Flowr Corp. - CEO, Darryl Brooker.
CEO, Darryl Brooker.
Source: Flowr Corp.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • The Flowr Corporation (FLWR) has completed its first shipment of premium cannabis from Canada to Israel
  • This initial shipment consisted of two strains of Flowr’s premium cannabis, BC Black Cherry and BC Strawnana, for a total cost of $825,000
  • Flowr expects to ship additional exports of its premium cannabis brands to Israel later in 2022
  • The company also announced today that its subsidiary in Portugal expects to harvest at least 300 kilograms of indoor grown medical cannabis in Q1 2022.
  • The Flowr Corporation is a Canadian cannabis company with operations in Canada and the European Union
  • Shares in The Flowr Corporation (FLWR) are up 7.69 per cent, trading at $0.07 per share

The Flowr Corporation (FLWR) has completed its first shipment of premium cannabis from Canada to Israel.

As part of Flowr’s international supply agreement with Focus Medical Herbs, the shipment represents the company’s debut into the Israeli cannabis market and its first significant international export.

This initial shipment consisted of two strains of Flowr’s premium cannabis, BC Black Cherry and BC Strawnana, for a total cost of $825,000.

Flowr expects to ship additional exports of its premium cannabis brands to Israel later in 2022 as part of its three-year partnership with Focus Medical.

“We are extremely pleased to have completed our first shipment to Israel as part of our partnership with IMC and Focus Medical,” commented Flowr’s CEO Darryl Brooker. “As the Israeli medical cannabis industry continues to grow, we expect the market to be an important destination for us to grow our brand and distribution reach internationally.”

Flowr also announced today that in Portugal, its wholly-owned subsidiary Holigen Holdings Limited expects to harvest at least 300 kilograms of indoor-grown medical cannabis in the first quarter of 2022.

Holigen is in the final stages of cultivating BC Black Cherry and BC Strawnana strains and expects to commence harvesting at its purpose-built indoor facility in Sintra, Portugal by the end of January 2022.

“Our strategy in Portugal is appearing to pay dividends,” said Mr. Brooker. “We are very much looking forward to the near-term results in Portugal and see the E.U. as an under-valued and under-appreciated part of our business.”

The Flowr Corporation is a Canadian cannabis company with operations in Canada and the European Union.

Its Canadian operating campus, located in Kelowna, British Columbia, includes a purpose-built, GMP-designed indoor cultivation facility, an outdoor and greenhouse cultivation site, and a state-of-the-art R&D facility.

Shares in The Flowr Corporation (FLWR) are up 7.69 per cent, trading at $0.07 per share as of 10:35 am EST.

More From The Market Herald

" BioHarvest (CSE:BHSC) predicts 2022 revenue to grow up to 3.5 times

BioHarvest Sciences Inc. (BHSC) expects strong revenue growth to continue in 2022 due to a successful over-delivery of projected revenue targets from last year.

" Icanic Brands (CSE:ICAN) agrees to acquire cannabis extraction company

Icanic Brands Company (ICAN) has signed a definitive agreement to acquire 100 per cent of LEEF Holdings Inc.
Tilray - Denise Faltischek, Head of International and Chief Strategy Officer.

" Tilray (TSX:TLRY) expands Australian medical cannabis offering

Tilray (TLRY) has expanded its medical cannabis product suite in Australia.

" Craftport Cannabis (CSE:CFT) announces $3M private placement

Craftport Cannabis (CFT) has announced a non-brokered private placement for gross proceeds of $3 million.