CannabisNewsWire
CannabisNewsWire

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for cannabis related companies

LimeLight of The week is
 

Flora Growth Corp.
(NASDAQ: FLGC)

View The Complete Profile

Flora Growth Corp. (NASDAQ: FLGC) is an internationally focused cannabis brand builder that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions, including cosmetics, hemp textiles, and food and beverage. Flora Growth 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 creates premium products that help consumers restore and thrive.

Flora Growth completed the first traditional cannabis IPO on Nasdaq in May 2021. Although currently headquartered in Toronto, Ontario, with plans to relocate its head office to Miami, Florida, the company’s base of operations is in Colombia, where it has built an extensive distribution network that includes Colombia’s largest distributors.

Currently, Flora Growth is organically growing market share for its existing brand portfolio (pharmaceuticals, textiles, cosmetics, and food & beverage) while seeking revenue-generating acquisitions that offer an accretive distribution network to amplify revenue growth.

Existing Brand & Product Portfolio

Flora Growth’s portfolio spans a number of verticals – each with a thoughtful brand designed to resonate with its intended end consumer. In line with the company’s mission, each brand prioritizes natural ingredients and value-chain sustainability.

Investment Considerations

  • Flora Growth is uniquely positioned to achieve revenue growth, with a balance sheet supported by two successful financings and the recent launch of multiple operating divisions.
  • The company boasts a robust M&A pipeline featuring strategic targets with near-term revenue growth opportunities and global distribution channels.
  • Flora Growth is led by an exceptional management team featuring cannabis, CPG, and capital markets experts who have raised more than $3 billion in combined public financings.
  • The company’s brand portfolio features 280+ products, 70+ medical and cosmetic licenses, and 2,500+ points of distribution across Latin America and the U.S.
  • Flora Growth has a healthy balance sheet with minimal debt; the company reported a cash balance of $25.3 million with long-term debt of just $0.7 million as of April 19, 2021.
  • The company’s all-natural, outdoor cultivation operations allow for production costs below $0.06 per gram – roughly 60% lower than its closest peer.
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Recent Coverage

InvestorNewsBreaks - Flora Growth Corp. (NASDAQ: FLGC) Secures $34.5M in Underwritten Public Offering

November 24, 2021 8:30 AM

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has announced the closing of its underwritten public offering of 11,500,000 units, with each unit consisting of one common share of the company and one-half warrant; each whole unit warrant entitling the holder to purchase one common share. The units sold includes an additional 1,500,000 pursuant to the exercise in full of the overallotment option granted to the underwriters. Flora secured $34,500,000 in gross proceeds, with each of the units sold at a public offering price of $3.00. The unit warrants will be immediately exercisable at an exercise price of $3.75 per share and will expire five years from the date of issuance. A.G.P./Alliance Global Partners acted as the sole book-running manager for the public offering and BMO Capital Markets and Roth Capital Partners acted as co-managers. MKM Partners served as a financial advisor to the company.

To view the full article, visit https://ibn.fm/x0KxF

 

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Featured Event

NECANN’s Chicago Convention
Chicago; 12/4/21 - 12/5/21


Venue: Chicago Hilton, 720 South Michigan Ave, Chicago, IL

Cannabis cultivators, dealers, businesses, and enthusiasts are invited to attend the NECANN Illinois Cannabis Convention in Chicago, on December 4-5, 2021. Operating since 2014, NECANN events are touted as one of the largest cannabis events that are constantly expanding.

Anden, Columbia Care, Green Mountain Energy, and a host of other eminent startups will be present at this rapidly expanding convention. Since legalization, Illinois is earning an average monthly revenue of $40 million from recreational cannabis sales.

Do not miss out on this phenomenal opportunity to connect with some of the biggest names in the marijuana industry in this region!

For more information, visit https://ibn.fm/2h0NN.

Exhibit Hall Hours

  • Saturday, December 4th: 11:00 A.M. to 5:00 P.M.
  • Sunday, December 5th: 10:00 A.M. to 4:00 P.M.

Onsite Box Office hours begin at 9:00 a.m. each day.

Conference Highlights

  • The NECANN Illinois Cannabis Convention is being held in Chicago, on December 4-5, 2021.
  • These events attract a huge number of enthusiasts and influencers from the Hemp, MMJ and Cannabis industries.
  • NECANN Illinois aims to bring the stalwarts of the cannabis industry under one roof at the Chicago convention.
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