Terrace Global Announces Closing of Plan of Arrangement with the Flowr Corporation

Toronto, Ontario–(Newsfile Corp. – December 24, 2020) – Terrace Global Inc. (TSXV: TRCE) (“Terrace Global” or the “Company“) is pleased to announce closing of the Company’s previously announced plan of arrangement under the Business Corporations Act (Ontario) with The Flowr Corporation (TSXV: FLWR) (“Flowr“), pursuant to which Flowr acquired all of the issued and outstanding common shares (“Terrace Shares“) of Terrace Global (the “Arrangement“).

The Terrace Shares were halted for trading on December 21, 2020 at noon and will remain so until the Terrace Shares are delisted from the TSX Venture Exchange. Terrace Global also intends to submit an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations.

About Terrace Global

Terrace Global is a multi-country operator (MCO) led by experienced cannabis entrepreneurs focused on the development and acquisition of international cannabis assets. Terrace Global’s focus is on federally legal jurisdictions with existing domestic demand, low-cost inputs and approved for exportation.

Forward-looking Statements

This press release contains forward-looking information within the meaning of applicable securities laws that reflects the current expectations of management of Terrace Global with respect to delisting the Terrace Shares and ceasing to be a reporting issuer. The words “may”, “would”, “could”, “should”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “aim”, “endeavour”, “project”, “continue”, “predict”, “potential”, or the negative of these terms or other similar expressions have been used to identify these forward-looking statements.

Forward-looking statements are based upon a number of assumptions and are subject to a number of known and unknown risks and uncertainties, many of which are beyond management’s control, and that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking statements. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those expected or estimated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Additional risks and uncertainties regarding Terrace Global are described in its publicly available disclosure documents, as filed by Terrace Global on SEDAR (www.sedar.com) except as updated herein. This forward-looking information represents management’s views as of the date of this press release. While subsequent events and developments may cause such views to change, Terrace Global does not intend to update this forward-looking information, except as required by applicable securities laws.

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

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For further information regarding Terrace Global, please contact:

Terrace Global Inc.
Francisco Ortiz von Bismarck, CEO and Director
E-mail: info@terraceglobal.ca
Website: www.terraceglobal.ca

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

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