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.
House of Brands
Flora has curated a collection of consumer brands that are developed for key market segments and align with the company’s values to deliver on a plant-first, plant-focused, sustainable promise. These brands create high gross margin opportunities, as well as ownership of customer relationships.
The quality of Flora’s brand building speaks for itself, with an impressive early track record.
In November 2021, the company entered the rapidly growing U.S. CBD beverage market by signing a licensing agreement with luxury brand Tonino Lamborghini. Through this agreement, Flora will produce Tonino Lamborghini-branded cannabis beverages that will be distributed throughout North America and Colombia, with a major focus on the U.S.
“Together with Flora we aim at creating new and innovative products and experiences for the modern consumer’s wellbeing,” Ferrucio Lamborghini, CEO and VP of the Italian company, said in a news release.
Flora also recently acquired Vessel Brand Inc., the dominant brand in luxury cannabis consumer technology. This acquisition solidifies Flora’s U.S. presence, while also bringing key players to the executive team.
These moves were just a few of the many that Flora Growth made in the last year.
- Flora’s Stardog brand opened its first brick and mortar store in Miami and signed a distribution deal with Macy’s, one of the world’s largest retailers.
- Flora’s Mind Naturals brand signed distribution agreements with Walmart.com and Coppel, and its CBD skincare products are being exported to Spain and Mexico.
- Flora’s cannabis infused food and beverages are expected to be distributed through Tropi, the largest food and beverage distributor in Colombia, once the recent law change comes into effect.
Flora’s pharma division, led by renowned neuroscientist Dr. Annabelle Morgan-Manalo, is dedicated to understanding the applicable modalities and formulations of cannabinoid-based products that provide the most efficacious and bioavailable experiences for markets around the world.
Currently, the company is working with leading scientists and research institutions such as Vanderbilt University and the University of Manchester to advance access to and research of cannabinoid-based medicine.
This research division has already submitted its first patent, having recently filed a USPTO provisional patent application on a cannabinoid-based formula. Flora looks to obtain approval for a cannabinoid-based product through clinical trials under an EUA from INVIMA (Colombian FDA).
- 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 brand in luxury cannabis consumer technology.
- The company closed out 2021 by announcing a 2022 revenue guidance projection of $35-45 million.
420 with CNW - Biden Praises Cannabis Pardons While Emphasizing That Relief is Only for Possession Charges
November 11, 2022 4:20 AM
Recently President Joseph Biden gave a speech on his administration’s actions to relieve student debt. At the end of his speech, the president talked about his clemency proclamation on marijuana, noting that he recognized the issue’s popularity, especially among young voters.
President Biden stated that he was keeping his promise that no individual should be jailed for possessing cannabis, emphasizing this pardon only applied for possession and adding that these records needed to be expunged. The clemency action, which only impacted resident/legal alien offenders and U.S. citizens who had committed federal marijuana possession offenses, has been criticized by advocates who argue that Biden should have expanded his proclamation to include individuals who sold
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