The Flowr Corporation will begin trading on the TSX Venture Exchange under the symbol FLWR at market open today, September 26, 2018. This follows the recent completion by Flowr of both an oversubscribed $C36 million capital raise and a reverse takeover of a capital pool company previously listed on the Exchange.
“This is an exciting day and important step toward our goal of becoming one of Canada’s top licensed producers,” said Vinay Tolia, Flowr’s CEO. “With the transaction behind us, we can increase our focus on executing our business plan.”
Flowr is an emerging Canadian cannabis leader founded by MedReleaf co-founder Tom Flow and a team of industry pioneers, successful start-up executives, and top industry scientists. Flow is recognized for his expertise as a master grower who made his name with the quality products produced by MedReleaf, which was acquired by Aurora Cannabis. Flow designed, built and created standard procedures for the Markham, Ontario facility which is known for its productivity. Flow and his team have designed and built 17 different cultivation facilities and have obtained three producers licenses under Health Canada’s ACMPR.
Flowr’s Kelowna Facility
It is this expertise in building facilities that Flow brings to Flowr’s 85,000 square foot facility in Kelowna, British Colombia. The company will employ proprietary cultivation systems and it will be engineered to meet pharmaceutical quality production standards allowing Flowr to grow premium cannabis flower. The statement said that Flowr carefully harvests, hand trims and craft cures its products.
The company said that the Kelowna facility is presently approximately 20 percent operational with the remaining 80 percent slated to come online in early 2019. It is expected to produce upwards of 12,000 kilograms of cannabis flower annually once fully operational. The company expects to add more cultivation capacity and take steps designed to further increase crop yields in the near future.
Scott’s Miracle Grow
Flowr also brings to the table its relationship with the Hawthorne Gardening Company, a subsidiary of The Scotts Miracle-Gro Company (SMG). The two companies have an exclusive strategic R&D alliance. Hawthorne is testing a pesticide or fertilizer, they will work with Flowr to determine what works and doesn’t work. Hawthorne’s decision to partner with Flowr and makes it one of only three Canadian cannabis companies with a business partnership with a publicly traded U.S. company along with Canopy (WEED) and Hexo (HEXO).
As a result of this partnership, Hawthorne will fund the construction of a 50,000-square-foot R&D facility that is integrated into Flowr’s Kelowna campus. This facility is North America’s first dedicated cannabis R&D facility focused on advancing cultivation techniques and systems.
Flowr will produce both medical and adult use cannabis. FlowrRX will feature medicinal cannabis targeted to specific conditions, while Flowr will deliver premium cannabis for adult use. The company plans on producing other form factors such as ingestibles, beverages, and vape products when these become legal in Canada,