TORONTO, July 30, 2019 (GLOBE NEWSWIRE) — The Flowr Company (TSXV: FLWR; OTC: FLWPF) (“Flowr” or the “Firm”) is happy to announce that Holigen Holdings Restricted (“Holigen”), which Flowr is within the means of buying the remaining 80.2% curiosity, topic to regulatory approval, has by its subsidiary RPK Biopharma, Unipessoal Lda, obtained permission from INFARMED to plant cannabis on the Aljustrel mission in Portugal.
As well as, Flowr obtained a Well being Canada export allow that allowed it to make an preliminary cargo of clones from its Kelowna Campus to Portugal. The Firm leveraged its proprietary clear inventory protocol and carried out an intensive, nine-week built-in pest administration program that led to the receipt of the required phytosanitary certification to ship the clones. Flowr additionally utilized improvements to packaging to make sure the clones arrived wholesome and prepared for operations at Aljustrel.
Within the coming weeks, Flowr expects to ship a considerably bigger cargo of clones, upon receipt of relevant export permits, which is able to place Aljustrel properly for the deliberate 2019 planting and, in the end, an anticipated first harvest later this yr, pending remaining licensing.
“INFARMED’s authorization to plant cannabis at Aljustrel is a significant milestone within the growth of this mission, a cornerstone of our effort to service the worldwide medical cannabis market. Aljustrel is among the largest outside THC cultivation licenses within the developed world, and can be instrumental in offering large-scale, low-cost cannabis extract for pharmaceutical APIs, in addition to oils to service the European medical markets,” commented Vinay Tolia, Flowr’s Chief Govt Officer. “Congratulations to the workforce at Holigen for advancing this mission to this stage in such an environment friendly method. It is a testomony to their experience in allowing and licensing and we stay up for bringing our cultivation experience to this spectacular alternative, step one of which was our profitable preliminary cargo of wholesome clones.”
Aljustrel is a creating website for cannabis manufacturing, extraction, and manufacturing services in Portugal. Designated a Challenge of Nationwide Curiosity (“PIN”) by the Portuguese authorities, this designation offers the power to shortly transfer the mission by regulatory licensing processes, in addition to potential entry to funding. The plan is to construct and function a cannabis cultivation website on the 7,000,000 sq. foot property with a mixed potential annual dried cannabis flower capability of roughly 500,000 kilograms. Holigen is within the means of receiving all required licenses to function the Aljustrel website in Portugal.
About The Flowr Company
Flowr, by its subsidiaries, holds a cannabis manufacturing and gross sales license granted by Well being Canada. With a head workplace in Toronto and a manufacturing facility in Kelowna, BC, Flowr builds and operates large-scale, GMP-designed cultivation services using its personal rising methods. Flowr’s funding in analysis and growth together with its sense of workmanship and a spirit of innovation is predicted to allow it to supply premium-quality cannabis that appeals to the adult-use leisure market and addresses particular affected person wants within the medicinal market.
For extra info, go to flowr.ca. Observe Flowr on Twitter: @FlowrCanada; Fb: Flowr Canada; Instagram: @flowrcanada; and LinkedIn: The Flowr Company.
On behalf of The Flowr Company:
CEO and Director
Vice President, Communications & Public Relations
(877) 356-9726 ext. 1526
Head of Capital Markets
(877) 356-9726 ext. 1528
This press launch contains forward-looking info throughout the that means of Canadian securities legal guidelines relating to Flowr, Holigen and their respective companies, which can embrace, however aren’t restricted to: Flowr delivering a considerably bigger cargo of clones to Aljustrel, which is able to place Aljustrel properly for the deliberate planting and an anticipated first harvest later this yr; INFARMED’s authorization to plant cannabis at Aljustrel being a significant milestone within the growth of the mission and a cornerstone of Flowr’s efforts to service the worldwide medical cannabis market; Aljustrel being instrumental in offering large-scale, low value cannabis extract for pharmaceutical APIs and oils to service the European medical market; Holigen’s experience in allowing and licensing; Flowr bringing cultivation experience to Aljustrel; Aljustrel’s designation as a PIN and the advantages related therewith, together with faster licensing pathways and entry to funding; Flowr’s plans on constructing and working on the Aljustrel website; the scale and capability of the Aljustrel website; the enterprise, manufacturing and merchandise of Flowr, Holigen constructing what is predicted to be one of many largest cannabis cultivation initiatives on this planet; and Flowr’s funding in analysis and growth, together with its sense of workmanship and spirit of innovation enabling it to supply premium-quality cannabis that appeals to the adult-use leisure market and addresses particular affected person wants within the medicinal market.
Typically, however not at all times, forward-looking info might be recognized by way of phrases akin to “potential”, “plans”, “is predicted”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (together with unfavorable and grammatical variations) of such phrases and phrases, or state that sure actions, occasions or outcomes “could”, “may”, “would”, “would possibly” or “will” be taken, happen or be achieved. Such statements are primarily based on the present expectations of Flowr’s administration and are primarily based on assumptions and topic to dangers and uncertainties. Though Flowr’s administration believes that the assumptions underlying these statements are cheap, they might show to be incorrect. The forward-looking occasions and circumstances mentioned on this press launch could not happen by sure specified dates or in any respect and will differ materially on account of identified and unknown danger elements and uncertainties affecting Flowr, together with dangers referring to Flowr failing to ship clones to Holigen, together with on account of failing to obtain the required import permits; Holigen not with the ability to import the clones, plant the clones or harvest them on the timelines described on this press launch or in any respect; the authorization from INFARMED to plant at Aljustrel not proving to be a significant milestone within the growth of the mission and a cornerstone of Flowr’s efforts to service the worldwide medical cannabis market; Aljustrel failing to supply large-scale, low value cannabis extract for pharmaceutical APIs and oils to service the European medical market, which might have a fabric influence on Flowr’s enlargement efforts and skill to broaden into these markets; Flowr failing to carry its cultivation experience to Aljustrel or not having the experience to develop outside, which may lead to crop failures and the lack of Flowr to enter into the worldwide medical markets; Aljustrel’s designation as PIN not offering the advantages described on this press launch or the failure of Holigen to take care of its PIN designation, which may influence Holigen’s licensing pathways and entry to funding; Flowr’s not having the funds, capability or experience to construct and function on the Aljustrel website; the scale and capability of the Aljustrel website not reaching the quantities and/or measurement described on this press launch; Aljustrel not receiving its remaining licences or Holigen being delayed in receiving them; the failure to acquire regulatory approvals (together with approval of Well being Canada and/or INFARMED); dangers referring to using Flowr’s or Holigen’s merchandise; dangers referring to the markets through which Flowr and Holigen function and/or distribute their respective merchandise; dangers related to working within the markets through which Flowr and Holigen function; the failure to obtain licenses and/or assemble Flowr’s and/or Holigen’s services and websites; Holigen’s license and/or product purposes being delayed or not accomplished; common financial and inventory market situations; Flowr’s funding in analysis and growth, together with its sense of workmanship and spirit of innovation failing to supply and distribute premium-quality cannabis that appeals to the adult-use leisure market and addresses particular affected person wants within the medicinal market; dangers and uncertainties detailed on occasion in Flowr’s filings with the Canadian Securities Directors; and plenty of different elements past the management of Flowr.
Though Flowr has tried to determine necessary elements that would trigger precise actions, occasions or outcomes to vary materially from these described in forward-looking info, there could also be different elements that trigger actions, occasions or outcomes to vary from these anticipated, estimated or supposed. No forward-looking info might be assured. Besides as required by relevant securities legal guidelines, forward-looking info speaks solely as of the date on which it’s made and Flowr undertakes no obligation to publicly replace or revise any forward-looking info, whether or not on account of new info, future occasions, or in any other case.
Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this press launch.
Get Actual-Time Updates from The Each day Marijuana Observer