Flora Growth Corp Stock Price, News & Analysis

Flora Growth Corp. (NASDAQ: FLGC) has signed a licensing agreement with Tonino Lamborghini to produce and distribute luxury cannabis beverages, focusing on North America and Colombia. The product line will feature CBD and CBG and utilize Applied DNA Sciences' molecular tagging technology for product verification. The market for CBD products is expected to grow to $20 billion by 2024, with beverages being a key segment. The first product launch is scheduled for Q1 2022, which aligns with Flora's strategy to expand its brand portfolio.

Flora Growth Corp. (NASDAQ: FLGC) has formed a joint venture called FloVaria with Avaria Health & Beauty. This partnership aims to enhance the distribution of Avaria's KaLaya brand in Latin America, leveraging Flora's extensive Colombian distribution channels. Flora Lab will manufacture cannabinoid-infused products, focusing on CBD-enhanced formulations. KaLaya has achieved over a million units sold, primarily in Canada, and aims to expand into U.S. markets. Flora's recent $31.5 million capital raise will fund growth initiatives, including entry into the U.S. CBD market and expansion into Germany's cannabis market.

Flora Growth Corp. (NASDAQ:FLGC) has successfully closed an underwritten public offering of 11,500,000 units, each comprising one common share and one-half warrant, raising approximately $34.5 million in gross proceeds. The offering price was $3.00 per unit, with an additional 1,500,000 units sold through the overallotment option. Each whole warrant allows the purchase of one common share at an exercise price of $3.75, expiring in five years. A.G.P. acted as the sole book-running manager for this offering.

Flora Growth Corp. (NASDAQ: FLGC) announced a public offering of 10,000,000 units at $3.00 each, with each unit including a common share and a half warrant. The warrants can be exercised at $3.75 per share and will expire in five years. The offering is expected to close on November 23, 2021, subject to customary conditions. A.G.P./Alliance Global Partners is the sole book-running manager, with BMO Capital Markets and Roth Capital Partners as co-managers. Flora granted underwriters a 45-day option for an additional 15% of units for over-allotments. This offering aims to enhance operational capabilities.

Flora Growth Corp (NASDAQ: FLGC) has successfully acquired Vessel Brand Inc. for US$30M, including $8.0M in cash and common shares. This acquisition positions Flora strategically in the North American cannabis market, leveraging Vessel's substantial year-over-year revenue growth of $6.6M and 90%. Key members from Vessel will enhance Flora's brand portfolio, focusing on marketing strategies for its products. The merger aims to create substantial synergies and expand Flora’s market presence in cannabis and wellness sectors.

Flora Growth Corp. (NASDAQ: FLGC) announced a definitive agreement to acquire Vessel Brand Inc. for US$30M, enhancing its premium brand portfolio. This acquisition aims to boost Flora's presence in the U.S. and Canadian cannabis markets by integrating Vessel's strong revenue growth and established go-to-market strategies. The leadership from Vessel will join Flora's management, promising to leverage their expertise for enhanced growth across Flora’s product offerings. The deal anticipates closing in mid-November, subject to customary conditions.

Flora Growth Corp. (NASDAQ: FLGC) has partnered with GlossWire to feature its skincare brands, MIND Naturals and Awe (Ô), on the GlossWire digital marketplace starting November 10, 2021. This collaboration is aimed at creating awareness and enhancing visibility for Flora's products ahead of the holiday season. GlossWire provides innovative technology that offers real-time data and insights for beauty brands. MIND Naturals recently gained recognition for its biodegradable packaging at the Cosmoprof North America event, highlighting the brand's innovative approach.

Flora Growth Corp. (NASDAQ: FLGC) announced a partnership with SHOWFIELDS to showcase its skincare brands, MIND Naturals and Awe (Ô), at the South Beach, Miami flagship location, beginning November 8, 2021. This collaboration aims to increase brand awareness among U.S. consumers ahead of the holiday season. The move follows the major recognition of MIND Naturals at Cosmoprof North America for its innovation in biodegradable packaging. Flora Growth leverages outdoor cultivation practices to supply cannabis derivatives across cosmetics, textiles, and food sectors.

Flora Growth Corp. (NASDAQ: FLGC) has received Good Agricultural and Collection Practices (GACP) certification, boosting its ability to export high-quality cannabis internationally. The company is harvesting non-psychoactive CBD cannabis, with yields exceeding expectations by 40-60%. Flora has also signed several Letters of Intent (LOIs) for dried flower sales in international markets including the EU and Australia, with fulfillment expected in Q4 2021. Their flagship facility, Cosechemos, has a production cost below $0.06 per gram, and an extraction facility is set to begin operations on November 15.