Markham, ON, Nov. 14, 2018 (GLOBE NEWSWIRE) —
Flowr CEO Vinay Tolia also Discussed the Partnership and Flowr Business Model on BNN Bloomberg on November 9
The Flowr Corporation (“Flowr” or “the Company”) (TSXV: FLWR), a Canadian Licensed Producer of premium cannabis products, announced today that its Co-founder, Chairman and Chief Strategy Officer, Steve Klein, will share the main stage at MJBizCon, the largest cannabis conference in the world, with Chris Hagedorn, General Manager of Hawthorne Gardening Company, to discuss the companies’ exclusive R&D alliance. The session is:
The Big Play: Teaming Up With a Mainstream Company
Wednesday, November 14, 2018
11:15 am – 12:00 pm
Las Vegas Convention Center
ROOM: C2 (Main Stage)
“The Big Play: Teaming up With a Mainstream Company” will center around Klein and Hagedorn discussing the strategic R&D alliance between Flowr and Hawthorne’s subsidiary, Hawthorne Canada Ltd., that will create the first research and development facility in North America dedicated to advancing cannabis cultivation techniques and systems. Groundbreaking for the Kelowna, British Columbia facility took place in October 2018 and construction is expected to be completed in Summer 2019. Hawthorne is a subsidiary of The Scotts Miracle-Gro Company (NYSE: SMG).
The discussion may be of special interest to MJBizCon attendees given its focus on one of only three partnerships between a Canadian Licensed Producer and a publicly traded U.S. company.
About Flowr
The Flowr Corporation (TSXV: FLWR), through its subsidiaries, is a Canadian cannabis company focused on the natural science of cannabis. With head offices in Markham, ON and production 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 is expected to enable its cultivation team to supply patients with consistent, high-quality medicinal cannabis. With a sense of craftsmanship and a spirit of innovation, Flowr is also well positioned with a line of premium quality cannabis products for the adult-use 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:
Steve Klein
Chairman & Chief Strategy Officer
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 R&D facility described herein, including, without limitation, the dedication of such facilities to advancing cultivation techniques and systems, the facility being the first of its kind in North America, Flowr’s intention to develop and test Hawthorne cultivation systems such as lights and fertilization and irrigation systems in the facility, Flowr’s intention to research genetics and cultivation data analytic systems in the facility, the timing for completion of construction of the facility described herein, Flowr’s expertise in design, build and cultivation, Flowr being well positioned with a line of premium quality cannabis products for the upcoming adult-use market, Flowr’s investment in research and development enabling its cultivation team to supply patients with consistent, high quality medicinal cannabis 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 Flowr’s inability to construct the facility described herein, or in the time anticipated, the relationship with Hawthorne being terminated, Flowr’s inability to grow the amount of cannabis described herein, which could adversely impact revenues, the fact that the facility described herein may not include all the elements described in this press release, which could adversely impact the partnership with Hawthorne, Flowr’s R&D strategy and/or Flowr’s revenues, the inability of Flowr to test Hawthorne’s cultivation systems, which could adversely impact the partnership described herein and future R&D initiatives of Flowr, Flowr not being able to sustain its competitive advantage in cultivation and being unable to remain at the forefront of industry innovation, whether as a result of failed construction of the facility described herein or otherwise, Flowr’s inability to research genetics and cultivation data analytic systems in the facility, Flowr not being able to meet demand or fulfill purchase orders, which could materially impact revenues and its relationships with purchasers, Flowr losing its technical expertise in design, build and/or cultivation, or competitors being able to obtain those skills or more advanced skills, competitors or others constructing similar facilities or more advanced facilities at any time, including prior to the completion of construction of the R&D facility described herein, the actual costs for construction of the facility described herein exceeding the budget for such construction, which may require Flowr to absorb such costs, Flowr incurring penalties as a result of not completing stages of construction of the facility on the timelines provided for in the construction agreement, Flowr requiring additional financing from time to time in order to continue its operations 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, 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 to treat certain conditions, 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.
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CONTACT: Jim Walsh The Flowr Corporation +1-607-275-7141 [email protected] Bruce Dunbar The Flowr Corporation +1-917-756-4065 [email protected] For Investors: Flowr CFO Alex Dann The Flowr Corporation +1-905-940-3993 x1503 [email protected]
