 50%
completion.
The Company expects to have the facility complete with a total
of 20 grow rooms prior to the end of the third quarter of this
year. When complete, Flowr expects the approximately 85,000
square foot facility to produce at a capacity of approximately
10,000 kilograms of premium cannabis flower on an annualized
basis.
“We’re building out our capacity as planned to ensure we can
meet the growing demand for our products from our provincial
partners and under our new medical cannabis supply agreement with
Shoppers Drug Mart,” said Tom Flow, Co-CEO of Flowr. “The shortage
of premium adult-use cannabis we predicted has become a reality
since last October and ramping up our facilities will provide
much-needed, high-quality product to the market.”
Flowr’s cultivation facilities are being constructed to Good
Manufacturing Practice (GMP) standards. They employ
proprietary designs and systems to create a highly controlled
growing environment that the Company expects will enable it to
produce a large portion of its premium cannabis without requiring
irradiation to meet Health Canada standards. The Company’s
cultivation team follows exacting protocols throughout the growing
process then carefully harvests, hand trims and craft cures its
products, seeking to deliver a premium experience for
consumers.
About Flowr
The Flowr Corporation (TSX.V: FLWR) (OTC: FLWPF), through its
subsidiaries, holds a cannabis production and sales license granted
by Health Canada. With a head office in Markham, ON and a
production facility in Kelowna, BC, Flowr builds and operates
large-scale, GMP-designed cultivation facilities utilizing its own
patented growing systems. Flowr’s investment in research and
development along with its sense of craftsmanship and a spirit of
innovation is expected to enable it to provide premium-quality
cannabis that appeals to the adult-use recreational market and
addresses specific patient needs in the medicinal market.
For more information, visit www.flowr.ca Follow Flowr on
Twitter: @FlowrCanada; Facebook: Flowr Canada; Instagram:
@flowrcanada; and LinkedIn: The Flowr Corporation.
On behalf of The Flowr Corporation:
Tom Flow
Co-CEO
Forward-Looking Information
This press release includes forward-looking information within
the meaning of Canadian securities laws regarding Flowr and its
business, which may include, but are not limited to: the capacity
at Flowr’s facility, including at such time that the additional
rooms are completed and at the time of completion of Kelowna 1, the
timing of beginning to grow product in the additional rooms
described herein, the expected completion of construction of
Kelowna 1, including the phases of completion, the amount of
product that Flowr expects to grow upon completion of Kelowna 1 on
an annualized basis, Flowr building capacity to meet the growing
demand for its products from its customers, the ramping up of
Flowr’s facilities providing much-needed, high-quality product to
the market, Flowr’s facilities being constructed to achieve GMP
designation, Flowr’s facilities being highly controlled growing
environments that will enable it to produce premium cannabis that
does not require irradiation to meet Health Canada standards, the
Company seeking to deliver a premium cannabis experience for its
customers, Flowr’s facilities being designed in a way that should
enable it to provide customers with both high quality products and
consistent benefits, Flowr’s cultivation team employing exacting
protocols throughout the growing and curing process that seek to
deliver a premium experience for customers, Flowr’s investment in
research and development along with its sense of craftsmanship and
a spirit of innovation enabling it to provide premium-quality
cannabis that appeals to the adult-use recreational market and
addresses specific patient needs in the medicinal market and other
factors. 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 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 these
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 the inability of Flowr’s products providing customers with a
premium option, Flowr’s cultivation team failing to achieve the
standards or level of products described herein, including with
respect to quality and consistency of product offerings, the
inability of Flowr to construct or maintain its facilities at GMP
standards, which could significantly impact sales of Flowr’s
products, Flowr’s cultivation team not employing exacting protocols
throughout the growing and curing process, which could impact the
quality of the products and the experience for customers, Flowr not
being able to provide premium-quality cannabis that appeals to the
adult-use recreational market and addresses specific patient needs
in the medicinal market, Flowr’s inability to excel at cultivating
premium cannabis, Flowr’s inability to construct its facilities, or
in the time anticipated, which could materially adversely impact
its growing capacity and sales, the inability of Flowr to double
its capacity with the additional rooms, which could materially
adversely impact growing capacity and sales, Flowr’s inability to
achieve the growing capacity described herein on an annualized
basis, which could materially adversely impact sales and profits,
the build out of Flowr’s facilities not meeting demand for
products, demand for cannabis products decreasing, including with
respect to Flowr’s products, the inability of Flowr to provide what
it perceives to be much-needed, high quality product to the market,
the inability of Flowr to control the growing environment in its
facilities, which could result in loss of products or the need to
irradiate products, thus impacting the supply and demand for and/or
quality of the products, Flowr not being able to complete the
additional rooms on the timelines described herein, which could
materially adversely impact Flowr’s growing capacity and sales,
Flowr requiring additional financing from time to time in order to
continue its operations and construct the facilities described
herein and such financing may not be available when needed or on
terms and conditions acceptable to the Company, new laws or
regulations adversely affecting the Company’s business and results
of operations, results of operation activities and development of
projects, project cost overruns or unanticipated costs and
expenses, the inability of Flowr’s products to be high
quality, the inability of Flowr to produce and distribute premium,
high quality products, the inability to supply products or any
delay in such supply, which could result in significant penalties
or costs being imposed on Flowr, Flowr’s securities, the inability
to generate cash flows, revenues and/or stable margins, the
inability to grow organically, risks associated with the geographic
markets in which Flowr operates and/or distributes its products,
risks associated with fluctuations in exchange rates (including,
without limitation, fluctuations in currencies), risks associated
with the use of Flowr’s products, the cannabis industry and the
regulation thereof, the failure to comply with applicable laws,
risks relating to partnership arrangements, possible failure to
realize the anticipated benefits of partnership arrangements,
product launches (including, without limitation, unsuccessful
product launches), the inability to launch products, the failure to
obtain regulatory approvals, economic factors, market conditions,
risks associated with the acquisition and/or launch of products,
the equity and debt markets generally, risks associated with growth
and competition (including, without limitation, with respect to
Flowr’s products), general economic and stock market conditions,
risks and uncertainties detailed from time to time in Flowr’s
filings with the Canadian Securities Administrators 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, there may be other
factors that cause actions, events or results to differ from those
anticipated, estimated or intended. No forward-looking information
can be guaranteed. Except as required by applicable securities
laws, forward-looking information speaks only as of the date on
which it is made and Flowr undertakes no obligation to publicly
update or revise any forward-looking information, whether as a
result of new information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
- ends -
Jim Walsh
The Flowr Corporation
+1-607-275-7141
jwalsh@flowr.ca
Bruce Dunbar
The Flowr Corporation
+1-917-756-4065
bdunbar@flowr.ca
For Investors Only: Bram Judd
The Flowr Corporation
+1-905-940-3993 ext.1520
bram@flowr.ca
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