The Markham, Ontario-based Flowr Corporation (TSXV: FLWR), which produces cannabis for both medical and adult recreational usage, announced an upper management shakeup this weekend.
Chief Operating Officer David Ralston has officially stepped down from his role with the company to pursue other opportunities in the industry.
Steve Klein, Chief Strategy Officer of Flowr Corporation, issued this statement in a press release to investors:
“We are grateful to David for his many contributions to building Flowr and preparing the company for medical sales and adult-use legalization. We wish him success in his future endeavors.”
Additionally, President Tom Flow will now move into the position of co-Chief Executive Officer of the company alongside Vinay Tolia, who has served as Flowr’s sole CEO since September.
Steve Klein further commented on the management structure shift:
“We have an aggressive agenda ahead of us to build a company that excels at cultivating premium cannabis and is positioned to tap into a wide range of exciting markets. Tom and Vinay’s skills are complementary and they have a great working relationship, which we believe will help ensure we capitalize on the opportunities ahead quickly and seamlessly.”
This management changeup news arrives after the company made its first delivery of cannabis products to the British Columbia Liquor Distribution Board in late-October.
Completed provincial shipments have been slow to arrive from a variety of cannabis companies due to the exceedingly high demand and slow rate of production increases on a limited timetable before legalization arrived on Oct. 17.
Emerald Health Therapeutics for instance just completed the company’s first full shipment to British Columbia last week.
Production boosts have been a focus of companies across the industry in the month since the Cannabis Act went into effect, with solutions ranging from portable grow facilities to construction of new large-scale permanent greenhouses.
Last month, Flowr teamed up with Hawthorne Canada Limited to break ground on a new 50,000 square foot cannabis research and development facility in Kelowna. The facility is slated to be complete and operational by summer 2019.
Flowr’s products are currently available in the pre-rolled and loose leaf form under the brand names Flowr and Ace Valley.
About Author
The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Grizzle hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.