{"id":406860,"date":"2020-12-31T08:33:30","date_gmt":"2020-12-31T13:33:30","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=406860"},"modified":"2020-12-31T08:33:30","modified_gmt":"2020-12-31T13:33:30","slug":"the-flowr-corporation-announces-interest-payment-on-debentures","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-flowr-corporation-announces-interest-payment-on-debentures\/","title":{"rendered":"The Flowr Corporation Announces Interest Payment on Debentures"},"content":{"rendered":"
\n

TORONTO, Dec. 31, 2020 (GLOBE NEWSWIRE) — The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (\u201cFlowr<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) announces that it intends to satisfy the interest obligations in respect of its outstanding 10.0% subordinated secured convertible debentures (the \u201cDebentures<\/strong>\u201d) to be paid on December 31, 2020 (the \u201cInterest Payment Date<\/strong>\u201d) by issuing common shares of Flowr (\u201cCommon Shares<\/strong>\u201d) 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.<\/p>\n

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 \u201cInterest<\/strong>Amount<\/strong>\u201d). 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.<\/p>\n

\n About The Flowr Corporation<\/strong>\n <\/p>\n

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\u2019s BC Pink Kush was recognized as the top indica strain in Canada by kind magazine.<\/p>\n

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.<\/p>\n

For more information, please visit flowrcorp.com<\/a> or follow Flowr on Twitter: @FlowrCanada and LinkedIn: The Flowr Corporation.<\/p>\n

On behalf of The Flowr Corporation:
Lance Emanuel<\/em>
Interim CEO<\/p>\n

\n CONTACT INFORMATION: <\/u>\n <\/p>\n

INVESTORS & MEDIA:
Thierry Elmaleh
Head of Capital Markets
(877) 356-9726 ext. 1528
thierry@flowr.ca<\/a><\/p>\n

\n Forward-Looking Information and Statements<\/strong>\n <\/p>\n

This press release contains \u201cforward-looking information\u201d within the meaning of Canadian securities laws. Often, but not always, forward-looking information can be identified by the use of words such as \u201cplans\u201d, \u201cis expected\u201d, \u201cexpects\u201d, \u201cscheduled\u201d, \u201cintends\u201d, \u201ccontemplates\u201d, \u201canticipates\u201d, \u201cbelieves\u201d, \u201cproposes\u201d or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions, events or results \u201cmay\u201d, \u201ccould\u201d, \u201cwould\u201d, \u201cmight\u201d or \u201cwill\u201d be taken, occur or be achieved. Such information and statements are based on the current expectations of Flowr\u2019s management and are based on assumptions and subject to risks and uncertainties. Although Flowr\u2019s management believes that the assumptions underlying such information and 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: general economic and stock market conditions; adverse industry events; loss of markets; future legislative and regulatory developments in Canada and elsewhere; the cannabis industry in Canada generally; the ability of Flowr to implement its business strategies; Flowr\u2019s inability to produce or sell premium quality cannabis, risks and uncertainties detailed from time to time in Flowr\u2019s filings with the Canadian Securities Administrators; the Company\u2019s inability to raise capital or have the liquidity to operate or advance its strategic initiatives and many other factors beyond the control of Flowr.<\/p>\n

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 or statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking information or statement can be guaranteed. Except as required by applicable securities laws, forward-looking information and statements speak only as of the date on which they are made and Flowr undertakes no obligation to publicly update or revise any forward-looking information or statements, whether as a result of new information, future events or otherwise. When considering such forward-looking information and statements, readers should keep in mind the risk factors and other cautionary statements in Flowr\u2019s Annual Information Form dated April 29, 2020 (the \u201cAIF\u201d) and filed with the applicable securities regulatory authorities in Canada. The risk factors and other factors noted in the AIF could cause actual events or results to differ materially from those described in any forward-looking information or statements.<\/p>\n

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.<\/p>\n

\n
\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

TORONTO, Dec. 31, 2020 (GLOBE NEWSWIRE) — The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (\u201cFlowr\u201d or the \u201cCompany\u201d) announces that it intends to satisfy the interest obligations in respect of its outstanding 10.0% subordinated secured convertible debentures (the \u201cDebentures\u201d) to be paid on December 31, 2020 (the \u201cInterest Payment Date\u201d) by issuing common shares of Flowr (\u201cCommon Shares\u201d) 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 \u201cInterestAmount\u201d). Subject to approval of the TSX Venture Exchange, the … <\/p>\n

Continue reading “The Flowr Corporation Announces Interest Payment on Debentures”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-406860","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThe Flowr Corporation Announces Interest Payment on Debentures - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-flowr-corporation-announces-interest-payment-on-debentures\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Flowr Corporation Announces Interest Payment on Debentures - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TORONTO, Dec. 31, 2020 (GLOBE NEWSWIRE) — The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (\u201cFlowr\u201d or the \u201cCompany\u201d) announces that it intends to satisfy the interest obligations in respect of its outstanding 10.0% subordinated secured convertible debentures (the \u201cDebentures\u201d) to be paid on December 31, 2020 (the \u201cInterest Payment Date\u201d) by issuing common shares of Flowr (\u201cCommon Shares\u201d) 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. 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