- The Flowr Corporation (FLWR) has closed the sale of its indirect wholly-owned subsidiary, Holigen Limited to Akanda Corp.
- The Flowr Corporation received approximately $3,750,000 in cash and 1,900,000 common shares of Akanda
- Flowr also completed a private placement offering for total proceeds of approximately $1,000,000
- The Flowr Corporation is a cannabis company with operations in Canada
- The Flowr Corporation (FLWR) opened trading at C$0.055 per share
The Flowr Corporation (FLWR) has closed the sale of its indirect wholly-owned subsidiary, Holigen Limited to Akanda Corp.
The Flowr Corporation received approximately $3,750,000 in cash, 1,900,000 common shares of Akanda, the assumption by Akanda of approximately $5,100,000 of RPK’s indebtedness and at least $834,000 of interim funding to Holigen.
Flowr also completed a private placement offering of 14,285,714 common shares at a price of $0.07 per share for total proceeds of approximately $1,000,000.
Flowr will use the gross proceeds to fund expenses incurred by Holigen from the date of the purchase agreement until the closing date of the sale.
The Flowr Corporation is a cannabis company with operations in Canada. Its operating campus includes an indoor cultivation facility, an outdoor and greenhouse cultivation site and an R&D facility.
Flowr aims to support improving outcomes through responsible cannabis use and, as an established expert in cannabis cultivation, strives to be the brand of choice for consumers and patients seeking the highest-quality craftsmanship and product consistency across a portfolio of differentiated cannabis products.
The Flowr Corporation (FLWR) opened trading at C$0.055 per share.