- Flowr (FLWR.H) has requested to delist from the TSX Venture Exchange
- The former cannabis company has sold off all its assets and currently has no business to operate
- Recently, Flowr closed the $5.11 million sale of its B.C. subsidiary to Avant Brands (AVNT)
- Flowr’s management and board of directors also gave notice of their resignation
- Flowr (FLWR.H) last traded at $0.02 per share as of 1:00 p.m. EST
- Avant Brands (AVNT) is unchanged trading at $0.23 per share as of 1:02 p.m. EST
Former cannabis company, Flowr (FLWR.H) has requested to delist from the TSX Venture Exchange.
Over the last few months, the company has sold off all of its assets and currently has no business to operate.
Recent sale prompted delisting
Recently, Flowr closed the $5.11 million sale of its subsidiary, The Flowr Group Okanagan, to Avant Brands (AVNT). The subsidiary operates in Kelowna, British Columbia.
Avant’s acquisition of the subsidiary will expand its overall cultivation facilities to 185,000 square feet. The sale is also expected to increase Avant’s annual production by 60 per cent, making it one of Canada’s largest producers of indoor-grown, premium cannabis.
Additionally, Flowr’s management and board of directors gave notice of their resignation. As a result, a Companies’ Creditors Arrangement Act monitor has requested that the common shares of Flowr be delisted from the TSX Venture Exchange.
Flowr (FLWR.H) last traded at $0.02 per share at 1:00 p.m. EST.
Avant Brands (AVNT) is unchanged, trading at $0.23 per share as of 1:02 p.m. EST.