Flora Growth Corp. Signs Exclusive Distribution Agreement with Nordic Tower AB for Vessel Products in Sweden and the Nordic Region

Rhea-AI Summary

Flora Growth Corp. (NASDAQ: FLGC) has signed an exclusive distribution agreement with Nordic Tower AB for Vessel Brand products in Sweden and the Nordic region. Nordic Tower will become the exclusive distributor of Flora's Vessel Brand, known for high-quality vaping hardware, in Sweden, Norway, Denmark, Finland, and Iceland.

This partnership is part of Flora's European market expansion strategy, aiming to meet the growing demand for cannabis accessories. The collaboration will leverage Nordic Tower's market knowledge and online presence to ensure a strong entry for Vessel hardware in these countries.

The rollout of Vessel products is expected to begin in the fourth quarter of 2024, starting with Sweden and expanding to other Nordic countries. Nordic Tower will lead marketing and distribution efforts to gain visibility and traction for Vessel products in these markets.

Positive

• Exclusive distribution agreement for Vessel Brand products in Sweden and Nordic countries
• Expansion into European market to meet growing demand for cannabis accessories
• Leveraging Nordic Tower's market knowledge and established online presence
• Rollout of Vessel products expected to begin in Q4 2024

Negative

• None.

Fort Lauderdale, Florida--(Newsfile Corp. - September 26, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") is pleased to announce the signing of an exclusivity agreement with Nordic Tower AB ("Nordic Tower"), a distributor of and online marketer of smoke products across Sweden and the Nordic countries. This partnership will see Nordic Tower become the exclusive distributor of Flora's Vessel Brand, recognized for its high-quality and innovative vaping hardware, throughout Sweden, Norway, Denmark, Finland and Iceland.

This move is a component of Flora's ongoing expansion into the European market, positioning the Company to meet the rising demand for cannabis accessories in the region. The partnership with Nordic Tower will enable Flora to leverage the distributor's market knowledge and established online presence, ensuring a strong and effective entry for Vessel hardware in these countries.

Clifford Starke, Chief Executive Officer, expressed enthusiasm about the partnership, stating, "our collaboration with Nordic Tower is an important step in Flora's global strategy. The Nordic region represents a vibrant and expanding market for Vessel, and with Nordic Tower's proven expertise and market reach, we are confident that Vessel will become a leading brand in this part of the world. Our goal is to have Vessel accessible in every country where regulations permit."

Simon Davari, Chief Executive Officer of Nodic Tower, added, "We are looking forward to introducing Vessel's products to the Nordic market. Flora's dedication to quality aligns with our mission to provide consumers with the best products available. We believe that Vessel's cutting-edge design and premium performance will resonate with consumers across the region, and we intend to drive its success in Sweden and beyond."

The rollout of Vessel products is anticipated to begin in the fourth quarter of 2024, starting with Sweden and expanding into other Nordic countries shortly thereafter. Nordic Tower will spreadhead marketing and distribution efforts, ensuing that Vessel products gain visibility and traction in these markets.

About Smoke Tower AB

Smoke Tower AB operates Smoketower.com and is the largest online headshop in the Nordic region with over 20 years of experience in the industry. Smoke Tower started as a Swedish headshop in 1995. It has business relationships with innovative designers and hi-tech manufacturers all over the world. In 1997, it entered the world of online shopping with Smoketower.com. Since then, hundreds of thousands of smokers from more than 100 countries have purchased from the website.

About Flora Growth Corp.

Flora Growth Corp.'s mission is to become the leading NASDAQ small-cap international cannabis company. FLGC is a 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://justcbdstore.com/
https://www.vesselbrand.com/
https://justcbdstore.uk/
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:
media@floragrowth.com

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: the partnership with Nordic Tower, Nordic Tower's ability to distribute Vessel products in Sweden and the Nordic region or at all, Vessel introducing innovative and high-quality products to the market or at all, Flora expanding in the European market, Vessel entering the European market, Vessel becoming a leading brand in the Nordic region or elsewhere, Vessel products resonating with consumers across the region in Sweden and beyond, and the rollout of Vessel products in the fourth quarter of 2024 or 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/224539

FAQ

What is the exclusive distribution agreement Flora Growth Corp. (FLGC) signed for Vessel products?

Flora Growth Corp. signed an exclusive distribution agreement with Nordic Tower AB for Vessel Brand products in Sweden and the Nordic region, including Norway, Denmark, Finland, and Iceland.

When is the rollout of Vessel products expected to begin for Flora Growth Corp. (FLGC)?

The rollout of Vessel products is anticipated to begin in the fourth quarter of 2024, starting with Sweden and expanding into other Nordic countries shortly thereafter.

How does the agreement with Nordic Tower AB benefit Flora Growth Corp. (FLGC)?

The agreement allows Flora Growth Corp. to leverage Nordic Tower's market knowledge and established online presence, ensuring a strong and effective entry for Vessel hardware in the Nordic countries.

What is Flora Growth Corp.'s (FLGC) strategy behind this distribution agreement?

This agreement is part of Flora's ongoing expansion into the European market, positioning the company to meet the rising demand for cannabis accessories in the region.