Flora Growth Corp Stock Price, News & Analysis

Flora Growth Corp. (NASDAQ: FLGC) has filed a provisional patent application for a cannabinoid-based formula aimed at preventing SARS-CoV-2 infection. The company is seeking INVIMA (Colombian FDA) approval to advance this product through clinical trials. If successful, this formulation would mark the first cannabinoid product approved in Colombia for COVID-19 use. Flora Pharma, the research division, will conduct the study in a GMP-certified lab in Colombia, exploring potential therapeutic applications of cannabinoids against the virus.

Flora Growth Corp. (NASDAQ: FLGC) has appointed Joël Reyes as Senior Vice President of Global Operations. With extensive experience in operations management, Reyes aims to enhance operational excellence starting with Flora's Colombian activities. The company is leveraging new laws allowing the export of dried cannabis flower and has received an export quota of 7,900 kilograms. This strategic move is expected to ramp up production and meet growing demand. Flora's recent acquisitions also support its global expansion strategy.

Flora Growth Corp. (NASDAQ: FLGC) appointed Derek Pedro, a renowned cannabis genetics and cultivation expert, as an advisor to its Cosechemos cultivation facility. With over 30 years of experience and a track record of developing successful cannabis strains, Pedro will enhance Flora's high-THC and high-CBD offerings for domestic and international markets. This appointment coincides with Flora's expansion efforts and the recent completion of its EU-GMP compliant extraction lab, aiming to optimize operations in Colombia's favorable cultivation environment.

Flora Growth Corp. announced the completion of its 10,500 ft² extraction facility via its subsidiary Cosechemos, enhancing its annual distillate capacity to 15,000 L. The first batch of High-THC crude oil has been extracted and submitted for the 2022 quota. Cosechemos is also beginning the EU-GMP certification process, allowing potential export of medical-grade cannabis derivatives. The facility aims to improve product offerings while leveraging low-cost outdoor cultivation, targeting growth in the expanding global cannabis derivatives market.

Flora Growth Corp. has appointed Tim Leslie as the Chairman of its new Advisory Board, enhancing its leadership in the cannabis industry. Leslie brings vast experience from his tenure at Amazon and as CEO of Leafly. His role will involve providing strategic counsel to facilitate Flora's international growth, particularly in relation to current clinical trials aimed at developing plant-based medications. The establishment of the Advisory Board aligns with Flora's commitment to assemble a robust leadership team to drive its corporate strategy and market expansion.

Flora Growth Corp. (NASDAQ: FLGC) announces the launch of its Mind Naturals skincare brand on Walmart.com and Coppel in Mexico. The initial offering includes 12 products, expanding their international presence following recent exports to Mexico and Spain. With the global cannabis market projected to exceed $102 billion by 2026, Mexico is expected to see significant CBD product commercialization. CEO Luis Merchan emphasized the company's intent to strengthen its foothold in the plant-based wellness sector, leveraging its sustainable CBD offerings.

Flora Growth Corp. (NASDAQ: FLGC) will hold a webinar on December 14 at 4:30 p.m. ET, featuring CEO Luis Merchan. The session will cover the company's 2021 operational performance and provide 2022 revenue guidance of US$35-45 Million. Participants can register and submit questions in advance. Flora is recognized for its outdoor cannabis cultivation and manufacturing practices, supplying products across various sectors, including cosmetics and food.

Flora Growth Corp. (NASDAQ: FLGC) announced its subsidiary, Vessel Brand, is launching a new line of dry herb consumption products, enhancing its cannabis product offerings. The highlight is the Helix, a patent-pending one-hitter designed for smoother inhalation. Vessel's Eclipse Kit offers an all-in-one experience with customizable options. Upcoming products include a designer ashtray and a precision-engineered grinder. CEO James Choe emphasized the commitment to innovation in the cannabis market. A webinar is scheduled for December 14 to discuss 2021 performance and 2022 financial guidance.

Flora Growth Corp. (NASDAQ: FLGC) has announced a revenue guidance of $35-45 Million for 2022, including contributions from its operating divisions, notably the recently acquired Vessel Brand and wholesale cannabis revenues from Cosechemos.

A webinar is scheduled for December 14 at 4:30 p.m. ET to discuss operational performance and financial guidance. Flora aims to build a collective of plant-based wellness brands while leveraging its extensive outdoor cannabis cultivation.