The Flowr to acquire Terrace Global for $63m.

The Flowr, a Toronto-headquartered cannabis company, agreed to acquire Terrace Global, a Canadian company focused on the development and acquisition of international cannabis assets, for $63m. The transaction remains subject to certain other closing conditions including the receipt of certain approvals and the satisfaction of certain customary closing conditions. Upon completion of the Transaction, existing Flowr and Terrace Global shareholders would own approximately 60.9% and 39.1% of the pro forma company. “Terrace Global and Flowr have enjoyed a collaborative and symbiotic working relationship and share similar philosophies, making this transaction a strong fit for us. With Flowr, we believe that we can realize our full potential and are excited to participate in the upside of Flowr. Combining our complimentary management expertise, and collaborative strengths will result in a combined entity that is poised for global growth,” Francisco Ortiz von Bismarck, Terrace Global Chief Executive Officer.