The Flowr Corporation (TSX.V: FLWR), a Canadian Licensed Producer of premium cannabis products, this morning announced that it has acquired a 19.8% interest in Holigen Limited for a cash payment of CAD $6 million. The European-based cannabis company is presently developing large-scale cannabis cultivation facilities and Good Manufacturing Process (“GMP”) compliant production facilities. These facilities are anticipated to provide finished medical cannabis products, pharmaceutical ingredients, and plants and seeds to medical cannabis markets worldwide. Per the update, Flowr entered into an exclusive termed intellectual property (“IP”) licensing agreement to provide its cultivation, facility design and construction IP to Holigen during the construction of its facilities in Portugal and Australia and for obtaining its final licenses in those territories. Holigen anticipates it will complete its licensing process for its first site in Portugal by mid-2019 and expects to be part of a small group of licensed producers in Europe operating in GMP-compliant facilities. “The combination of Holigen’s strong management team and incredible assets along with our cultivation, design and construction IP will create what we believe will be a worldwide leader in production,” FLWR Co-CEO Tom Flow stated in the news release.
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About The Flowr Corporation
Flowr, through its subsidiaries, is a vertically-integrated Canadian cannabis company focused on the natural science of cannabis. With head offices in Markham, ON and production in Kelowna, B.C., Flowr builds and operates large-scale, GMP designed cultivation facilities utilizing their own patented growing systems. Flowr’s investment in research and development ensures that its cultivation team is able to supply patients with consistent, high-quality medicinal cannabis. With a sense of craftsmanship and a spirit of innovation, Flowr is also well positioned with a line of premium quality cannabis products for the upcoming adult-use market. For more information, follow Flowr on Twitter: @FlowrCanada; Facebook: Flowr Canada; and Instagram: @flowrcanada or visit the company’s website at www.Flowr.ca
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