Flora Growth Corp Stock Price, News & Analysis

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.

Flora Growth Corp. (NASDAQ: FLGC) announced the launch of its JustCBD products in US airports through a partnership with OTG Management. The initial rollout includes sales at Houston's George Bush Intercontinental Airport and Ronald Reagan Washington National Airport in Washington, DC. This venture capitalizes on the growing CBD market, projected to reach $13.28 billion, with a compound annual growth rate of 30.7% from 2021 to 2028. CEO Luis Merchan highlights the significance of this distribution deal for expanding the JustCBD brand's reach.

Flora Growth Corp. (NASDAQ: FLGC) announced that its acquired subsidiary, JustBrands LLC (JBL), has been appointed as a Director to the US Hemp Roundtable. This non-profit organization advocates for the hemp industry, having previously contributed to significant legislation such as the 2018 Farm Bill. Flora's Chief Commercial Officer will visit Washington, D.C. to engage with government officials and discuss legislative challenges. This move illustrates Flora's commitment to enhancing market access for hemp and CBD products in the U.S.

Flora Growth (NASDAQ: FLGC) announces Colombia's finalization of regulations allowing cannabis exporters to send THC and CBD dried flower internationally, as per Resolution 539. This includes adjustments to Flora's 43.6-tonne export quota. The company can now export both THC and CBD flower to markets such as Germany and the U.S., where it already sells CBD products under brands like JustCBD. Flora maintains low production costs of just 6 cents per gram at its 254-acre facility, which can produce 600 kg of dried cannabis daily.

Flora Growth Corp. (NASDAQ: FLGC) announced that its CEO Luis Merchan will be the keynote speaker at the upcoming Plant Medicine Week conference in Valletta, Malta from April 5-8. His speech, titled “Malta - The Gateway to South American and European Cannabis Relations,” will highlight Malta's cannabis stance and the advantages of South American cultivation. Flora aims to foster relationships within the EU cannabis sector and discuss sustainable cultivation practices. The company's outdoor cannabis facility supports diverse sectors including cosmetics and food.

Flora Growth Corp. (NASDAQ: FLGC) announced its JustCBD brand's expansion into Europe with plans to open four physical stores in Germany and the Czech Republic by Q2 2022, managed in partnership with Greenyard. Additionally, JustCBD products will be distributed across several European countries, including Poland and Austria, as regulations allow. The move follows significant growth in the European CBD market, projected at a 35% CAGR. This expansion marks Flora's strategy to enhance its global footprint, leveraging JustCBD's established brand and comprehensive product range.

Flora Growth Corp. has announced significant changes to its Board of Directors, appointing CEO Luis Merchan as Chairman and adding Tim Leslie to the Board and audit committee. These changes reflect Flora’s strategic move towards becoming a U.S.-based issuer, enhancing access to U.S. investment. Merchan's leadership has already facilitated international expansion into over 12 countries, complemented by successful M&A activities with brands like JustCBD. Previous Chairman Bernie Wilson will continue as an advisor.

Flora Growth Corp. (NASDAQ: FLGC) has received a 2022 export quota from the Colombian government totaling 43,600 kg of high-THC cannabis, enabling the production and export of cannabis products. This quota supports Flora's existing and future agreements, including a significant supply to Artos Ltd. in Israel. Additionally, the company has approval to cultivate four new high-yield THC and CBD strains. Flora's cultivation facility, Cosechemos, continues to pursue organic certification while employing advanced technology for high-quality production.