TORONTO, June 29, 2021 (GLOBE NEWSWIRE) – The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (“Flower“or the”Company“) is pleased to announce that it has signed an agreement with Green Hedge Education & Distribution Services Ltd. (“Green hedge”) To act as the Company’s external sales agent providing coverage to authorized cannabis wholesalers and retailers across Canada.
“Working with Green Hedge allows Flowr to access a much larger audience of retailers across Canada. In Ontario alone, we expect to open more than 1,300 outlets by the end of 2021 and the partnership with Green Hedge allows us to extend the coverage of our business universe in a cost effective manner, ”commented Darryl Brooker, Chief Executive Officer of the Company. “Green Hedge has one of the largest distribution footprints in Canada and we see this as an important way to have an even wider distribution of our flagship varieties BC Pink Kush and BC Black Cherry. “
Green Hedge is a leading cannabis sales and distribution company headquartered in Toronto, Ontario, led by Andrew von Teichman. Its entrepreneurial experience of over two decades in distribution and consumer packaged products has made Green Hedge one of the leading cannabis distributors in Canada. Operating in six provinces with more than 2,000 active business partners in Canada, the company has a 93% penetration rate with its customers.
We are delighted to have Flowr in our portfolio. Their position in high-end production and flower capacities makes them an ideal choice for our growing portfolio of market-leading brands, ”commented von Teichman, CEO of Green Hedge.
The Flowr Corporation is a cannabis company headquartered in Toronto with operations in Canada and the European Union. Its Canadian operating campus, located in Kelowna, British Columbia, includes a specially designed and GMP-designed indoor grow facility; an outdoor and greenhouse cultivation site; and a state-of-the-art R&D center. From this campus, Flowr produces recreational and medicinal products. Internationally, Flowr intends to serve the global medical cannabis market through its subsidiary Holigen Holdings Limited, which holds a license for cannabis cultivation in Portugal and operates a GMP licensed facility in Portugal. . In 2020, Flowr’s BC Pink Kush was recognized as the best indica strain in Canada by KIND magazine.
Flowr aims to support improved outcomes through responsible cannabis use and, as an established expert in cannabis cultivation, strives to be the brand of choice for consumers and patients looking for ” the highest quality know-how and product consistency in 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 Green Hedge
Green Hedge’s mission is to be the premier cannabis distributor in Canada, providing a comprehensive sales, marketing and education solution for licensed producers and cannabis companies. Green Hedge provides cannabis manufacturers with a national voice for their brands with retailers in every province, supported by a highly knowledgeable and insightful team of cannabis sales educators. Green Hedge represents a premier portfolio of some of the best cannabis brands in Canada.
On behalf of The Flow Corporation:
Chief executive officer
INVESTORS & MEDIA:
Certain statements made in this press release may constitute “forward-looking information”, “forward-looking financial information” or “financial outlook” (collectively, “forward-looking information”) Within the meaning of applicable securities laws. Forward-looking information may relate to anticipated events or results, including, but not limited to: the Company’s expectation that it will build on its accomplishments while continuing to invest in sales and marketing; the Company’s expectations for product sales in Quebec; Flowr serving the global medical cannabis market and operating GMP facilities in Portugal; Flowr’s business, production and products; Flowr’s plans to deliver premium quality cannabis to the adult recreational and medical markets; EU-GMP certification opening the opportunity for medicinal cannabis for the Company in global markets; the Company being well positioned to distribute EU GMP compliant products in underserved markets; Flowr’s ability to generate revenues from the Company’s European operations on time or not at all; Flowr’s ability to establish sales and distribution channels in Europe to deliver medicinal cannabis to underserved markets; expectations regarding the expected schedule for harvests, propagation, completion of construction and installation of mining infrastructure at the Company’s Sintra facility; the Company being unable to start GMP packaging and commercial sales on schedule or not at all; Flowr’s ability to serve the global medical cannabis market and / or operate GMP-designed manufacturing facilities in Portugal; the sale of medical cannabis in pharmacies in Portugal representing a turning point for cannabis in the EU; the Company’s ability to make the offer or offers of its securities under the final shelf prospectus; the expected impact of strategic review decisions on the Company; the actual costs of savings resulting from the Company’s restructuring initiatives, including with regard to its workforce; the Company’s plans to sell its interests in some of its subsidiaries; the Company’s ability to obtain licenses from Health Canada and other regulatory agencies with respect to its properties and facilities; future legislative and regulatory developments in Canada and elsewhere; the cannabis industry in Canada in general; Flowr’s ability to execute its business strategies; and Flowr’s ability to produce or sell premium cannabis. In particular, information concerning our expectations in terms of future results, objectives, performance, prospects or opportunities is forward-looking information. Often, but not always, forward-looking statements can be identified by the use of forward-looking terms such as “may”, “will”, “expect”, “believe”, “estimate”, “plan”, “might”. “,” Should “,” should “,” prospect “,” plan “,” anticipate “,” plan “,” continue “or the negative of these terms or their variations or similar terminology. Forward-looking information is up to date as of the date it is made and is based on reasonable estimates and assumptions that we have made at the relevant time in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. To the extent that the forward-looking information contained in this press release constitutes “forward-looking financial information” or “financial outlook” within the meaning of applicable securities laws, the purpose of this information being to demonstrate the potential of the Company and readers are cautioned that this information may not be appropriate for other purposes. However, we do not undertake to update this forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws in Canada. There can be no assurance that these estimates and assumptions will prove to be correct. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking information, as set out in the “Factors” section. risk ”of the Company’s 2020 Annual Information Form. dated April 28, 2021 (the “FIA“). A copy of the Company’s Annual Information Form and other public documents is available under the Company’s profile on the Electronic Document Analysis and Search System (“SEDAR”) At www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in the Annual Information Form is not exhaustive and that other factors could also adversely affect its results. Readers are urged to carefully consider risks, uncertainties and assumptions when evaluating forward-looking information and are cautioned not to place undue reliance on such information.
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 release.