- Flowr Corporation (FLWR) has sold common shares and intends to complete a private placement for total proceeds of over C$8 million
- Under the securities purchase agreement, the company sold 33,400,000 units at $0.21 per unit for gross proceeds of $7,014,000
- The company intends to complete a non-brokered private placement for aggregate gross proceeds of up to $1 million
- It will use funds raised for debt repayments and for general corporate and working capital purposes
- Flowr expects the offering and direct placement to close on or about July 20, 2021
- The Flowr Corporation is a cannabis company with operations in Canada and the European Union
- Flowr Corporation (FLWR) is down by 2.22 per cent and is currently trading at $0.22 per share
Flowr Corporation (FLWR) has sold common shares and intends to complete a private placement for total proceeds of over C$8 million.
Under the securities purchase agreement, the company sold 33,400,000 units at $0.21 per unit for gross proceeds of $7,014,000.
The company intends to complete a non-brokered private placement for aggregate gross proceeds of up to $1 million.
Each unit consists of one Flowr common share and one common share purchase warrant.
Each warrant entitles the holder to acquire one common share for $0.26 for 42 months following the closing of the offering.
Flowr will use the proceeds for partial repayment of outstanding debt and for general corporate and working capital purposes.
The company expects the offering and direct placement to close on or about July 20, 2021.
The Flowr Corporation is a cannabis company with operations in Canada and the European Union.
Flowr Corporation (FLWR) is down by 2.22 per cent and is currently trading at $0.22 per share as of 11:38 am ET.
