The Flowr Corporation Closes $25 Million Credit Facility

The Flowr Corporation (TSXV: FLWR; OTC: FLWPF) (“Flowr” or the “Company”) is pleased to announce that it has closed its previously announced credit facility from a syndicate of lenders led by ATB Financial (“ATB”) and including Farm Credit Canada. The $25 million facilities consist of a $24.5 million recapitalization term facility and a $500,000 revolving operating credit facility (together the “ATB Credit Facilities”). Pursuant to conditions of the ATB Credit Facilities, Flowr will receive a first tranche of funding of approximately $20.05 million on closing with the remaining of the recapitalization term facility available subject to certain conditions.

“We are extremely pleased to strengthen our financial position through non-dilutive financing at attractive pricing,” commented Vinay Tolia, Flowr’s Chief Executive Officer.  “The reduced size of the ATB Credit Facilities compared to the initial commitment reflects our reduced capital needs as we focused on those investments with the greatest potential to generate cash flow in the near term.  With our third quarter earnings release on November 26, 2019, we will provide our shareholders with a comprehensive business update.”

The ATB Credit Facilities have a maturity date of three (3) years. The applicable margins for the ATB Credit Facilities are subject to certain performance-pricing grids, as well as certain standby fees. The Company will be subject to customary financial and restrictive covenants under the terms of the ATB Credit Facilities.

Additional details on the ATB Credit Facilities can be found in the Company’s documents filed on www.SEDAR.com.

THIRD QUARTER 2019 RESULTS RELEASE AND CONFERENCE CALL

The Company will release its third quarter 2019 results after the close of the financial markets on Tuesday, November 26, 2019, which will be followed by a conference call and webcast to review these results at 5:30 p.m. Eastern Time.

Conference call and webcast details are as follows:

Toll Free: 1-833-227-5845

Toll/International: 1-647-689-4072

Webcast: flowr.ca/investors

Conference call replay details are as follows:

Toll Free: 1-800-585-8367

Toll/International: 1-416-621-4642

Passcode: 8052839

Webcast: flowr.ca/investors

The replay of the conference call will be available through midnight on Tuesday, December 3, 2019.

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 that is currently under construction.  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 will operate GMP-designed manufacturing facilities in Portugal and Australia.

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.

For more information, please visit flowr.ca or follow Flowr on Twitter: @FlowrCanada and LinkedIn: The Flowr Corporation.

On behalf of The Flowr Corporation:

Vinay Tolia
CEO and Director

CONTACT INFORMATION:

MEDIA:

Sean Griffin
Vice President, Communications & Public Relations
(877) 356-9726 ext. 1526
sean.griffin@flowr.ca

INVESTORS:

Thierry Elmaleh
Head of Capital Markets
(877) 356-9726 ext. 1528
thierry@flowr.ca