Flora Growth Corp Stock Price, News & Analysis

Flora Growth Corp. (NASDAQ: FLGC) has appointed Dr. Annabelle Manalo-Morgan as the Lead Scientific Advisor to enhance research and development in cannabis-based therapies. Dr. Annabelle will head a science advisory team focused on the therapeutic application of cannabinoids, aiming to produce scientifically-backed cannabis products. The appointment is part of Flora's strategy to bolster its medical divisions and expedite growth initiatives. Flora plans to activate clinical trials following the establishment of necessary protocols, reinforcing its commitment to innovation and patient education.

Flora Growth Corp. (NASDAQ: FLGC) has agreed to acquire 100% of Koch & Gsell for CHF 20 million (approximately US$22.2M), to enhance its CPG portfolio with the Heimat brand, known for hemp products and trailing revenues of US$7.6M. The acquisition aims to boost distribution in Europe and Asia while leveraging proprietary manufacturing technology, producing over 40,000 packs of cigarettes daily. Following the deal, Flora plans to invest CHF 2 million (US$2.2M) to expand the Heimat brand. CEO Roger Koch will continue leading Koch & Gsell post-acquisition.

Flora Growth Corp. (NASDAQ: FLGC) announces the appointment of Jason Warnock as Chief Revenue Officer and Lee Leiderman as Chief Financial Officer. The changes aim to enhance the company's growth and commercialization phase. Warnock brings over 20 years of sales leadership, focusing on sustainable revenue growth. Leiderman has extensive financial management experience from firms like PricewaterhouseCoopers and Philip Morris. The new executives are expected to drive global growth and optimize recent acquisitions, positioning Flora to capture market opportunities in the cannabis sector.

Flora Growth Corp. (NASDAQ: FLGC) announced a strategic equity investment of €2 million in Hoshi International Inc., aimed at enhancing its presence in the European cannabis market. The investment will establish Flora as a key supplier to Hoshi's processing facilities in Malta and Portugal, facilitating distribution of Flora-branded products across the EU. Hoshi's leadership and distribution network are expected to accelerate revenue growth for Flora, which plans to leverage Hoshi's established positions in the EU cannabis market.

Flora Growth (NASDAQ: FLGC) hosted a live fireside discussion on May 27, 2021, featuring CEO Luis Merchan and VP of Corporate Development James Williams. The session centered on Flora's recent business advancements and its international cannabis strategy, including updates on cultivation at Cosechemos and international sales launches in Central America and the U.K. They emphasized restructuring divisions like Flora Lab to enhance profitability. A recording of the event will be made available for those unable to attend.

Flora Growth Corp. (NASDAQ: FLGC) has appointed Marc Mastronardi, former Chief Stores Officer at Macy’s, to its Board of Directors. This move aims to leverage Mastronardi's extensive experience in business development and customer experience to enhance Flora's growth and shareholder value. Flora Growth is also set to host a virtual discussion on May 27, 2021, providing updates on its business developments, including cultivation progress and international sales in Central America and the U.K. The company emphasizes its commitment to cost-effective, sustainable cannabis cultivation.

Flora Growth Corp. (NASDAQ: FLGC) celebrated its recent IPO launch by ringing the closing bell at the Nasdaq MarketSite on May 20, 2021. This marks a historic moment as Flora is the first cannabis cultivator to list on the NASDAQ without a SPAC or reverse merger and is also the first all-outdoor grower ever on this exchange. Flora operates the largest licensed cannabis cultivation facility in Colombia and aims to provide premium cannabis products at competitive prices. CEO Luis Merchan emphasized the IPO as a significant milestone for the company's growth and future prospects.

Flora Growth Corp. (NASDAQ: FLGC) has launched a new manufacturing division called Flora Lab. This division consolidates the recently acquired Quipropharma Lab with Flora's medical-focused divisions, Cronomed and Breeze Laboratory. The 16,000-square-foot Quipropharma facility boasts two GMP certifications and a diverse product portfolio exceeding 190 items. The new division aims to enhance revenue through expanded production capacity and distribution, supported by over 1,500 distribution channels.

Flora Growth Corp. (NASDAQ: FLGC) is progressing well with cannabis cultivation in Colombia, with its first commercial harvest projected for Q3 2021. Currently, the company is cultivating high-CBD strains and preparing for high-THC production due to start in June 2021. A recent Colombian legislative change will enhance wholesale operations and facilitate international exports. The company's cultivation facility boasts a production cost of just US$0.06/gram and yields of over 125 g/plant. Flora aims to leverage its low-cost production to lead in global cannabis derivatives.