The company was recently featured in a Forbes article, where the publication addressed the company’s work leading up to the listing. In anticipation of today’s news, the company raised $27 million and took part in a reverse takeover. According to Flowr CEO Vinay Tolia, they will use the momentum from the listing to “focus on executing [their] business plan.”
The company is led by a team that holds a wealth of experience, including its president, Tom Flow, who co-founded the medical cannabis company MedReleaf, which was acquired by Aurora Cannabis (TSX:ACB) for $2.51 billion earlier this year. The company believes that this experience will help carry them forward in a growing market. “The people who are just getting into the game – they haven’t had their 10,000 hours,” Tolia is quoted as saying. “They’re making mistakes – things that these guys have gone through 10 years ago.”
Flowr is poised to enter the growing Canadian cannabis market with its flagship cultivation site in Kelowna, BC. “The 85,000-square-foot facility is expected to produce more than 13 tons of cannabis annually once it’s fully operational in 2019. The company will serve both the medical and adult-use markets.” The company is using proprietary cultivation systems that eliminate the need for irradiation, which has been proven to cause terpene degradation.
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