The Flowr Corp., a Canadian licensed producer that focuses primarily on premium flower production, this morning announced that it has closed its offering of subscription receipts, which was previously oversubscribed and raised approximately C$36 million. Per the update, the offering is a further step toward completing the company’s previously announced plan to effect a reverse takeover of The Needle Capital Corp., which is anticipated to occur on or before September 10. “Completing this oversubscribed offering is another exciting milestone on Flowr’s journey to producing the finest cannabis experience in the world as well as an acknowledgement of investors’ belief in our business model,” Vinay Tolia, incoming CEO of Flowr, stated in the news release. “Coming on the heels of obtaining our Health Canada sales licence, these funds will enable us to scale operations and provide consumers and patients with Flowr’s clean, consistent, premium-quality product in the medicinal and adult-use markets.”
To view the full press release, visit http://cnw.fm/qaO8K
About The Flowr Corp.
Flowr, through its subsidiaries, is a vertically-integrated Canadian cannabis company focused on the natural science of cannabis. With head offices in Markham, ON and production in Kelowna, B.C., Flowr builds and operates large-scale, GMP compliant cultivation facilities utilizing their own patented growing systems. Flowr’s investment in research and development ensures that its master growers are able 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 upcoming adult-use market. For more information, visit the company’s website at www.Flowr.ca
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