- Vinay Tolia, co-CEO of Flowr, sees the move as giving the company exposure to European and Australian markets
- The company believes that the combination of its cultivation expertise with Holigen’s development of large-scale cannabis facilities could result in one of the lowest-cost producers worldwide
- Clarus Securities has initiated coverage on FLWR stock with a ‘speculative buy’ rating and a one-year price target of $5; its research report projects adjusted EBITDA of C$6.8 million in FY2019
The Flowr Corporation’s (TSX.V: FLWR) (OTC: FLWPF) acquisition of 19.8 percent of Holigen Limited for a cash payment of C$6 million and the signing of an intellectual property sharing agreement is expected to have far-reaching benefits for the company. Flowr says that it will result in an acceleration of Holigen’s projects, including an outdoor cultivation license on a seven million square foot site in Portugal with the potential to produce 500,000 kg of cannabis products annually (http://nnw.fm/iv7Wk).
Flowr, through its subsidiaries, is a vertically integrated Canadian cannabis company and licensed producer that focuses on non-irradiated premium flower production. Its headquarters are in…
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