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To date, Terrace Global has received proxies in favor of the Transaction representing approximately 58% of its issued and outstanding common shares.
Flowr expects transaction to close by the end of December.
TORONTO, Dec. 14, 2020 (GLOBE NEWSWIRE) The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) (“
Flowr” or the “
Company”) is pleased to provide an update with respect to the strategic acquisition of Terrace Global Inc. (TSXV: TRCE) (“
Terrace Global”) previously announced on October 20, 2020. Pursuant to the terms of the arrangement agreement between Flowr and Terrace Global dated October 19, 2020, as amended, Flowr will acquire all of the issued and outstanding common shares in the capital of Terrace Global in exchange for 0.4973 of a Flowr common share (each a “Common Share”) per common share of Terrace Global (the “