Flow Beverage Corp. Extends Director and Senior Officer Lock-Up Period

TORONTO--()--Flow Beverage Corp. (TSX:FLOW) (OTCQX:FLWBF) (“Flow” or the “Company”) is pleased to announce that all directors and senior officers of Flow have entered into voluntary Extended Lock-Up Agreements in relation to Flow’s private placements of 41,763,848 subscription receipt units for aggregate gross proceeds of $68,910,348 (the “Private Placements”), which Private Placements closed on March 11, 2021 and May 14, 2021. In connection with the Private Placements, all insiders of Flow Water Inc. entered into 180-day lock-up agreements with the syndicate of agents (the “Agents”) which expire on December 29, 2021.

Pursuant to the Extended Lock-Up Agreements, all directors and senior officers of Flow have agreed to lock-up their subordinate voting shares until June 26, 2022, an additional 180-day period (the “Extended Lock-Up Period”).

During the Extended Lock-Up Period, directors and senior officers of Flow may not trade their subordinate voting shares without consent from the Agents. The total number of subordinate voting shares held by directors and senior officers is currently 989,317. A further 4,214,558 multiple voting shares are also held by directors and senior officers of Flow but must be converted into subordinate voting shares to be tradeable.

ABOUT FLOW

Flow is a premium alkaline spring water company with a diversified line of health and wellness-oriented beverage products sold online and at retailers throughout North America. Flow's premium alkaline spring water is offered in original unflavored and a range of award-winning organic flavors, in sizes ranging from 330-ml to 1-liter.

Due to its unique artesian spring sources, Flow products contain naturally occurring electrolytes and essential minerals, and its original and flavored water products have an alkaline pH. As part of its ongoing innovation into functional "better-for-you" beverages, Flow recently introduced a new line of collagen-infused waters with natural flavors.

Founded in 2014 by serial, mission-driven entrepreneur Nicholas Reichenbach, Flow is highly dedicated to sustainability and is a B-Corp Certified company with a purpose to "bring wellness to the world through the positive power of water." Flow set out to be a sustainable brand, packaging its products in up to 75% renewable-resource-based Tetra Pak™ cartons utilizing sustainable operations.

Flow beverage products are available online at flowhydration.com, and are sold at over 20,000 stores across the United States and Canada, including Target, Publix, Walmart, Costco, Whole Foods Market, Loblaws, Sobeys, Metro, Shoppers Drug Mart, Farm Boy, Sprouts Farmers Market, Safeway, Wegmans, Harris Teeter, Giant Eagle, Bristol Farms, Raley’s, and Duane Reade, among others.

Follow Flow on social media: Instagram (https://www.instagram.com/flow/); Twitter (https://twitter.com/FlowHydration); and Facebook (facebook.com/FlowHydration).

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 unfavourable 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.

Contacts

Devan Pennell, Chief Financial Officer
1-844-356-9426
investors@flowhydration.com

US Investors:
Ashley DeSimone
Ashley.DeSimone@icrinc.com

Canadian investors:
Marc Charbin
investors@flowhydration.com

Media:
Natasha Koifman
nk@nkpr.net

Release Summary

All directors and senior officers of Flow have entered into voluntary Extended Lock-Up Agreements.

Contacts

Devan Pennell, Chief Financial Officer
1-844-356-9426
investors@flowhydration.com

US Investors:
Ashley DeSimone
Ashley.DeSimone@icrinc.com

Canadian investors:
Marc Charbin
investors@flowhydration.com

Media:
Natasha Koifman
nk@nkpr.net