BY MY COUNT FLWR AFTER TAKEOVER HAS 315,088,688 SHARES OUTSTANDING SO ADDING ANOTHER 894,013shares IS HARDLY NOTICABLE!
But their revenue flows are going to have to be huge to justify share price appreciation.
" (“Flowr” or the “Company”) announces that it intends to satisfy the interest obligations in respect of its outstanding 10.0% subordinated secured convertible debentures (the “Debentures”) to be paid on December 31, 2020 (the “Interest Payment Date”) by issuing common shares of Flowr (“Common Shares”) to holders of Debentures in accordance with the terms of the indenture between the Company and Computershare Trust Company of Canada dated April 27, 2020, as amended.
As at the date hereof, there is $4,966,000 aggregate principal amount of Debentures outstanding and the aggregate accrued interest on such Debentures is $339,728 (the “InterestAmount”). Subject to approval of the TSX Venture Exchange, the Company intends to pay the Interest Amount on the Interest Payment Date by issuing an aggregate of 894,013 Common Shares at an issue price of $0.38 per Common Share, being the volume weighted average price of the Common Shares on the trading day prior to the Interest Payment Date.
About The Flowr Corporation
The Flowr Corporation is a Toronto-headquartered cannabis company with operations in Canada, Europe, and Australia. Its Canadian operating campus, located in Kelowna, BC, includes a purpose-built, GMP-designed indoor cultivation facility; an outdoor and greenhouse cultivation site; and a state-of-the-art R&D facility. From this campus, Flowr produces recreational and medicinal products. Internationally, Flowr intends to service the global medical cannabis market through its subsidiary Holigen, which has a license for cannabis cultivation in Portugal and operates GMP licensed facilities in both Portugal and Australia. In 2020, Flowr’s BC Pink Kush was recognized as the top indica strain in Canada by kind magazine.
Flowr aims to support improving outcomes through responsible cannabis use and, as an established expert in cannabis cultivation, strives to be the brand of choice for consumers and patients seeking the highest-quality craftsmanship and product consistency across a portfolio of differentiated cannabis products.
