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Flora Growth Corp. (NASDAQ: FLGC) Reaches Agreement with Israeli Product Distributor Artos Ltd. for Cannabis Sales

  • Flora Growth is a cannabis cultivator and distributor with a large cultivation site in central Colombia’s favorable growing climate
  • Flora Growth recently announced an agreement with Israeli product distribution company Artos Ltd. to sell Flora’s high-THC cannabis flower to Israelis
  • Colombia legalized the international export of cannabis flower last year for use in health and wellness industries
  • Israelis comprise a large base of medical marijuana users and cannabis-based business enterprises 
  • Colombia and Israel began strengthening ties last year for promoting entrepreneurial innovation, and the agreement between Flora Growth and Artos builds on those state efforts

Cannabis cultivator and brand builder Flora Growth (NASDAQ: FLGC) is continuing its push toward global market distribution efforts with the announcement that the company will sell about 3,600 kg of dried high-THC cannabis flower to Israel through an agreement with Israel-based consumer products distributor Artos Ltd.

Flora Growth owns and operates a 100-hectare (about 247-acre) cannabis cultivation site in central Colombia, a country renowned for its ideal growing conditions. The company leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage on a global basis. 

“As Cosechemos continues to reach full-scale commercial production, our team remains focused on increasing our presence in international cannabis markets through distribution agreements that will serve as a gateway into the markets,” Flora Growth CEO Luis Merchan stated as part of the company’s announcement (https://cnw.fm/mO8N8).

Artos was established 15 years ago with the select purpose of increasing Israeli citizens’ access to global consumer products. The company has a network of over 4,000 distribution points across the country and reports over $50 million in revenue from sales of non-cannabis products.

“With Artos’ extensive distribution network, this agreement will ensure that safe, high-quality cannabis products are provided to the Israeli cannabis market and offer a valuable source of health and wellness products to the country,” Merchan stated. 

Cosechemos boasts legal operation in a country with one of the world’s largest cut-flower industries, operating in several regions 365 days a year with over 12.5 hours of natural sunlight and a labor force with substantial agricultural experience. Cosechemos has natural water springs onsite and its international distribution strategy is to establish Flora Growth as a leader in plant-based wellness and lifestyle brands in a variety of countries in the Americas and Europe. 

The Artos agreement builds on Colombia’s state efforts to build ties with Israel for entrepreneurial innovation following the country’s legalization of dried cannabis flower exports last July. Colombian President Ivan Duque stated at the time that while illegal cocaine production has been a devastating trade for his country in terms of criminality and environmental destruction, cannabis is seen as a much more beneficial product when its derivatives are used for everything from medical treatments and food production to cosmetics. The country is not green-lighting exports for recreational purposes, he told NBC News (https://cnw.fm/63zaj).

The same report noted that more than 100,000 Israelis are licensed medical marijuana users, and that the country has more than 110 cannabis tech companies, mostly in the health sector, that have attracted nearly $350 million in investment since 2015. It also noted that Israel is among the largest importers of medical cannabis flower in the world. 

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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