Flow Beverage Corp. Receives Conditional Listing Approval From TSX and Closes Business Combination With RG One

• Flow Beverage Corp. receives conditional listing approval from the Toronto Stock Exchange to begin trading under the symbol “FLOW”
• $68.9 million in gross proceeds from private placements of subscription receipts have been released from escrow
• Amalgamation between Flow Water Inc., RG One Corp. and RG One Subco Inc. completed
• Company to host investor and analyst roadshow between July 8 to July 13, 2021

All dollar amounts are in Canadian dollars.

Flow Beverage Corp. (the “Company” or “Flow Beverage”), formerly RG One Corp., is pleased to announce that it has received conditional approval to list its subordinate voting shares on the Toronto Stock Exchange (the "TSX") under the trading symbol "FLOW". Final approval of the listing is subject to the Company meeting certain customary conditions of the TSX. Upon final approval, the Company intends to issue a news release confirming the date upon which its common shares will commence trading on the TSX, which is anticipated to be July 14, 2021.

In accordance with the polices of the TSX, the Company has filed an Annual Information Form for the year ended June 30, 2020 under its profile on SEDAR at www.sedar.com.

Corporate Update

Further to the Company’s announced closing of 36.3 million subscription receipt units (consisting of one full share and one-half warrant) (“Subscription Receipts”) for gross proceeds of approximately $60 million, the Company is pleased to announce the closing on May 14, 2021 of an additional 5.4 million Subscription Receipts for gross proceeds of $8.9 million, for aggregate gross proceeds of $68.9 million. The gross proceeds of $68.9 million have now been released from escrow.

The Company is also pleased to announce that it has completed the three-cornered amalgamation with Flow Water Inc., RG One Corp. and RG One Subco Inc. pursuant to the Business Combination Agreement announced on April 30, 2021. Pursuant to the Business Combination Agreement, the combined entity has changed its name to “Flow Beverage Corp.” and holders of Class A and Class B common shares of Flow Water Inc. have received multiple voting shares and subordinate voting shares, respectively, of Flow Beverage.

Investor Roadshow

Nicholas Reichenbach, Executive Chairman, Maurizio Patarnello, Chief Executive Officer, and Devan Pennell, Chief Financial Officer, will be hosting investor meetings between July 8, 2021 and July 13, 2021. Investors and analysts interested in a meeting with management may contact the Company at investors@flowhydration.com.

About Flow Beverage

Flow Beverage is the parent company of Flow Water Inc. ("Flow"), 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 2015 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." Reichenbach founded Flow believing that its spring water products should be packaged in up to 75% renewable-resource-based Tetra Pak™ cartons with sustainable operations, rather than the typically more unsustainable packaging and practices used across the beverage industry.

Flow beverage products are available online at flowhydration.com, and are sold at over 20,000 retailers across the United States and Canada, including Target, Walmart, Costco, Whole Foods Market, Loblaws, Sobeys, Metro, Shoppers Drug Mart, CVS Pharmacy, Farm Boy, Sprouts Farmers Market, Safeway, Wegmans, Harris Teeter, Sam's Club, Giant Eagle, Bristol Farms, Raley's, Vitamin Shoppe, 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).

Cautionary Statement

Investors are cautioned that, except as disclosed in the Annual Information Form prepared in connection with the proposed transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.

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