TORONTO, Feb. 17, 2023 (GLOBE NEWSWIRE) -- The Flowr Corporation (the “Company”) announces that in connection with the closing of its previously announced sale transaction under the Companies’ Creditors Arrangement Act (Canada) (the “CCAA Proceedings”), all of the former officers and directors of the Company have resigned and the Court has expanded the powers of Ernst & Young Inc., which acts as the Court appointed Monitor under the CCAA Proceedings (the “CCAA Monitor”) in order to oversee the remaining activities in the CCAA Proceedings including any distribution to creditors and the winding down of operations.
On account of the Company having no operating business and having sold substantially all of its assets, as well as the resignation of its management and board of directors, the CCAA Monitor has requested that the common shares of the Company be delisted from the TSX Venture Exchange.
CONTACT INFORMATION
Ernst and Young Inc.
Court Appointed Monitor of The Flowr Corporation et al
EY Tower, 100 Adelaide Street West
PO Box 1
Toronto, ON M5H 0B3
Attention: Allen Yao at Allen.Yao@parthenon.ey.com
Phone: 416-932-4923 / 1-833-681-0537
Forward-Looking Information:
Certain statements made in this press release may constitute “forward-looking information” (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information may relate to anticipated events or results including but not limited to the delisting of the Company’s common shares from the TSX Venture Exchange.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
