FLWPF - Flowr announces equity raise of $1M

Flowr Corp ([[FLWPF]] -5.1%) intends to complete a non-brokered private placement of common shares of Flowr for gross proceeds of up to $1M led by certain directors, officers and insiders, issued at $0.30/share. Proceeds will be used for general working capital purposes.In addition, in connection with the Company’s previously announced acquisition of Terrace Global, the Company proposes to satisfy its obligation to make change of control payments to certain former directors and officers of Terrace by issuing 276.6k shares at a deemed price of $0.44/share. The company also proposes to pay a portion of the fees by issuing 467k shares at $0.44/share.

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Flowr announces equity raise of $1M