TORONTO, Oct. 08, 2019 (GLOBE NEWSWIRE) -- Flow Capital Corp. (TSXV: FW) (the “Company”) announced today the preliminary results of its substantial issuer bid (the "Offer") to repurchase for cancellation of up to $4 million of its common shares (the "Shares") by way of a modified Dutch auction from holders of such Shares ("Shareholders"). The modified Dutch auction allowed Shareholders who chose to participate in the Offer to individually select the price, within a range of not less than $0.15 per Common Share and not more than $0.20 per Common Share (in increments of $0.01 per Common Share). The Offer expired at 5:00 p.m. (Eastern Time) on October 7, 2019.

Based on the preliminary count by Computershare Trust Company of Canada, a total of 5,708,090 Shares were properly tendered and not properly withdrawn, at the purchase price of $0.20 or lower. In accordance with the terms of the Offer, the Company expects to take up and purchase for cancellation all of the 5,708,090 Shares, at $0.20, for an aggregate purchase price of $1,141,618. The Shares expected to be purchased under the Offer represent approximately 6.84% of the issued and outstanding Shares at the time that the Offer was commenced.  Following the expected cancellation, the Company will have 77,694,674 Shares outstanding.

The full details of the Offer are described in the Company's offer to purchase and issuer bid circular dated August 29, 2019, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which are available on SEDAR under the Company's profile at www.sedar.com.

This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any Common Shares.

About Flow Capital

Flow Capital Corp. is a diversified alternative asset investor and advisor, specializing in providing minimally dilutive capital to emerging growth businesses. To apply for financing, visit www.flowcap.com.

For further information, please contact:

Flow Capital Corp.

Alex Baluta
Chief Executive Officer
alex@flowcap.com

1 Adelaide Street East, Suite 3002,
PO Box 171,
Toronto, Ontario M5C 2V9 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.