Flora Growth Corp. (NASDAQ: FLGC) is building a design-led collective of plant-based wellness and lifestyle brands that delivers the
most compelling customer experiences in the world, one community at a time.
The company operates one of the largest outdoor cultivation facilities in the world with an aim of marketing a higher-quality premium product at below-market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, the company leverages natural, cost-effective cultivation practices to supply cannabis and cannabis derivatives to wholesale buyers
and its diverse business divisions.
Founded in Canada, Flora moved its headquarters to Miami in late 2021 as the company expanded its reach across the globe. Its base of cultivation operations are in Colombia, where it has built an extensive distribution network that includes Colombia’s largest distributors, while the recently acquired Vessel Brand team is based in Carlsbad, California.
Currently, Flora is organically growing market share across its three major pillars – wholesale cannabis, CPG cannabis brands, and pharmaceutical cannabis – while seeking revenue-generating acquisitions that offer human-capital expertise and an accretive distribution network to amplify revenue growth.
One of the core and most strategic aspects of Flora’s business model is Cosechemos, the company’s 247-acre cultivation facility in Colombia. Given Colombia’s ideal climate, Flora’s production cost is approximately $0.06/gram, compared to production costs of $1/gram or more in North America and other parts of the world.
Not only can Flora fully supply cannabis and its derivatives to its internal brands and divisions; it can do it at a cost that is hard to compete with and at the world’s highest quality standards.
Flora’s cultivation is certified GACP, which means the company’s flower can be used within medical markets globally. Flora also just completed a state-of-the-art EU-GMP compliant extraction facility at Cosechemos, throwing open the door to a significant revenue opportunity in the $16.47 billion global medical cannabis market. Sales are expected to start ramping up in
early 2022 out of this facility.
In addition, the Colombian government recently overhauled cannabis legislation, opening the cannabis market by allowing the export and domestic consumption of dried flower and cannabis ingestibles.
- Flora Growth operates one of the largest outdoor cannabis cultivation facilities in the world with an aim of marketing a higher-quality premium product at below-market prices.
- Flora moved its headquarters to Miami in late 2021.
- Flora is organically growing market share across its three major pillars – wholesale cannabis, CPG cannabis brands, and pharmaceutical cannabis.
- In November 2021, the company entered the rapidly growing U.S. CBD beverage market by signing a licensing agreement with luxury brand Tonino Lamborghini.
- Flora recently acquired Vessel Brand Inc., the dominant band in luxury cannabis consumer technology.
- The company closed out 2021 by announcing a 2022 revenue guidance projection of $35-45 million.
InvestorNewsBreaks - Flora Growth Corp. (NASDAQ: FLGC) Announces Launch of JustCBD Products on Amazon.co.uk
May 31, 2022 8:30 AM
- JustCBD’s best selling products will launch on Amazon.co.uk after JustCBD was awarded with UK Novel Foods authorization
- Amazon UK CBD program is only for vendors who have demonstrated compliance with all UK Novel Food regulations
- Flora and JustCBD aim to continue working with Amazon to expand into other countries and markets over time
Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, announced today that its wholly-owned subsidiary JustCBD will be launching its line of Novel Foods registered CBD products on Amazon.co.UK .
Amazon UK entered the now £700 million CBD market in October 2021 and has since expanded the initial pilot-only program to include vendors who have demonstrated their compliance with the UK CBD Novel Food regulations. Producers awarded with UK Novel Food authorization must prove the product is safe for consumption and labeled correctly.
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