The Flowr Corporation (OTC: FLWPF) just announced that it secured a loan commitment led by ATB Financial (ATB) for $50 million. Credit facilities from the loan allow Flowr to use them for general working capital and development for its Kelowna 1 Facility, Kelowna 2 Facility, and Flowr Forest. Each of the three ATB Credit Facilities has a 3-year maturity date.
Flowr also announced that the company has entered into a supply agreement with Alberta Gaming, Liquor & Cannabis (AGLC). This new supply agreement with AGLC made it the sixth province with direct access to the Flowr® brand product line.
Dr. Lyle Oberg, Chief Policy and Medical Officer of Flowr, stated: “As a proud Albertan and an active member in our community through the years, I am really excited Flowr is expanding distribution into the province as part of our efforts to provide as many recreational users in Canada as possible with access to Flowr® branded products. Consumers differentiate according to quality, based on terpene profile and overall experience, and we see a tremendous opportunity for Albertans to experience the difference that our cultivation expertise delivers. Flowr shares many of the same values as Albertans and we are proud to be able to make our cannabis available to all Albertans from Fort Chip to Sweet Grass and every place in between.”
The cannabis market in Alberta is considered to be one of the largest in Canada. Flowr has previous supply agreements in British Columbia, Manitoba, Nova Scotia, Ontario, Shoppers Drug Mart, and with a private dispensary in Saskatchewan.
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