Canadian cannabis firm Flowr debuts on TSX Venture Exchange

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Flower TSX, Canadian cannabis firm Flowr debuts on TSX Venture Exchange

Shares of cannabis cultivator The Flowr Corp. have officially begun trading on the TSX Venture Exchange under the ticker symbol FLWR.

The trading debut  follows Flowr’s recent raise of 36 million Canadian dollars ($27.7 million) and reverse takeover of a shell company previously listed on the exchange.

The company has a license from Health Canada and agreements in place to sell cannabis in three provinces for adult recreational use when that market launches Oct. 17.

Founded by Tom Flow, a co-founder of MedReleaf, the company is in the midst of building out an 85,000-square-foot cultivation facility in Kelowna, British Columbia.

The facility is about 20% operational, with the remainder expected to go online in 2019, according to the company.

In March, Flowr entered into an exclusive research and development agreement with Hawthorne Gardening Co., a subsidiary of Columbus, Ohio-based Scotts Miracle-Gro.

Under that agreement, Hawthorne will cover the costs to build a 50,000-square-foot facility to house researchers from both firms as well as indoor greenhouses, genetics breeding areas and training areas.

That facility is expected to open next year.