Flora Growth Corp Stock Price, News & Analysis

Flora Growth Corp. (NASDAQ: FLGC) has appointed Holly Bell as Vice President of Regulatory Affairs, which is expected to enhance the company’s domestic and global expansion strategy. Bell, previously the Florida Department of Agriculture's first Director of Cannabis, will oversee Flora's regulatory strategy, managing submissions and interactions with global authorities. Her expertise will be instrumental in improving access to cannabis products and cultivating government relations, aiming to break down barriers in the cannabis trade. CEO Luis Merchan emphasized the importance of Bell's regulatory knowledge for strategic decision-making.

Flora Growth Corp. (NASDAQ: FLGC) has announced its expansion into the European and UK markets with a new office in London. This initiative aims to enhance the distribution of its JustCBD product line, which includes 79 products registered with UK Novel Foods. The company will also open a new location in Prague and partner with Hoshi to distribute its products across 11 countries, including Germany and Italy. CEO Luis Merchan emphasized that this expansion will help increase market share and provide valuable insights for future innovations.

Flora Growth Corp. (NASDAQ: FLGC) announced significant progress with its Vessel brand, securing a listing with the Ontario Cannabis Store (OCS) in Canada. This partnership enables Vessel to launch two new products in the luxury battery and dry herb categories. Additionally, Vessel has launched a direct-to-consumer online store, enhancing customer access and promoting brand loyalty. The Canadian cannabis market is projected to reach CAD 5.9 billion this year, with ancillary products yielding CAD 350-$475 million. This marks Flora's first commercial entry into the Canadian market.

Flora Growth Corp. (NASDAQ: FLGC) reported a remarkable revenue growth for FY 2021, achieving approximately $9.0 million compared to $0.1 million in FY 2020, marking a significant milestone as the company's first full year of revenues. A staggering 329% revenue growth was noted in the second half of 2021 compared to the first half. For Q1 2022, revenues soared by 450% year-over-year. The company anticipates revenues between $35 million and $45 million for 2022, representing an expected growth of 288% to 400% compared to FY 2021.

Flora Growth Corp. (NASDAQ: FLGC) will host a webcast on May 10, 2022, at 9 a.m. ET to discuss financial results for the fiscal year ended December 31, 2021. Management will comment on the company's financial performance and operational highlights from 2021 and provide insights into 2022. Following the presentation, a Q&A session will be held for analysts and investors. The webcast will be archived on Flora's website for later access.

Flora Growth Corp. (NASDAQ: FLGC) has launched a new skincare line named MIND Naturals, inspired by Colombian biodiversity. This non-CBD skincare line features eco-friendly products including moisturizers, cleansers, and serums, crafted from natural ingredients. A standout product is the Cacay Oil + Avocado Butter moisturizer, which was recognized at the 2022 Cosmoprof Bologna show. The company anticipates significant growth in the US skincare market, valued at approximately $17.6 billion. MIND will participate in the Luxury Meets Cannabis Conference in New York City on May 5-6.

Flora Growth Corp. (NASDAQ: FLGC) announced that CEO Luis Merchan and CSO James Choe will participate in the Luxury Meets Cannabis Conference on May 5-6 in New York City. Merchan will open the event with insights on the global opportunity of cannabis, while Choe will join a panel discussing consumer insights. The conference aims to connect cannabis brands with retailers and investors. Flora will showcase its brands, including JustCBD and Vessel, and plans to meet potential partners to discuss new product launches as part of its strategy to build a global house of brands.

Flora Growth (NASDAQ: FLGC) has initiated the integration of cannabinoids produced from its 254-acre outdoor cultivation facility in Colombia into its product lineup. This marks Flora's first instance of cultivating, extracting, and utilizing its own low-cost cannabinoid derivatives, which are set to enhance product quality while reducing costs. The extracted cannabinoids will be processed at Flora's GMP-certified facility in Bogota. This move aims to improve supply chain efficiencies and strengthen Flora's competitive edge in the cannabis market.

Flora Growth Corp. (NASDAQ: FLGC) will participate in the Benzinga Cannabis Capital Conference on April 20-21, 2022, at the Fontainebleau Miami Beach hotel. CEO Luis Merchan is scheduled to speak on April 20 at 3:20 PM ET. The conference aims to connect over 1,000 industry leaders, offering networking and investment opportunities. This event will feature an expo floor, a VIP area, and enhanced one-on-one meeting systems, highlighting the growing cannabis sector's potential. Interested attendees can register here.