MJBizMag February 2023 - 17

COMPANY NEWS
CANADIAN DEVELOPMENTS
The company's Canadian
Flower One Holdings Closes
Canadian Restructuring
Flower One Holdings, the former
Canadian parent company of
Nevada cannabis company Flower
One, closed a restructuring deal and
implemented a plan of arrangement
under the Companies' Creditors
Arrangement Act (CCAA).
Toronto-based Flower One
Holdings said in a news release
that after the restructuring,
" the Canadian company has
ceased to own any U.S. operating
subsidiaries. "
subsidiaries-Flower One Corp.
and FO Labour Management-will
make bankruptcy assignments.
Flower One said a U.S. restructuring
plan also has been executed
but remains subject to approvals
by Nevada's cannabis regulator.
Flowr Selling Assets
For $3.7 Million-plus
British Columbia cannabis
cultivator The Flowr Corp.
is selling
" substantially
all " of its assets
to Avant Brands
K1 as part of a sale and investment
solicitation process after entering
creditor protection in late October.
The asset sale is worth
$3.7 million, plus the amount of a
debtor-in-possession loan originally
worth $1.5 million.
Avant Brands K1 (previously
known as 1000343100 Ontario) is
50% owned by Avant Brands, and
the purchase price includes nearly
$800,000 in Avant shares.
Have a company announcement you
want us to consider? Send a news
release or general information to
magazine@mjbizdaily.com.
(Note: We're looking for news
about expansions, financing,
deals, partnerships and similar
developments, not product-related
announcements.)

MJBizMag February 2023

Table of Contents for the Digital Edition of MJBizMag February 2023

MJBizMag February 2023 - 1
MJBizMag February 2023 - 2
MJBizMag February 2023 - 3
MJBizMag February 2023 - 4
MJBizMag February 2023 - 5
MJBizMag February 2023 - 6
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