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Tag Archives: The Flowr Corporation

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THE FLOWR CORPORATION CLOSES OVERSUBSCRIBED $C36 MILLION SUBSCRIPTION RECEIPT OFFERING IN STEP TOWARD SHARE LISTING

THE FLOWR CORPORATION CLOSES OVERSUBSCRIBED $C36 MILLION SUBSCRIPTION RECEIPT OFFERING IN STEP TOWARD SHARE LISTING
The Flowr Corporation (“Flowr” or the “Company”) is pleased to announce that it has closed its offering (the “Offering”) of subscription receipts of Flowr (“Subscription Receipts”), which was oversubscribed and raised approximately $C36 million.  The offering is a further step toward completing the Company’s previously announced plan to effect a reverse takeover of The Needle Capital Corp. (“Needle”), which is anticipated to occur on or before September 10.  Further detail on the offering is below.
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The Needle Capital Corp. Enters into Agreement with The Flowr Corporation to Complete Business Combination and Concurrent Financing Transactions

The Needle Capital Corp. Enters into Agreement with The Flowr Corporation to Complete Business Combination and Concurrent Financing Transactions
The Needle Capital Corp. (TSXV:NEDL.P) (“Needle” or the “Company”), a capital pool company as defined under Policy 2.4 – Capital Pool Companies (“CPC”) of the TSX Venture Exchange (the “Exchange”), is pleased to announce it has entered into a business combination agreement dated August 27, 2018 (the “Agreement”) with The Flowr Corporation (“Flowr”) whereby Needle and Flowr will effect a transaction that will result in a reverse takeover of Needle by the shareholders of Flowr (the “Transaction”) to ultimately form the resulting issuer (the “Resulting Issuer”). Upon completion of the Transaction, it is the intention of the parties that the Resulting Issuer  will continue the business of Flowr subject to the terms and conditions outlined below. Needle intends that the Transaction will constitute its Qualifying Transaction, as such term is defined in Policy 2.4 of the Exchange.  In addition, the Transaction constitutes a "Non-Arm's Length Qualifying Transaction" as defined in Policy 1.1 of the Exchange.
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