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Sunday, January 16, 2022

Why it’s Party Time for Flowr Corp (OTCMKTS:FLWPF) This Week

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One stock that may have escaped your attention, but one that deserves a look as a breakout this week in the OTC cannabis patch, is Flowr Corp (OTCMKTS:FLWPF). The stock is actually up over 30% in just the past week, with the big volume just coming in over the past 48 hours, suggesting that the crowd is just now starting to pay attention. To give a little more color, the company just announced that it has submitted an application to list its common shares on The NASDAQ Capital Market and has filed a Form 40-F Registration Statement with the U.S. Securities and Exchange Commission.

According to the release, “The listing of Flowr’s shares on the NASDAQ will be subject to a number of regulatory requirements, including registration of the common shares with the SEC and a determination by the NASDAQ that Flowr has satisfied all applicable listing requirements.  Subject to approval for listing, the common shares will continue to trade on the TSX Venture Exchange (TSXV) under FLWR.  A trading date will be made public once all regulatory formalities are satisfied.“

Flowr Corp (OTCMKTS:FLWPF) trumpets itself as a company that cultivates and produces medicinal cannabis in Canada. The company is based in Lake Country, Canada.

As the company notes, “Flowr was founded on the belief that quality cannabis should be accessible and safe to all. Committed to the perpetual improvement of our crops, we cultivate in advanced, state-of-the-art facilities, with our cannabis tended to by our team of experts. Through the continuous innovation of our procedures and practices, we create cannabis products that you will love and trust.”

The company was founded by Steve Klein, who now serves as its executive director, chairman, and CEO. Mr. Klein received his J.D., Magna Cum Laude, from Boston University Law School and a Master’s Degree in tax law from New York University Law School. He received his Bachelor of Science in business from the State University of New York in Albany. Mr. Klein is currently the Chief Executive Officer of Apple Core Holdings, which owns and operates hotels and event spaces, and provides seed capital to hedge funds, venture capital funds, and private equity funds. Previously, Mr. Klein was an attorney at Skadden Arps, and Slate, Meagher & Flom LLP.

According to company materials, “The Flowr Corporation (TSXV: FLWR) (OTC: FLWPF), through its subsidiaries, holds a cannabis production and sales licence granted by Health Canada.  With a head office in Toronto and a production facility in Kelowna, BC, Flowr builds and operates large-scale, GMP-designed cultivation facilities utilizing its own patented growing systems.  Flowr’s investment in research and development along with its sense of craftsmanship and a spirit of innovation is expected to enable it to provide premium-quality cannabis that appeals to the adult-use recreational market and addresses specific patient needs in the medicinal market.”

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As noted above, FLWPF just announced that it has submitted an application to list its common shares on The NASDAQ Capital Market and has filed a Form 40-F Registration Statement with the U.S. Securities and Exchange Commission.

Traders will note 43% piled on for shareholders of the listing during the trailing month. In addition, the name has seen a growing influx of trading interest, with the stock’s recent average trading volume running a bit less than 270% beyond its prior sustained average level. Traders should note this as important with the stock trading on a float that is extremely small at just 3M shares.

“Flowr has made tremendous progress executing on its business plan since becoming a public company last year and we believe the Company is well positioned to pursue additional growth opportunities,” said Vinay Tolia, Flowr’s Co-CEO. “A NASDAQ listing is an important step forward for Flowr because we believe it will broaden our access to international investors as we become a truly global company.”

Now commanding a market cap of $356.96M, FLWPF has virtually no cash on the books, which compares with virtually no total current liabilities. The company is pre-revenue at this point. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $FLWPF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $FLWPF, either long or short, and we have not been compensated for this article.

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