TORONTO -Flow Beverage Corp. today announced that Stephen A. Smith and Michael Lines have been appointed to the Company’s Board of Directors. Mr. Smith will chair Flow’s Audit Committee, and Mr. Lines will chair the Governance, Human Resources & Compensation Committee.
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“We believe adding depth to our Board in consumer packaged goods and retail operations will be instrumental in furthering the Company’s strategic transformation into a more streamlined operating model that is sharply focused on the Flow brand and profitable growth”
Mr. Smith has extensive leadership and managerial experience in the retail and hospitality sectors, previously serving as EVP Finance and CFO of Loblaw Companies Limited (TSX:L) and as co-CEO and CFO of Cara Operations Limited (now Recipes Unlimited). Mr. Smith currently serves on the Board of Directors of Organigram Holdings (TSX:OGI), Freshii (TSX:FRII), MAV Beauty Brands (TSX:MAV) and CE Brands (TSXV:CEBI).
Mr. Lines has 27 years of experience in the natural and traditional consumer packaged goods sector and is the Founder and President of Wellness Natural Inc. (Simply Protein). He has led branded and private label launches across numerous international markets and was instrumental in Flow’s entry into the U.S. market. Mr. Lines is also the Vice-Chair of Plant Based Foods of Canada.
“On behalf of the Flow Board of Directors, I am pleased to extend a warm welcome to both Stephen and Michael. We on the Board look forward to working with them as Flow continues with high growth and its path to profitability,” said Patrick Bousquet-Chavanne, Lead Independent Director.
“We believe adding depth to our Board in consumer packaged goods and retail operations will be instrumental in furthering the Company’s strategic transformation into a more streamlined operating model that is sharply focused on the Flow brand and profitable growth,” added Nicholas Reichenbach, Founder, Chairman and CEO of Flow.
About Flow
Flow is one of the fastest-growing premium water companies in North America. Founded in 2014, Flow’s mission since day one has been to reduce environmental impacts by providing sustainably sourced naturally alkaline spring water in a recyclable and up to 75% renewable, plant-based pack. Today, the brand is B-Corp Certified with a best-in-class score of 126.5, offering a diversified line of health and wellness-oriented beverage products: original naturally alkaline spring water, award-winning organic flavours, collagen-infused and vitamin-infused flavours in sizes ranging from 330-ml to 1-litre. All products contain naturally occurring electrolytes and essential minerals and support Flow’s overarching purpose to “bring wellness to the world through the positive power of water.” Flow beverage products are available online at flowhydration.com and are sold at over 36,000 stores across North America.
For more information on Flow, please visit Flow’s investor relations site at: investors.flowhydration.com.
Cautionary Statement
This press release may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Such forward-looking statements include, but are not limited to, information with respect to our objectives and the strategies for achieving those objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking statements are typically identified by the use of words such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, although not all forward-looking statements contain these words. Forward-looking statements are provided for the purposes of assisting the reader in understanding Flow and its business, operations, prospects, and risks at a point in time in the context of historical and possible future developments, and the reader is therefore cautioned that such information may not be appropriate for other purposes. Forward-looking statements are based on assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking statements. Those risks and uncertainties include the following: impact and spread of COVID-19; ability to achieve and manage growth; failure to expand sales capabilities; changes in consumer preferences; criticism of packaged water; maintain brand image and product quality; constrained or unavailable spring water sources; inability to package products; increased competition; accurately estimating demand; maintaining relationships with distributors and vendors; changing retail landscape; incorrect product design or development; product information misrepresentation; revenues derived entirely from packaged beverages; increases in costs or shortages of materials; fluctuation of quarterly operating results; no assurance of profitability; fluctuations in foreign currency; changes in government regulation; contamination or recalls of ingredients or end products; loss of intellectual property rights; litigation; future tax rates; catastrophic events; climate change; seasonal business; dependence on key information systems and third-party service providers; ability to securely maintain confidential information; maintaining and upgrading information technology systems; conflict of interest; dual class share structure; potential volatility of share price; no assurance of active market for shares; lack of dividends; global financial condition; publication of inaccurate or unfavorable research and reports; operating history; and management and conflict of interests. Consequently, all of the forward-looking statements contained herein are qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking statements contained herein are provided as of the date hereof, and we do not undertake to update or amend such forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.
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