#tomflow

Canadian cannabis producer The Flowr Corporation (TSXV: FLWR) has been approved to have its shares listed on the Nasdaq Capital Market. The firm will commence trading under the ticker FLWR when its 40-F becomes effective, and it will continue trading on the TSX Venture under the same symbol. A Nasdaq listing is the Holy Grail for many pot stocks and Flowr chief executive Vinay Tolia was excited to reveal the news. “We have made tremendous progress against our strategic priorities in 2019, and the approval of our listing on the Nasdaq further enhances our capital markets objectives,” he said. “This listing provides us with broader access to investors around the world and is a natural progression for Flowr.” Flowr’s share price was C$7.09 when trading closed on Thursday, May 24, and it opened at C$7.60 today after news of the uplisting began to spread.

A High-Quality Offering

MedReleaf co-founder Tom Flow set up Flowr after spotting a gap for an ultra-premium offering within the nascent cannabis sector. It is based in Toronto, but it has a production facility in Kelowna, British Columbia, and it waxes lyrical about the majestic terroir of the surrounding Okanagan Valley on its website. The stated aim of the company is to produce the finest cannabis in Canada by investing in talent, equipment and high-quality raw materials, and essentially treating it with the same respect afforded to the region’s wines. It claims that poor quality, rather than high prices, has driven consumers to the black market. It plans to educate Canadians about the risks of the pesticide-ridden, mould-laden marijuana on the black market and champion the benefits of choosing a clean, regulated, premium product instead. Capacity is currently small, standing at just 5,000kg right now. However, it is expected to hit 52,000kg per year when expansion is complete. The site is currently 49,000 sq. ft. and it will be able to produce 10,200kg of flower on an annualized basis once it expands to 85,000 sq. ft. The next stage in the expansion is to add a 140,000 sq. ft. canopy, which can yield a further 42,000kg per year. It then plans to focus on launching in-house extraction, while it is creating a research and development facility dedicated to advancing cultivation techniques in partnership with Scotts Miracle-Gro.

A Global Operation