- Company recently announced submission of its application for common share listing on the Nasdaq Capital Market
- Uplisting will give the company broader access to international investors, Flowr executives believe
- Further steps are being undertaken to turn Flowr into a truly global company that benefits from serious competitive advantage over other cannabis producers
The Flowr Corporation (TSX.V: FLWR) (OTC: FLWPF), a Canadian licensed producer of premium cannabis products, announced in February that it has submitted an application for its common shares to be listed on the Nasdaq Capital Market. The company has also filed a Form 40-F registration statement with the U.S. Securities and Exchange Commission (“SEC”), according to a news release (http://nnw.fm/sv6fN).
Various regulatory requirements need to be met for the Nasdaq listing to be finalized. The Canadian Flowr Corporation will need to go through the registration of its common shares with the SEC and an assessment by Nasdaq to determine if Flowr has satisfied its listing requirements.
Until the approval becomes effective, Flowr Corporation shares will continue to trade on the OTC under ticker symbol ‘FLWPF’. Once all regulatory requirements have been fulfilled, a trading date will be made public.
A Nasdaq listing is an important step toward broadening Flowr’s access to international investors, company co-CEO Vinay Tolia said in a news release. So far, the company has made massive progress executing its business plan since going public in 2018. Further steps are being undertaken to turn Flowr into a truly global company, Tolia underlined.
To date, the Canadian cannabis licensed producer has designed and built 17 cultivation facilities. All of them feature innovative technologies and solutions that ensure high yields and low production cost. These facts give Flowr a competitive advantage in a niche that’s quickly expanding.
In the next few years, the cannabis product market is anticipated to go through a number of important changes. A supply glut is anticipated in the Canadian cannabis sector, with supply set to potentially exceed demand by 2020, according to analyst projections (http://nnw.fm/nck3G). As a result, producers who ensure high yields and cost efficiency will benefit from serious competitive advantage.
Flowr is already registering exceptional yield per square foot in its facilities. Due to its experience and focus on innovative cultivation practices, the company has reached a price point that other cannabis companies may be incapable of achieving.
The company is currently working on optimizing its yield even further. In 2019, Flowr expects to reach a production cost landmark of C$2.05 per gram.
In January 2019, Flowr announced a multilayer supply deal with Shoppers Drug Mart online store. Shoppers Drug Mart is Canada’s largest retail pharmacy chain. There are over 1,300 Shoppers Drug Mart locations across the country, and the partnership will give Shopper’s extensive patient network access to Flowr’s premium medicinal cannabis.
For more information, visit the company’s website at www.Flowr.ca
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