Flora Growth Corp Stock Price, News & Analysis

Flora Growth Corp. (NASDAQ: FLGC) has signed a non-binding Letter of Intent with Avaria Inc. to form a joint venture (JV) for the distribution of KaLaya products in Colombia, Mexico, and other LATAM countries. Flora will manage sales, while Avaria will supply finished products, with profits shared equally. Additionally, Flora Lab will produce CBD-infused versions for LATAM and potential export to the U.S. KaLaya has seen significant growth in Canada, being recognized as a leading brand. The JV is contingent upon successful due diligence and a definitive agreement.

Argus Research has commenced coverage on Flora Growth Corp. (NASDAQ: FLGC), highlighting its position as a rapidly expanding global cannabis cultivator. With a cost-effective cultivation operation in Colombia, Flora can produce cannabis at under $0.06 per gram, significantly lower than many competitors. The company anticipates a fair market value of $7.50 per share, supported by a robust growth strategy and well-capitalized position with $30 million in recent financing. Flora is poised to benefit from a projected global cannabis market growth to $56 billion by 2026.

Flora Growth Corp. (NASDAQ: FLGC) has announced that the President of Colombia has signed revisions to the country’s cannabis laws, enhancing access to cannabis products and positioning Colombia as a key supplier in the global market. Flora’s cultivation facility, Cosechemos, boasts a production cost of less than $0.06 per gram, significantly undercutting North American competitors. The legislative changes will enable Flora to increase revenue through expanded product offerings, including cannabinoid ingestibles, and enhance its distribution capabilities both domestically and internationally.

Flora Growth Corp. (NASDAQ: FLGC) has announced a three-month extension on the expiry dates of approximately 6.67 million common share purchase warrants. Originally set to expire 18 months post-issuance, the new expiry dates now range from October 25, 2021, to October 20, 2022. The exercise price remains unchanged at US$3.00 per share. This extension applies to all unexercised warrants issued during the Regulation A+ Tier 2 offering in December 2020. Flora aims to enhance its market positioning as a leading outdoor cultivator and manufacturer of cannabis-derived products.

Flora Growth Corp. (NASDAQ: FLGC) plans to relocate its headquarters to Miami, Florida by Q1 2022, following an extensive review process. The new office will be significantly larger than its current space in Toronto, designed to support growth and attract talent. Miami's Brickell financial district was chosen for its favorable business climate, logistics, and talent pool. Flora aims to create a collaborative workspace with advanced technology features. The company continues to operate an administrative office in Toronto.

Flora Growth Corp. (NASDAQ: FLGC) has launched its premium beauty brand, Ô (Awe), designed by beauty influencer Paulina Vega. This brand targets the prestige market and focuses on customized consumer experiences. Initial sales will occur via an e-commerce platform, with plans for retail availability by Q4 2021. The product line includes anti-aging creams and pH-balanced cleansers, utilizing naturally sourced CBD. Flora Beauty emphasizes social responsibility and ingredient transparency. The brand will promote its offerings at the Cosmoprof North America event from August 29-31, 2021.

Flora Growth Corp (NASDAQ: FLGC) is hosting a live fireside chat on July 15 at 1:00 pm ET, featuring CEO Luis Merchan, CRO Jason Warnock, and lead scientific advisor Dr. Annabelle Manalo-Morgan. The discussion will cover updates on Cosechemos and Flora Lab, highlighting their roles in international expansion and revenue growth. Additionally, it will touch upon the company's holistic consumer packaged goods strategy and advancements in cannabinoid research, focusing on the potential benefits for medical patients and legislative developments in the U.S.

Flora Growth Corp. (NASDAQ: FLGC) has appointed Brigitte Baptiste as a strategic advisor to enhance its research and development in sustainable cannabis practices. Alongside EAN University, Baptiste will focus on cannabis supply chain studies, examining areas such as carbon footprint and energy output. This initiative aims to foster sustainable entrepreneurship among students while advancing Flora's premium brand portfolio. CEO Luis Merchan highlighted the growing demand for sustainable products and the company’s plans to scale its operations across various sectors, leveraging cost-effective organic biomass.