The Flowr Corporation Completes Strategic Acquisition of Terrace Global Inc. for $60 Million

December 24, 2020

The Flowr Corporation (TSX.V: FLWR; OTC: FLWPF) and Terrace Global Inc. (TSX.V: TRCE) completed a strategic acquisition pursuant to which The Flowr Corporation acquired all of the issued and outstanding common shares of Terrace Global Inc. in an all-share acquisition for an aggregate purchase price of approximately $60 million. The acquisition was affected by way of a court approved plan of arrangement under the Business Corporations Act (Ontario).

Wildeboer Dellelce LLP acted for Terrace Global in connection with the Transaction with a team comprised of Jeff Hergott, Carlye Bellavia and Katie Drury (corporate/securities/mergers & acquisitions) and Katy Pitch (tax).

The Flowr Corporation is a Toronto-headquartered cannabis company with operations in Canada, Europe, and Australia.  Flowr aims to support improving outcomes through responsible cannabis use and, as an established expert in cannabis cultivation, strives to be the brand of choice for consumers and patients seeking the highest-quality craftsmanship and product consistency across a portfolio of differentiated cannabis products. The strategic acquisition has resulted in a significant decrease to the issued and outstanding share capital, a combined company with a strong balance sheet and global footprint, and is expected to reduce overall indebtedness and increase synergies.

Full details can be found here.