FORT LAUDERDALE, Florida and TORONTO–(BUSINESS WIRE)–Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading cultivator, manufacturer and distributor of global cannabis products and brands, today announced that the Company has completed its first flower exports high-CBD dried cannabis strains grown in Colombia, Switzerland and the Czech Republic, as well as CBD isolates in the United States.
“As our global distribution network continues to evolve, adding these three industry-leading countries to our footprint is a major milestone for Flora,” said Luis Merchan, President and CEO of Flora Growth. “Our cultivation operation in Colombia, which provides high-quality, high-margin flowers and derivatives, has seen growing demand. These exports are a testament to our team’s ability to perform in a highly complex global regulatory environment and create new business revenue for our business.
This announcement also marks the launch of Flora’s commercial website, where approved buyers can learn more about Flora’s cultivation and cultivation practices, and can also place orders for high THC and CBD dry flowers as well. than by-products.
The global CBD market is estimated to reach US$47 billion by 2028, up from US$4.9 billion in 2021. Switzerland recently announced a pilot project to open sales of cannabis for adult use this summer to Basel, to test the viability of a fully legal recreational market. .
“We are proud to help increase access to safe and legal CBD and THC for consumers around the world,” added Merchan. “We look forward to working closely with our partners in Europe and North America to bring high-quality Colombian cannabis products and raw materials to market.”
About Flora Growth Corp.
Flora is building a connected, design-driven collective of plant-based wellness and lifestyle brands, designed to deliver the world’s most compelling customer experiences, one community at a time. As operator of one of the largest outdoor cannabis cultivation facilities, Flora relies on natural and cost-effective cultivation practices to supply cannabis derivatives to its commercial, brand house and science divisions. life. Visit www.floragrowth.com or follow @floragrowthcorp on social media for more information.
Caution Regarding Forward-Looking Statements
This press release contains “forward-looking statements,” as defined by federal securities laws. Forward-looking statements reflect Flora’s current expectations and projections regarding future events at that time, and therefore involve risks and uncertainties. The words “believe”, “expect”, “anticipate”, “will”, “could”, “should”, “should”, “may”, “plan”, “estimate”, “intend of”, “predict”, “potential”, “continue” and the negative form of these words and other similar expressions generally identify forward-looking statements. These forward-looking statements are subject to various risks and uncertainties, including those described in the section titled “Risk Factors” in Flora’s Annual Report on Form 20-F filed with the SEC on May 9, 2022, as such factors may be updated from time to time in Flora’s periodic filings with the SEC, which are available on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements included in this release and in Flora’s filings with the SEC. Although forward-looking statements reflect Flora’s good faith beliefs, they are not guarantees of future performance. Flora disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this release. release, except as required by applicable law. You should not place undue reliance on forward-looking statements, which are based solely on information currently available to Flora (or the third parties making the forward-looking statements).