07:39 AM EDT, 08/25/2025 (MT Newswires) -- Flow Beverage Corp. ( FLWBF ) announced Monday that the company and certain of its subsidiaries have received demand letters of repayment dated August 22, 2025 and notices of intention to enforce a security under section 241 of the Bankruptcy and Insolvency Act (Canada) dated August 22, 2025 from NFS Leasing Canada Ltd. and RI Flow LLC with respect to alleged defaults under certain secured loans made to the company and the subsidiaries.

A statement noted NFS and RI Flow have indicated an intention to foreclose on the company and its subsidiaries' assets in satisfaction of the indebtedness owing pursuant to the loans.

Flow said a special committee of independent directors is "actively considering various alternatives to address the situation and pursue strategic alternatives in the best of interest of the company and its stakeholders."

The company also announced the departure of Nicholas Reichenbach, effective immediately, from his current executive positions with the company as Executive Chairman and Chief Executive Officer. He remains a member of the board. An Office of the Interim Chief Executive Officer, comprised of the Chair of the Special Committee, the Chief Financial Officer and the General Counsel and Corporate Secretary, will carry out the responsibilities of the Chief Executive Officer on an interim basis, it added.