TORONTO, August 7, 2018 – Flow Capital Corp. (“Flow Capital” and “Flow”) wishes to congratulate Inner Spirit Holdings Ltd. (“Inner Spirit”) on its successful listing on the Canadian Securities Exchange (“CSE”). Inner Spirit’s common shares began trading effective at the market open on August 1, 2018 under the symbol ISH.
Inner Spirit is a Flow Capital portfolio company. In January 2018, Flow Capital converted its royalty in WATCH IT! to common shares of Inner Spirit. Following the completion of Inner Spirit’s IPO, Flow Capital owns approximately 8.36% of the outstanding common shares of Inner Spirit.
Inner Spirit is establishing a chain of recreational cannabis dispensaries under its Spirit Leaf brand. Supporting local entrepreneurs by applying its award-winning franchise and retail models, Inner Spirit has more than 100 franchise partnerships in place for Spirit Leaf locations across BC, Alberta and Saskatchewan. Inner Spirit also intends to operate corporate dispensaries in certain jurisdictions. Developing a diverse portfolio of quality and curated lifestyle cannabis products – including Spirit Leaf’s own locally sourced lines – Inner Spirit and its Spirit Leaf brand is positioned to be an iconic Canadian brand and the most trusted source for recreational cannabis.
“Flow Capital congratulates Darren Bondar and the team at Inner Spirit on becoming the first Canadian recreational cannabis retail company to complete an initial public offering,” stated Robb McLarty, Acting Chief Executive Officer of Flow. “Inner Spirit’s success will be a meaningful contributor to increasing Flow’s net asset value. We believe that the intrinsic value of our portfolio of royalty, debt and equity positions, less net debt, continues to be significantly greater than our market capitalization.”
About Flow Capital
Based in Toronto, Flow Capital Corp. is a diversified alternative asset investor and advisor, operating two divisions: an investment operation providing revenue-linked capital to emerging growth businesses, and an institutional advisory sales platform providing pension funds, charities and endowment clients with access to leading institutional money managers from around the world. Learn more at www.flowcap.com.
For further information, please contact:
Flow Capital Corp.
Robb McLarty
Chief Executive Officer (Acting)
robb@flowcap.com
Phone: (416) 777-0383
1 Adelaide Street East, Suite 3002,
PO Box 171,
Toronto, Ontario M5C 2V9
Certain statements herein may be “forward-looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Flow or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Flow assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances.
