Feb 16 (Reuters) - Needle Capital Corp NEDLp.V :
* NEEDLE CAPITAL - ENTERED LOI WITH THE FLOWR CORP TO COMPLETE A TRANSACTION TO FORM RESULTING ISSUER TO CONTINUE BUSINESS OF FLOWR
* NEEDLE CAPITAL - IN CONNECTION WITH DEAL, ANTICIPATES 7.2 MILLION NEEDLE SHARES WILL BE CONSOLIDATED
* NEEDLE CAPITAL - CO'S SHARES COULD BE ISSUED TO HOLDERS OF FLOWR SHARES ON BASIS OF ONE POST-CONSOLIDATION NEEDLE SHARE FOR EVERY 1 FLOWR SHARE