FLWPF - Flowr to sell Kelowna facility to Hawthorne for C$16M

The Flowr (OTCPK:FLWPF) is selling its interest in the Kelowna Research Station R&D facility to Hawthorne Canada for C$16M. The total consists of an initial cash payment of C$3M; full extinguishment of the principal amount outstanding under the existing loan agreement between Flowr and Hawthorne for the construction of the KRS Facility on closing, currently at ~C$12M; and the balance of the purchase price paid in cash upon closing. The sale is expected to close in Q2 2022 and is subject to certain conditions. In addition, Flowr said that four new genetics, BC Clementine Crush, BC Lemon Ice, BC Spiced Grape and BC Mango Melon OG, have been approved for listing across multiple provinces, including Quebec, Ontario, Alberta and British Columbia, launching in March, April and May 2022. Flowr noted that it has completed trialing 44 new genetics and will shortly begin commercial growing of up to 10 new and exotic genetics

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Flowr to sell Kelowna facility to Hawthorne for C$16M