Flora Growth Corp. Announces Exclusive Distribution Agreement with Canapuff for Vessel Brand in the Czech Republic
Rhea-AI Summary
Flora Growth Corp. (NASDAQ: FLGC) has announced an exclusive distribution agreement with Canapuff for its Vessel brand in the Czech Republic. This partnership expands Flora's European footprint, bringing Vessel's hardware to a progressive Central European market.
Canapuff will distribute the full range of Vessel products, including the Core and Compass series of vaporizers, the Helix water pipe, and the Rise accessory line. Flora aims to establish Vessel as the premier brand for cannabis accessories in the Czech Republic, meeting the growing demand for high-quality, stylish, and durable hardware.
Clifford Starke, CEO of Flora Growth, stated that this partnership strengthens Flora's market positioning in the European cannabis landscape. David Bukovjan, CEO of Canapuff, expressed excitement about setting a new standard for customer experience in the Czech Republic with Vessel's product lineup.
Positive
- Exclusive distribution agreement for Vessel brand in the Czech Republic
- Expansion of Flora's European footprint into a new market
- Full range of Vessel products to be distributed, including vaporizers and accessories
- Potential to establish Vessel as the premier cannabis accessory brand in the Czech Republic
- Partnership with an established local distributor (Canapuff) in the target market
Negative
- None.
News Market Reaction
On the day this news was published, FLGC gained 2.27%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Fort Lauderdale, Florida--(Newsfile Corp. - September 24, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") is pleased to announce an exclusive distribution deal with Canapuff for its Vessel brand in the Czech Republic. This partnership makes an expansion of Flora's European footprint, bring Vessel's hardware to one of Central Europe's most progressive markets.
Under the terms of the agreement, Canapuff will distribute the full range of Vessel products, including the Core and Compass series of vaporizers, alongside the Helix water pipe and the popular Rise accessory line. These products are known for their craftsmanship, innovative design, and functionality, offering consumers a more refined and enjoyable experience. With this deal, Flora aims to solidify Vessel as the premier brand for cannabis accessories in the Czech Republic, catering to the growing demand for high-quality, stylish and durable hardware.
Clifford Starke, Chairman and Chief Executive Officer, commented on the deal: "partnering with Canapuff is a strategic move as we continue to expand in Europe. The Czech Republic is a new market for us, and with Canapuff's established presence and dedication to cannabis products, we believe that Vessel will meet consumer demands seeking high-end hardware. This partnership not only brings our products to a new audience but also strengthens Flora's overall market positioning in the European cannabis landscape."
David Bukovjan, Chief Executive Officer of Canapuff, noted: "We are thrilled to be the exclusive distributor of Vessel in the Czech Republic. Our goal is to provide our customers with access to the best cannabis accessories available, and Vessel's products align perfectly with that mission. We believe this partnership will set a new standard for the customer experience in the Czech Republic, and we are excited to introduce Vessel's product lineup to our growing customer base."
Through this exclusive agreement, Flora Growth and Canapuff are poised to redefine the cannabis accessory market in the Czech Republic, offering customers design-focused products that enhance their overall experience.
About Canapuff
Canapuff is the leading provider of cannabinoid consumer products in the Czech Republic, known for its high-quality offerings. Canapuff offers a diverse range of CBD, hemp and other cannabinoid products, catering to a growing consumer base seeking recreational options. It has built a strong reputation for delivering top-pier products through its online platform, setting the standard within the Czech market. For more information, please visit www.canapuff.com.
About Vessel Brand
An important player in cannabis consumer technology, Vessel works tirelessly to bring forth innovation and new designs that set industry standards. Vessel's promise is to make every experience more expressive and personal, and to deliver the best performance in its line, not only for its loyal customers but for brand partners as well. For more information, please visit www.vesselbrand.com.
About Flora Growth Corp.
Flora Growth Corp.'s mission is to become the leading NASDAQ small-cap international cannabis company. FLGC is a cannabis-focused consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world. For more information on Flora, visit www.floragrowth.com.
https://www.phatebo.de/home-en
https://www.australianvaporizers.com.au/
Investor Relations:
Investor Relations ir@floragrowth.com
Clifford Starke Clifford.Starke@floragrowth.com
Media:
Cautionary Statement Concerning Forward-Looking Statements
This press release contains "forward-looking statements," as defined by U.S. federal securities laws. Forward-looking statements reflect Flora's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words "believe," "expect," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," and the negatives of these words and other similar expressions generally identify forward-looking statements. These forward-looking statements include, but are not limited to, statements about: bringing Vessel to the Czech Republic, the distribution of Vessel products in the Czech Republic or at all, Vessel becoming the premier brand for cannabis accessories in the Czech Republic, there being demand for Vessel products in the Czech Republic, Flora expanding its footprint in Europe or at all, Vessel meeting consumer demands seeking high-end hardware, Flora or a related company bringing its products to a new audience, Flora strengthening its overall market positioning in the European cannabis landscape, Canapuff providing its customers with access to the best cannabis accessories available or at all, Vessel setting a new standard for the customer experience in the Czech Republic, Canapuff being able to introduce Vessel to its customer base, Canapuff's customer base growing, and Vessel being available as the best consumer hardware or at all. Such forward-looking statements are subject to various and risks and uncertainties, including those described under section entitled "Risk Factors" in Flora's Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (the "SEC") on March 28, 2024, as such factors may be updated from time to time in Flora's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov/edgar. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Flora's filings with the SEC. While 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 press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based on information currently available to Flora (or to third parties making the forward-looking statements).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224319
FAQ
What is the new distribution agreement announced by Flora Growth Corp. (FLGC)?
Which products will be distributed under the agreement between Flora Growth (FLGC) and Canapuff?
How does this agreement impact Flora Growth's (FLGC) European presence?
What is Flora Growth's (FLGC) goal for the Vessel brand in the Czech Republic?
