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. (NASDAQ: FLGC), which has obtained shareholder approval to rebrand as ZeroStack, generates news that reflects its transition into a decentralized AI treasury company and its ongoing role as a global pharmaceutical distributor. Company announcements emphasize its strategy of accumulating $0G, the native cryptocurrency of the 0G AI infrastructure project, and its intention to position itself as a publicly listed 0G treasury.
Recent news releases highlight several themes. Flora has reported multiple private placement transactions involving common shares, pre-funded warrants, common share purchase warrants and convertible notes, with proceeds and tokens earmarked for its digital asset treasury strategy linked to $0G. The company has also announced specific purchases of $0G tokens, describing these as milestones in its mission to provide equity-based exposure to decentralized AI.
Corporate governance and capital markets developments are another recurring news topic. Flora has issued updates on its 2025 Annual and Special Meeting of Shareholders and a subsequent Special Meeting, where shareholders voted on director elections, amendments to the 2022 Incentive Compensation Plan, a share consolidation authority, a forward share split authority, the name change to ZeroStack, and approvals related to private placement issuances. The company has also reported on its 1-for-39 share consolidation and its successful effort to regain compliance with Nasdaq’s minimum bid price requirement.
Operational and strategic updates appear in news about Flora’s appointment of BitGo Trust Company, Inc. as custodian for its $0G treasury and its establishment of a crypto portfolio that includes Ethereum, Solana, Sui and Ripple. Other communications discuss its pharmaceutical distribution activities in Europe and its interest in German cannabis regulatory developments. Investors and observers can use this news feed to follow how Flora’s decentralized AI treasury strategy, financing activities, governance decisions and pharmaceutical distribution initiatives evolve over time.
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.
Flora Growth Corp. (NASDAQ: FLGC) announced initial orders for its Mind Naturals and Awe CBD skincare brands targeting Spanish and Mexican markets, set for export in December 2021. The company aims to leverage innovative formulations and sustainable packaging. Mind Naturals was recognized as a top 12 finalist in Glosswire’s Global Pitch Competition, indicating strong industry recognition. Flora expects to expand its global reach, capitalizing on the growing European cannabis market projected to reach €3.2 billion by 2025. Additionally, VP Legal & Strategy, Damian Lopez, resigned effective November 30, 2021.
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.