Welcome to our dedicated page for Flow Beverage news (Ticker: FLWBF), a resource for investors and traders seeking the latest updates and insights on Flow Beverage stock.
Flow Beverage Corp. (FLWBF), associated with the Flow premium water brand, has generated a series of significant news events that reflect both its beverage operations and its evolving financial and legal situation. Company press releases highlight Flow’s positioning as a B-Corp Certified premium water and wellness beverage brand founded in 2014, while also detailing developments in financing, governance, and restructuring.
News coverage includes announcements of secured business purpose loans and a secured convertible loan from NFS Leasing Canada Ltd. and RI Flow LLC, which Flow describes as senior secured lenders and affiliates of an investor group holding more than 10% of its voting rights on a partially diluted basis. These updates explain how the company has sought to address liquidity challenges and invest in working capital, referencing both the Flow brand and the Planet A co-packing business.
Investors following FLWBF will also find news about leadership changes, such as the appointment of a new Chief Financial Officer and the departure of prior executives, as well as board resignations. These governance updates are presented alongside financial results that discuss Flow brand net revenue, consolidated net revenue, gross margin and Adjusted EBITDA, and describe factors such as co-pack contracts and production capacity expansions.
More recently, Flow’s news releases have focused on restructuring and insolvency-related matters. The company announced receipt of demand letters and notices of intention to enforce security from its lenders, followed by a support agreement that contemplates transitioning ownership of its business to those lenders through a structured foreclosure. Subsequent news disclosed a receivership order appointing Richter Inc. as receiver over the business and assets of the company and its subsidiaries, a stay of proceedings, and a planned wind-down of remaining assets and liabilities under the Bankruptcy and Insolvency Act (Canada). The Toronto Stock Exchange’s review of Flow’s listing eligibility and the suspension of trading in its subordinate voting shares are also key topics in recent updates.
This news page allows readers to review these developments in sequence, from operational and financing milestones to governance changes and court-supervised restructuring steps, providing context for the history and current status of Flow Beverage Corp. and the Flow brand.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has announced the release of its third quarter fiscal 2024 financial results on September 16, 2024, after market close. The company will host a conference call and webcast on September 17, 2024, at 8:30 a.m. ET to discuss the results and provide a business outlook.
Key participants in the call will be Nicholas Reichenbach, Chairman and CEO, and Trent MacDonald, CFO and EVP Operations. Investors and analysts can join via phone or webcast, with replay options available until October 17, 2024.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has announced a sponsorship agreement with the Toronto International Film Festival (TIFF) for 2024 and 2025, becoming the exclusive hydration partner for still and sparkling water categories. The 49th TIFF, taking place from September 5 to 15, 2024, is expected to attract over 650,000 attendees.
Flow will launch its new Sparkling Mineral Spring Water at TIFF in August 2024, available in 300ml aluminum bottles with 75% recycled content. The water will come in OG and three flavors: Blackberry + Hibiscus, Lemon + Ginger, and Cucumber + Mint. To celebrate, Flow is running an e-commerce pre-order contest offering VIP TIFF screening experiences as prizes.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) is launching Flow Sparkling Mineral Spring Water in Canada in October 2024, followed by a U.S. rollout. The new product line features:
- 300ml aluminum bottles made from 70%+ recycled aluminum
- Four variants: OG (unflavored), Blackberry + Hibiscus, Lemon + Ginger, and Cucumber + Mint
- Zero sugar and zero calories
- Organic-certified flavors
The innovative packaging uses 30% less aluminum than competing formats and requires 60% less energy to produce. Flow is also installing a new production line for in-house aluminum bottle packing and co-packing services.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) has expanded its manufacturing agreement with BeatBox Beverages, increasing the minimum total revenue under contract to $213 million from $115 million. The agreement's term has been extended from five to six years. Flow plans to add two production lines at its Aurora facility over the next 12 months to meet increased demand.
As part of the amended agreement, BeatBox has committed to purchasing a $2 million convertible note from Flow by October 31, 2024. The note will bear 10% annual interest and be convertible into Flow's subordinate voting shares at $1.00 per share. This expansion aligns with Flow's profitability and cash flow goals for fiscal 2024 while maintaining its commitment to environmental and social values.
Flow Beverage Corp. (FLWBF) reported its Q2 2024 financial results, revealing a net revenue of $12.1 million, down 14% from Q2 2023. Flow brand net revenue declined by 26% to $7 million due to the exit of unprofitable partnerships. However, co-packing revenue grew by 12%. The company achieved a gross margin of 28%, improved from 18% in Q2 2023. Adjusted EBITDA loss was reduced to $3.5 million from $6.6 million in Q2 2023. CEO Nicholas Reichenbach credits restructuring efforts and a focused operating model for these improvements. Flow aims to achieve positive Adjusted EBITDA and cash flow by Q4 2024.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) will release its financial results for the second quarter of fiscal 2024 after market close on June 14, 2024.
A press release detailing these results will be issued before market open on June 17, 2024.
Additionally, a conference call and webcast hosted by Chairman and CEO Nicholas Reichenbach and CFO Trent MacDonald will take place on June 17, 2024, at 8:30 a.m. ET to discuss the financial results and provide a business outlook.
Investors can dial in using Conference ID 01170 or access the webcast through a provided link.
A replay of the call will be available until July 17, 2024.
Flow Beverage Corp. (TSX:FLOW; OTCQX:FLWBF) will participate in the Lytham Partners Spring 2024 Investor Conference on May 30, 2024. The event will be virtual, featuring a webcasted presentation and one-on-one meetings with investors.
The presentation, hosted by CFO and EVP of Operations Trent MacDonald, will occur at 1:15 p.m. ET and be accessible live and for replay. Investors can arrange one-on-one virtual meetings by contacting Lytham Partners or registering on the event's website.
Flow Beverage Corp. (TSX: FLOW, OTCQX: FLWBF) announced that Trent MacDonald, CFO and EVP Operations, will present at Water Tower Research's inaugural Consumer Products Virtual Investor Conference on June 5 and 6, 2024. MacDonald is scheduled to give a virtual presentation on June 5 at 10:30am ET and will be available for one-on-one meetings. The conference will feature presentations from various branded consumer products companies and will be hosted by Doug Lane, WTR's Head of Consumer Products. Investors can attend the conference online for free by registering through the provided link.
Flow Beverage Corp. announced the results of its annual general meeting, with over 72 million votes cast, approving all matters, including the election of five director nominees. Shareholders also approved the reappointment of Ernst & Young LLP as the auditor and the amendment to the Company's incentive plan.
Summary not available.