Flora Growth Corp Stock Price, News & Analysis

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.

Flora Growth Corp. (NASDAQ: FLGC) announced the launch of its cannabis wellness brand, Munzhi, with 12 products certified by INVIMA, available from November 1st. Munzhi will target the $2.3B wellness market in Colombia, distributed through ~800 points across five distributors. The product line includes CBD-infused cosmetics and personal care items. Flora Lab, the company's R&D division, aims to expand its distribution channels and product offerings, leveraging its 16,000 sq. ft. facility and three GMP certifications.

Flora Growth Corp. (NASDAQ: FLGC) has announced the initiation of global clinical trials focusing on cannabinoids for treating fibromyalgia and chronic pain. The trials will be conducted primarily in the US and UK, involving a partnership with the University of Manchester. Flora aims to expedite FDA and NHS processes by running phase trials concurrently. The research is part of their vision to develop pharmaceutical cannabis products, addressing unmet medical needs and enhancing shareholder value through a proprietary drug development platform.

Flora Growth Corp. (NASDAQ: FLGC) recently highlighted significant advancements in the Latin American cannabis market, particularly Colombia's authorization for dried cannabis flower exports for medical use, a game-changing move enacted through Decree 811 on July 23, 2021.

This positions Colombia as a potential market leader in cannabis exports. Furthermore, Flora Growth, which went public in May, operates one of the largest outdoor organic cannabis cultivation facilities in Colombia, benefiting from lower production costs, thus aiming to deliver high-quality products at competitive prices.

Flora Growth Corp. (NASDAQ: FLGC) announced its feature in an editorial by NetworkNewsWire, discussing the advancements in global cannabis markets with a focus on Latin America. While the U.S. has seen slow progress toward cannabis legalization, countries like Colombia, Mexico, and Panama are taking significant steps to develop a legal cannabis industry. Flora Growth is positioned as a leader in Colombia's cannabis market, emphasizing natural cultivation and sustainable practices across its product range in cosmetics, textiles, and food and beverage.

Flora Growth Corp (NASDAQ: FLGC) announced a live fireside discussion featuring CEO Luis Merchan, CRO Jason Warnock, and VP James Williams, set for September 21 at 1:00 pm ET. The discussion will focus on recent Colombian legislative changes, the company's export quota, and plans for international markets. Key updates include the proposed acquisition of Vessel Brand, the investment in Hoshi International, and operational updates from Cosechemos and Flora Lab. The session aims to outline Flora's international expansion strategy and product commercialization efforts.

Flora Growth Corp. (NASDAQ: FLGC) reported its financial results for the six months ending June 30, 2021. Revenue reached $2.1M, while operating expenses totaled $7.2M, resulting in a net loss of $5.3M. The company's cash balance stands at $18.8M. Despite the losses, Flora maintains a strong position due to its outdoor cultivation strategy and a focus on sustainability in cannabis-derived products across various sectors including cosmetics and food.

Flora Growth Corp. (NASDAQ: FLGC) has signed a Letter of Intent with Robust Farms Inc., a Panamanian distributor, to supply cannabinoid products through its Kasa Wholefoods division. This follows the recent passage of Bill 153 in Panama, legalizing medical cannabis, which will allow pharmacies to distribute licensed medical cannabis and derivatives. The new law also restricts licenses for production to seven manufacturers. The partnership marks a significant step towards expanding Flora's presence in Central America and providing patients with access to medical-grade cannabis products.