The Flowr Corporation completes sale of The Flowr Group (Okanagan) Inc. to Avant Brands
TORONTO, Feb. 03, 2023 (GLOBE NEWSWIRE) — The Flowr Corporation (the “Company” or “Flowr”) announces that its wholly owned subsidiary, The Flowr Canada Holdings ULC, has closed on the previously announced sale of all of the shares of The Flowr Group (Okanagan) Inc. (“Flowr Okanagan”), and certain other assets of the Company, comprising substantially all of the assets of the Company to Avant Brands K1 Inc. (formerly 1000343100 Ontario Inc.) (the “Purchaser”), for total consideration of $5,115,000 plus the amount of the Closing DIP Loan and the Assumed Liabilities (as those terms are defined in the Acquisition Agreement) (the “Transaction”). The Transaction was completed pursuant to an amended and restated purchase agreement among the Purchaser, Flowr Okanagan and Flowr Canada Holdings ULC dated December 1, 2022, as amended.