Flow and RG One are also pleased to announce the closing on March 1, 2021 the unmediated financing previously announced by Flow of subscription receipts for gross proceeds of $ 30 million to certain existing shareholders, friends, family and business associates of the Company who are convertible on terms similar to those of the Private Placement with Broker (the “Private Placement without Broker”).
It is proposed to exchange the Subscription Receipts of the Broker Private Placement and the Non-Broker Private Placement for RG One Corp. Shares and Warrants. (“RG One”) upon completion of Flow’s previously announced public IPO transaction by way of a reverse takeover transaction with RG One and Flow (the “Transaction”). As part of the Transaction, Flow will consolidate its shares on a five-to-one basis. At March 10, 2021, Flow and RG One have replaced their non-binding LOI with a binding LOI between them.
“We are extremely pleased with the support from existing shareholders and look forward to welcoming a new group of investors into the Flow family,” said Nicolas reichenbach, founder and executive chairman of Flow.
“We are blown away by the overwhelming response from institutional and retail investors in Canada and the United States, which are excited about Flow’s innovative business model and its strong environmental, social and governance (“ESG”) value proposition. This capital increase will allow us to continue our expansion in a booming industry. Flow is one of the fastest growing premium alkaline spring water and wellness drink brands in North America. He’s driven by our incredibly loyal customers and amazing celebrity partners, including NBA Superstar and Investor Flow, Russell westbrook. Flow is an industry leader in a larger movement for sustainability and well-being on a global scale, ”said Reichenbach.
“The IPO will allow Flow to reach its potential as a leading force in the premium water and wellness drink categories in North America“said Maurizio Patarnello, new CEO of Flow (” CEO “).
“We will continue to focus on the fundamentals, such as strengthening our production capacity, deepening penetration in major conventional retailers through Canada and in the United States, by investing in our talent and promoting Flow with innovative marketing initiatives. I am passionate about the high quality and innovative products of Flow and hope that this passion will be shared by the general public ”, concluded Mr. Patarnello.
Funding has been finalized in anticipation of the Operation. The Transaction is subject to the conclusion of the final agreement governing the Transaction, to obtaining all regulatory and stock market approvals and to meeting the usual closing conditions.
About the flow
Flow Water Inc. (“Flow Alkaline Spring Water ™” or “Flow®”) is a premium alkaline spring water company with a diverse line of wellness-focused beverages sold online and at retailers everywhere. in North America. Flow’s premium alkaline spring water comes in an original range of award-winning, unflavored organic flavors, in sizes ranging from 330ml to 1 liter, and in 6, 12 and 24 pack sizes. Due to its unique artesian spring sources, Flow products contain natural electrolytes and essential minerals, and its original and flavored water products have an alkaline pH at the source. As part of its continued innovation in wellness drinks, Flow recently introduced new ranges of collagen infused waters with natural flavors and vitamin infused waters with certified organic flavors.
Founded in 2015 by serial entrepreneur, mission driven Nicolas reichenbach, Flow is highly dedicated to sustainability and is a B-Corp certified company whose goal is “to bring well-being to the world through the positive power of water”. Reichenbach founded Flow with the belief that its spring water products should be packaged in renewable plant-based Tetra Pak ™ cartons using sustainable manufacturing operations.
Flow drinks are available online at flowhydration.com, and are sold at more than 25,000 retailers across United States and Canada, including Whole Foods Market, Loblaws, Sobeys, Metro, Shoppers Drug Mart, Farm Boy, Sprouts Farmers Market, Safeway, Wegmans, Harris rocking, Walmart, Sam’s Club, Giant Eagle, Bristol Farms, Raley’s, Vitamin Shoppe and Duane Reade, among others.
This press release contains certain forward-looking statements that reflect the current views and / or expectations of the management of RG One and Flow with respect to future performance, activities and events, including, but not limited to, express or implied statements and assumptions regarding RG One and Flow’s intention to negotiate or complete the Transaction. Forward-looking statements are based on then-current expectations, beliefs, assumptions, estimates and forecasts about the company, industry and markets in which RG One and Flow operate. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. In particular, there is no guarantee that the parties will negotiate and successfully conclude the definitive agreement or complete the Transaction contemplated herein, or that RG One will obtain the required approvals from shareholders or regulatory authorities, including the listing of its shares at the end of the Transaction. in stock exchange. Therefore, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. Neither RG One nor Flow undertakes to publicly release revisions to update voluntary forward-looking statements, except as required by applicable securities law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any state securities law and may not be offered. or sold in United States or to US Persons, unless they are registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available. Not for distribution to US news services or for broadcast in United States. Any breach of this restriction may constitute a violation of United States securities laws.
All information in this press release regarding Flow, its business and funding has been provided by Flow for inclusion here. RG One has not performed due diligence on the information provided and assumes no responsibility for the accuracy or completeness of such information.
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISTRIBUTION IN UNITED STATES.
SOURCE Flow Water Inc.
For More Information: For more information on Flow, please visit flowhydration.com, or contact in the US: ICR, Inc. – Investors: [email protected], and Media: [email protected]; and, in Canada: Natasha Koifman, [email protected], and Mélissa Augimeri, [email protected]