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. news covers the former FLGC issuer’s transition into ZeroStack Corp., including the completed corporate name and ticker change, shareholder voting matters, and capital-structure actions. Company updates also include $0G token treasury purchases and custody arrangements tied to the 0G decentralized AI network, along with references to its Phatebo GmbH pharmaceutical distribution subsidiary and common-share financing activity.
Flora Growth Corp. (NASDAQ: FLGC) has announced its support for Germany's pioneering cannabis model city projects in Frankfurt and Hannover, set to launch in early 2025. These initiatives represent Germany's first controlled cannabis retail efforts, allowing both cities to gather data on consumption behaviors and public health impacts.
The projects will establish authorized sales locations for THC products, including cannabis flowers and hashish, available only to registered adult residents. Participants will undergo regular health assessments during the five-year study period. The initiative aims to combat illegal cannabis markets and inform future regulations across Europe.
Flora Growth Corp. (NASDAQ: FLGC) announces the launch of its parallel import (PI) business in Germany and the European Union. The company appointed Dr. Manfred Ziegler, former CC Pharma executive, as Managing Director to lead this initiative. The PI Business will initially target Germany's $4 billion market, with plans to expand across the EU. The business model involves sourcing pharmaceutical products from lower-price countries and importing them to markets where they can be sold competitively, while maintaining compliance with EU regulations. Flora aims to leverage its existing pharmaceutical distribution network and medical cannabis license in Germany to become a market leader in European pharmaceuticals.
Flora Growth Corp. (NASDAQ: FLGC) has announced a distribution partnership with Sunshine State Distributing for its hemp-infused beverages, Melo and Cola. Sunshine, a leading distributor in the Southeastern United States, will manage the distribution through its extensive network of liquor stores, supermarkets, specialty stores, and convenience outlets. The partnership targets the cannabis beverages market, which was valued at $2 billion in 2023 and is projected to reach $117 billion by 2032, growing at a CAGR of 57.50%. The collaboration aims to expand Flora's presence in the U.S. market, particularly in retail locations where THC-infused products are in demand.
Flora Growth Corp. (NASDAQ: FLGC) has announced a supply agreement with Curaleaf Holdings to import medical cannabis products into Germany, following the country's cannabis legalization on April 1, 2024. Flora will utilize its EU-GMP certified facility to distribute Curaleaf's products through its network of over 1,200 pharmacies. The German medical cannabis market is expected to reach $450 million in 2024 and grow to $4.6 billion by 2034. The European cannabis patient base, currently at 500,000, is projected to grow by 500% over the next five years, with Germany leading the market.
Flora Growth Corp. (NASDAQ: FLGC) acknowledges Vice President Kamala Harris's inclusion of cannabis reform among her top 14 national priorities for the 2024 election. The company highlights growing bi-partisan support for cannabis reform, noting Republican nominee Donald Trump's support for marijuana legalization in Florida and cannabis banking reform. This development signals potential regulatory transformation in the U.S. recreational cannabis market, valued at $33 billion, with implications for public health, social equity, criminal justice reform, and economic growth.
Flora Growth Corp. (NASDAQ: FLGC) has launched a new THC-infused Cola, expanding its beverage portfolio following the success of its first beverage, Melo. The product uses proprietary emulsion technology to infuse hemp while maintaining traditional cola taste. The company is targeting the U.S. Southeast market initially, with plans for national expansion through traditional retail channels, U.S. distributors, and liquor stores. Cloud Cola aims to capitalize on the growing demand for functional beverages and hemp-based products, building on Flora's success in the gummies market.
Flora Growth Corp. (NASDAQ: FLGC) has launched Melo, its first THC-infused beverage, entering the rapidly growing hemp beverage market. The product, developed through a joint venture with Peak, comes in four flavors and leverages Peak's emulsion technology. The U.S. hemp beverage market, valued at $220 million in 2023, is projected to exceed $1 billion by 2028, with a CAGR over 30%. Flora's distribution strategy includes traditional retail channels, liquor stores, and potential online sales across the United States. Recent data shows daily cannabis use (17.7 million users) now surpasses daily alcohol consumption (14.7 million users) in the U.S.
Flora Growth Corp reports progress on its Hoshi International investment in Portugal. Hoshi secured a new financial partner in 2023 who assumed capital expenditures for equity. Key developments include completion of a 1,200-square meter greenhouse with 1,500 kg/year capacity, obtaining GACP license, and receiving 70 cannabis clones. The facility employs 18 full-time staff with $20M invested to date. Flora's initial $2.4M investment secured 10% ownership in Hoshi, which controls 51% of the Portuguese operation. First commercial harvest is expected in 2025. Flora plans to explore EU-GMP license expansion from Germany through Hoshi collaboration for direct sales channel.
Flora Growth Corp. (NASDAQ: FLGC) has completed its specialized beverage facility, marking its entry into the $220 million beverage market. The facility incorporates Peak's proven technology, ensuring high-quality products and a competitive edge. With over 100 formulations, Flora aims to power major cannabis brands, replicating Peak's success in Canada, where it produces nearly 40% of cannabis beverages.
The THC-infused beverage market is rapidly growing, representing 2.1% of the Canadian adult-use cannabis market (CAD$134.4 million). In the U.S., beverages account for 1% to 3% of the cannabis market, with significant growth potential. Data Bridge Market Research projects the U.S. infused beverages market to reach half a billion by 2030, growing at a CAGR of 14.7%.
Flora's facility will produce beverages for its Melo brand and others, enabling strategic distribution agreements. The company's joint venture with Peak, formed in June 2024, combines Peak's production expertise with Flora's brand launching and marketing capabilities in the U.S.
Flora Growth Corp. (NASDAQ: FLGC) expresses optimism following Vice President Kamala Harris' campaign proposal to legalize recreational marijuana at the federal level. Harris aims to work with Congress to make cultivation, distribution, and possession of recreational cannabis legal across the United States. Currently, recreational marijuana is legal in 24 states and D.C., but remains illegal federally.
Former President Donald Trump has also voiced support for cannabis legalization, pledging to vote for a Florida measure legalizing recreational marijuana. Flora's CEO, Clifford Starke, sees this bi-partisan momentum towards federal cannabis legalization as historic. The company believes legalization would provide clarity for businesses and open doors for communities impacted by outdated cannabis laws.
Flora operates across several regulated markets globally, including the U.S., and is ready to support the development of a federal framework for safe, sustainable, and equitable industry growth.