We believe the tailwinds of sustainability, premium product consumption and the demand for ‘better-for-you and better for-the-planet’ products will continue to accelerate market share gains for the Flow brand.” We are very grateful to our supporters who have helped Flow establish a broad customer base across North America. Nicholas Reichenbach, Founder and Executive Chairman of Flow, stated: “We are absolutely thrilled to be announcing our debut on the TSX. The Company expects that its subordinate voting shares will commence trading on the TSX on July 14, 2021. (the “Company” or “Flow”), is pleased to announce that it has received approval to list its subordinate voting shares on the Toronto Stock Exchange (the "TSX") under the trading symbol "FLOW". Each Subscription Receipt was automatically exchanged upon completion of the Amalgamation, for no additional consideration, for one Flow Water Class B Share and one-half of a Flow Water Subordinate Voting Share Warrant (on a post-Flow Consolidation basis), which was immediately exchanged for one Share of the Company and one-half of a Warrant of the Company.Ĭhris Birkett, Managing Director, Toronto Stock Exchange.TORONTO-( BUSINESS WIRE)-Flow Beverage Corp. On March 1 and 11, and Flow Water completed private placements of Subscription Receipts (the " Subscription Receipts") at $1.65 per Subscription Receipt (or $8.25 on a post-Flow Consolidation basis) for total gross proceeds of $98.9 million. The (i) Flow Water Class A Subordinate Voting Shares (the " Flow SVS") were consolidated on the basis of one post-consolidated Flow SVS for every 5 Flow SVS issued and outstanding immediately prior to the consolidation and (ii) Flow Water Class B Multiple Voting Shares (the " Flow MVS") were consolidated on the basis of one post-consolidated Flow Water MVS for every 5 Flow Water MVS issued and outstanding immediately prior to the consolidation (the " Flow Consolidation" and, together with the RG One Consolidation, the " Consolidations").Īs a result of the Amalgamation each Flow Water SVS and Flow Water MVS were exchanged for one Share of the Company and one Multiple Voting Share of the Company respectively, on a post-Flow Consolidation basis.The common shares of RG One were consolidated on the basis of one post-consolidated common share for every 404.84 common shares issued and outstanding immediately prior to the consolidation (the " RG One Consolidation") and.Pursuant to a recently effected amalgamation (" Amalgamation") involving RG One, Flow Water, and RG One Subco Inc., Flow became a wholly-owned subsidiary of RG One and RG One changed its name to "Flow Beverage Corp." Immediately prior to completion of the Amalgamation: (" RG One") and TSX Trust, as warrant agent, amended by the supplemental warrant indenture dated (the " Warrant Indenture"), the Company may accelerate the expiry of the Warrants in the event the daily volume weighted average closing price of the Shares on the Toronto Stock Exchange (" TSX") exceeds $12.50 for at least 10 consecutive trading days, by giving not less than 30 days' written notice to the Warrantholders. Pursuant to the terms of the original warrant indenture dated Mabetween Flow Water Inc. The Company does not anticipate paying cash dividends on the Shares in the foreseeable future. TSX Trust Company (" TSX Trust") at its principal office in Toronto for the Shares and Warrants. The Company markets its premium alkaline spring water in Canada and the United States in original unflavoured and a range of organic flavors. The Company launched its original, naturally alkaline, premium spring water in 2015. The Company is a health and wellness focused beverage company. Matthew Hoar SVP, Corporate Development (613) 252-6208 Email: Business Corporations Act Non-certificated inventory system administered by CDS for the Common Shares and Warrants. Subordinate Voting Share Purchase Warrants (" Warrants") Subordinate Voting Shares (the " Shares")
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