- Cannabis grower and brand builder Flora Growth is a rapidly growing international supplier and supply chain developer aiming to distinguish itself in a highly competitive market
- Following on a 604 percent YOY revenue increase for the first half of the year, Flora continues pursuing strategic acquisitions such as its recent all-stock deal for multi-national operator Franchise Global Health
- Flora also anticipates expanding its production facilities, adding a fourth by the end of this year that will provide the company with its first pharmaceutical formula operation for the Colombian wellness market
- The Franchise Global Health agreement is expected to give Flora a strong presence in Germany and an introduction to Europe, adding to its export pipeline to Switzerland, the Czech Republic and the United States from Colombia
Legal cannabis has become the the sixth-largest cash crop in the United States after corn, soybeans, hay, wheat and cotton (https://cnw.fm/RChLp), and voters continue to address the potentials of an expanding market for recreational marijuana (https://cnw.fm/IO2FN).
Non-recreational medicinal cannabis has been legalized in 37 states and continues to fuel a multi-billion dollar industry (https://cnw.fm/I17Vl), which is only a portion of the global market that supplies the 80 percent of the world’s population using cannabis or hemp for medical treatments. For now, international annual growth rates are more robust than the projected growth rates in the United States, according to Kiplinger (https://cnw.fm/tXctZ).
Cannabis cultivator and global distributor Flora Growth (NASDAQ: FLGC) is a rapidly growing house of brands building customer bases and distribution channels across international lines as it aims to distinguish itself within a highly competitive arena.
Much of Flora Growth’s strength lies in its licensed cultivation, extraction, and isolation facility located in northern Colombia’s fertile climate, where an experienced labor force is helping the nation emerge from decades of drug war illicit trade into a recognized and regulated market.
From its 247 acres of growing fields, the company’s harvests move into a production pipeline that includes a flower and derivatives production lab situated with the cultivation camp, as well as a topical, capsules and dietary supplements lab in Colombia’s capital and a third lab in the United States, where CBD ingestible, tinctures and gummies are made.
A fourth state-of-the-art lab being built in Colombia’s capital is being designed to formulate custom and proprietary pharmaceuticals that will be sold and used in Colombia. The life sciences lab is expected to open by the end of this year with eight registered pharmaceutical grade formulas that target specific ailments such as insomnia, epilepsy, and anxiety (https://cnw.fm/bbuJj).
“At Flora, we believe that cannabis will dramatically improve the wellbeing of consumers around the globe and that it will become an international trade. Our company exists today to capitalize on that opportunity,” CEO Luis Merchan stated last month in an interview about its most recent acquisition to help fuel its global ambitions — an all-stock deal for multi-national operator Franchise Global Health (https://cnw.fm/Qs3Qn).
The Franchise Global Health (“FGH”) acquisition is expected to give Flora an in-road to Europe through Germany, where FGH helped pioneer the European cannabis market and where 75 to 80 percent of European sales take place.
FGH’s German businesses operate primarily in the export pharmaceutical and medical cannabis import and distribution markets, servicing 1,200 pharmacies in Germany, according to a company news release (https://cnw.fm/6z8lD).
Notably, while Flora’s operation provides THC and CBD flower and derivatives to international markets, the company only produces CBD products within the United States because its NASDAQ listing prevents it from participating in the THC (traditional tetrahydrocannabinol cannabis) market domestically.
For more information, visit the company’s website at www.FloraGrowth.com.
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC
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