Terrace Global or the
Company ) is pleased to announce closing of the Company s previously announced plan of arrangement under the
Business Corporations Act (Ontario) with The Flowr Corporation (TSXV: FLWR) (
Flowr ), pursuant to which Flowr acquired all of the issued and outstanding common shares (
Terrace Shares ) of Terrace Global (the
Arrangement ).
The Terrace Shares were halted for trading on December 21, 2020 at noon and will remain so until the Terrace Shares are delisted from the TSX Venture Exchange. Terrace Global also intends to submit an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations.
Flowr” or the “
Company”) is pleased to announce it has completed the early conversion of certain of its 10.0% subordinated secured convertible debentures due April 27, 2024 (the “
Debentures”) pursuant to the previously announced early conversion opportunity (the “
Early Conversion Opportunity”). Approximately $16.4 million aggregate principal amount of Debentures were converted under the Early Conversion Opportunity, resulting in the issuance of approximately 47.8 million common shares of the Company. Upon closing of the Early Conversion Opportunity, there were approximately $5.1 million aggregate principal amount of Debentures still outstanding. All such outstanding Debentures will continue to be governed by the terms of the indenture between the Company and Computershare Trust Company of Canada dated April 27, 2020, as amended.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
The Flowr Corporation Announces the Closing of the Strategic Acquisition of Terrace Global
The Flowr CorporationDecember 24, 2020 GMT
Highlights:
The Company has closed its strategic acquisition of Terrace Global, creating an entity with a strong balance sheet and global footprint.
The Board of Directors and shareholder base now includes former founders of MedReleaf Corp., ICC Labs Inc. and Bedrocan Canada Inc.
Simultaneously, through liability management, the Company is expected to achieve meaningful debt reduction and amendments to the Company’s senior credit facility before the end of 2020.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
The Flowr Corporation’s BC Pink Kush Wins Top Indica at Inaugural Kind Magazine Awards
The Flowr CorporationDecember 18, 2020 GMT Canadian budtenders vote Flowr’s BC Pink Kush the Top Indica Flower in 2020.
Flowr’s BC Pink Kush was a top 10 selling SKU in the dried flower category and the #1 selling SKU in the premium dried flower category through Q3 2020 in Ontario.
Flowr’s BC Pink Kush has not been irradiated in approximately 2 years.
Flowr to move in 2021 to innovative packaging to highlight premium quality of its BC Pink Kush.
The Flowr Corporation Provides Update on European Operations
December 17, 2020 06:00 ET | Source: The Flowr Corporation The Flowr Corporation Toronto, Ontario, CANADA
Flowr and Terrace Global jointly operated the largest medical cannabis site in the European Union and one of the largest in the world. Please see:
.
Analytical test results show THC of 20% + in cultivars grown in polytunnels and a total yield of 35 kilograms (“kgs”), product the Company expects will be GMP compliant.
Analytical test results show THC in the range of 17-21% in premium cultivars and a total yield of more than 3,000 kgs of high-THC biomass cultivated.
R&D produces pheno-typing of six additional cultivars deepening the genetics portfolio.