The company noted in a release that its common shares will be listed on the Nasdaq under the symbol FLWR and the company's shares listed on the TSX Venture Exchange will continue to trade under the symbol FLWR.
The firm said a trading date will be announced when the company's Form 40-F registration statement becomes effective with the United States Securities and Exchange Commission.
"We have made tremendous progress against our strategic priorities in 2019, and the approval of our listing on the Nasdaq further enhances our capital markets objectives. This listing provides us with broader access to investors around the world and is a natural progression for Flowr," said Vinay Tolia, CEO of Flowr in a statement. "Later this year, we expect to complete construction of our purpose-built indoor cannabis facility, Kelowna 1, which will position us to pursue further expansion at our Kelowna campus, while at the same time advancing our global plans through our announced partnership with Holigen Holdings Ltd."
Flowr, through its subsidiaries, holds a cannabis production and sales licence granted by Health Canada.
Headquartered in Toronto with a production facility in Kelowna, British Columbia, Flowr builds and operates large-scale, cultivation facilities utilizing its own patented growing systems. When fully completed, Flowr’s Kelowna campus is expected to produce over 50,000 kg of premium flower annually.
Flowr is expanding globally in Portugal and Australia, and recently broke ground on a 50,000 square feet R&D facility in partnership with Hawthorne, a subsidiary of Scotts Miracle Gro.
Shares of Flowr were at C$6.96 in Canadian trading on Thursday.
Contact Katie Lewis at [email protected]