Welcome to our dedicated page for Flora Growth news (Ticker: FLGC), a resource for investors and traders seeking the latest updates and insights on Flora Growth stock.
Flora Growth Corp. news covers the former FLGC issuer’s transition into ZeroStack Corp., including the completed corporate name and ticker change, shareholder voting matters, and capital-structure actions. Company updates also include $0G token treasury purchases and custody arrangements tied to the 0G decentralized AI network, along with references to its Phatebo GmbH pharmaceutical distribution subsidiary and common-share financing activity.
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.
Flora Growth Corp. (NASDAQ: FLGC) has signed a distribution agreement with DNO Group to bring the Mind Naturals brand to the Hong Kong market. DNO Group boasts over 50,000 sales points across Asia, enabling Flora to leverage an omnichannel strategy, including e-commerce and retail. Future expansion phases will target India and Israel. CEO Luis Merchan emphasized the brand's unique offering in a competitive skincare sector. This partnership follows previous agreements for product launches in Mexico and Spain, expanding Flora's international footprint.
Flora Growth Corp. (NASDAQ: FLGC) announces its commitment to M&A activity in 2022 following a record $5.9 trillion in global M&A transactions in 2021, which saw numerous 'megadeals'. The company is enhancing its operational fundamentals by hiring key personnel and finalizing acquisitions that will contribute significant revenue. With a diverse product portfolio serving over 500,000 customers, Flora Growth aims to leverage its outdoor cannabis cultivation for various wellness and lifestyle products.
Flora Growth Corp. (NASDAQ: FLGC) has successfully imported its first CBD-containing food and beverage products into the U.S. from Colombia, following the recent passage of Resolution 227 by Colombian President Ivan Duque. This law allows the export of non-psychoactive cannabinoid products. Initial products under the Mambe brand include juices, chocolates, and ghee. Flora aims to further integrate Colombian raw materials into its supply chain, leveraging its acquisition of JustCBD to expand its product offerings and customer base in international markets.
Flora Growth Corp. (NASDAQ: FLGC) has been featured in an editorial by NetworkNewsWire, highlighting the surge in mergers and acquisitions (M&A) activity in 2021, which reached $5.9 trillion globally, a 64% increase from 2020. The U.S. saw an 82% rise in deal flow as companies sought growth amidst ongoing challenges. Flora Growth's recent acquisition aims to expand its presence in the U.S. market, leveraging its significant outdoor cannabis cultivation facilities to support its diverse wellness brands.
Flora Growth Corp. (NASDAQ: FLGC) announces a distribution agreement between its Vessel brand and Speedy Distribution, marking its entry into traditional smoke shop channels. This strategic move follows Flora's acquisition of JustCBD, enhancing its product portfolio and distribution capabilities. The partnership is expected to leverage JustCBD’s established network of over 14,000 stores, increasing Flora’s customer base to over 500,000. The webinar hosted by key executives aims to discuss synergies and growth opportunities from the acquisition.
Flora Growth Corp. (NASDAQ: FLGC) has acquired Just Brands LLC and High Roller Private Label LLC for $16 million in cash and 9.5 million common shares. JustCBD, the primary brand under these entities, generated $28 million in revenue and $7 million in EBITDA in 2020. The acquisition aims to enhance Flora's U.S. distribution capabilities, create synergies with existing brands, and expand JustCBD into international markets. This move is expected to significantly increase Flora's customer base and financial performance starting in 2022.
Flora Growth Corp. (NASDAQ: FLGC) has appointed Jessie Casner as its new Chief Marketing Officer. Casner joins from the Vessel brand, where she served as VP of Sales and Marketing. Her marketing expertise aims to enhance the growth of Flora’s brand portfolio, including Vessel and Tonino Lamborghini. CEO Luis Merchan emphasized the importance of investing in leadership, aiming for stronger marketing strategies across Flora's expanding brand initiatives.
Flora Growth Corp. (NASDAQ: FLGC) has submitted twenty-three cannabinoid-infused food and beverage products for approval in Colombia, marking a significant milestone as they will be the first of their kind approved in the country. This follows the signing of Resolution 227 by President Ivan Duque, which establishes a framework for the industrial use of cannabis and its derivatives. Flora plans to launch CBD-infused juices and gummies under its Mambe brand in Q1, supporting U.S. market expansion.
Flora Growth Corp. (NASDAQ: FLGC) has signed a distribution agreement with Israel-based Artos Ltd. to supply approximately 3,600 kg of high-THC cannabis flower for the Israeli market. Artos, a consumer products distribution company, operates a network of over 4,000 distribution points and generated over $50 million in revenue from non-cannabis products. The agreement aims to expand Flora's offerings in Israel to include oils and, eventually, THC and CBD consumer products, pending Colombian government approvals.