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Overview

The Flowr Corporation Completes $35 Million Sale of Subsidiary Holigen Holdings to Akanda Corp. and Cannahealth Limited

May 02, 2022

The Flowr Corporation (TSXV: FLWR, OTC: FLWPF) completed the sale of its wholly-owned subsidiary, Holigen Holdings Limited (“HHL”) to Akanda Corp. (NASDAQ: AKAN) and Cannahealth Limited, a wholly-owned subsidiary of Akanda. Pursuant to the Purchase Agreement, the Purchaser will acquire from HHL all of the issued and outstanding shares of Holigen Limited together with certain intercompany receivables for approximately $35 million. HHL, indirectly owns all of the issued and outstanding shares of RPK Biopharma Unipessoal, Lda. (“RPK”), which owns and operates the E.U. GMP facility located in Sintra, Portugal, and the outdoor medical facility located in Aljustrel, Portugal.

Wildeboer Dellelce LLP represented The Flowr Corporation with a team including Jeff Hergott, Ragu Anantharajah and Jeff Arnold (corporate/securities) and Katy Pitch (tax).

Full press release, click here.