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Overview

Flow Water Inc. Completes $90 Million Private Placement Offering of Subscription Receipts in Connection with Going Public Transaction

March 11, 2021

Flow Water Inc. (“Flow”), a premium alkaline spring water company, completed a brokered private placement offering of subscription receipts for aggregate gross proceeds of approximately $60 million on March 11, 2021 (the “Offering”). The Offering was completed in connection with Flow’s previously announced reverse take-over (“RTO”) with RG One Corp. Additionally, Flow closed its non-brokered financing of subscription receipts for gross proceeds of approximately $30 million to certain shareholders, friends, family and business associates on March 1, 2021 (“Non-Brokered Financing”).

Each subscription receipt issued in connection with the Offering and Non-Brokered Financing consisted of one full common share of Flow and one-half warrant. It is anticipated upon completion of the RTO that each subscription receipt will be exchanged for shares and warrants of RG One Corp., the resulting issuer (to be renamed “Flow Water Corp.”).

Stifel Nicolaus Canada Inc. acted as lead agent in respect of the Offering together with a syndicate of agents that included Scotia Capital Inc., Canaccord Genuity Corp., Echelon Wealth Partners Inc. and Roth Capital Partners LLC.

Wildeboer Dellelce LLP acted for Flow in connection with the Offering with a team comprised of Rob Wortzman, Carlye Bellavia, Natalie Tershakowec and Nick Robelek (corporate/securities).

Client

Flow Water Inc.
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