420 with CNW — Report Says Marijuana Banking, Criminal Expungement Could Be Federally Approved This Year

A new report has revealed that legislators may pass federal cannabis banking reform this year as long as it is combined with existing cannabis expungement legislation. Due to federal prohibition, businesses in the cannabis sector have been unable to access banking and loan services, forcing them to operate on a cash-only basis and limiting their growth opportunity.

The lack of cashless payments has been a particularly touchy issue as it makes it difficult for marijuana businesses to track their finances and keep up with their taxes; it also makes them prime targets for burglaries and robberies.

Politico reported that Senate Majority Leader Chuck Schumer recently met with GOP Representative David Joyce and discussed the possibility of combining his Harnessing Opportunities Act by Pursuing Expungement (HOPE) Act with the SAFE Banking Act. While the SAFE Banking Act would finally grant state-legal cannabis businesses access to banking services, the HOPE Act will provide states with the funds needed to expunge prior-cannabis related offenses from people’s records.

Furthermore, U.S. Cannabis Council president and CEO Steve Hawkins stated earlier this year that the HOPE Act may also contain criminal justice provisions that weren’t included in Representative Ed Perlmutter’s SAFE Banking Act but that appealed to Schumer and other progressive Democrats.

According to Cantor Fitzgerald investment analyst Pablo Zuanic, the reported discussions between Schumer and Joyce are a sign that the Senate majority leader could be open to a “reasonable and realistic” compromise on the SAFE Banking Bill.

Although Schumer has been an avid supporter of comprehensive cannabis reform, he hasn’t been a big fan of the SAFE Banking Act, stating that it seems to protect industry interests first and doesn’t align with his goal of comprehensive cannabis reform. In late 2021, he stated that key senators had agreed not to advance the cannabis banking legislation before federal legalization. The reported talks signal a major change in Schumer’s views on the importance of cannabis banking.

On the other hand, Zuanic isn’t 100% certain that the SAFE Banking Bill will make it into the final version of American competitiveness legislation that is currently being discussed by a bipartisan conference committee. He believes that Joyce’s HOPE Act could be a reasonable compromise for Schumer, who is probably starting to feel the pressure from lawmakers and lobbyists to pass cannabis banking legislation.

Schumer is also expected to officially introduce his Cannabis Administration and Opportunity Act later this month after a couple of delays.

If these regulatory changes are made allowing cannabis banking and other reforms, the industry and its leading players, including Flora Growth Corp. (NASDAQ: FLGC), will check off one hurdle that has bogged down the industry for years.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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Flora Growth Corp. (NASDAQ: FLGC) Achieves Key Milestone in Global Expansion Plan with JustCBD Launch on Amazon UK

Flora Growth completed the acquisition of Just Brands LLC and High Roller Private Label LLC, owners of the JustCBD brand, on February 28, 2022
The company then expanded its operational footprint in Europe and the UK in May 2022 to further its international growth strategy
JustCBD products, including gummies and tinctures, will be available on www.Amazon.co.uk starting this month in a pilot-only program
Flora Growth is optimistic that this launch will allow the company to reach a larger consumer base as it works towards further expanding its operations across Europe

On February 28, 2022, Flora Growth (NASDAQ: FLGC) completed the acquisition of 100% equity interests of Just Brands LLC and High Roller Private Label LLC, owners of the JustCBD brand. The transaction, which involved a consideration of $16 million in cash and 9.5 million in privately issued Flora common shares, was a move by Flora Growth to explore global expansion opportunities and increase the company’s customer database (https://cnw.fm/ccydT).

By mid-May 2022, Flora Growth had already announced the expansion of its operational footprint in Europe and the United Kingdom to further its international growth strategy. But, more importantly, the move signaled the company’s assertive push to broaden the reach for its JustCBD’s 79 products registered with the UK Novel Foods, paving the way for meaningful distribution of its growing house of brands.

“Establishing our roots in the UK and EU will not only afford us opportunities to increase our distribution and grow market share, but it will generate actionable market insights for our team to continue to innovate and deliver the most

compelling experiences we can,” noted Luis Merchan, Flora Growth’s President and Chief Executive Officer (“CEO”) (https://cnw.fm/Nx2Jm).

In what marks a noteworthy milestone for Flora Growth and its expansion plan, the company announced that JustCBD would launch its Novel Foods registered CBD products on Amazon.co.uk.

JustCBD’s product line will be available on the site starting this month, making available a portfolio of the company’s best-selling gummies and tinctures.

“With health and wellness playing an increasingly important role in customers’ lives, we are excited to increase the selection of quality CBD products offered to Amazon customers in the UK,” noted Hussein Rakine, the CEO of JustCBD.

“The JustCBD team looks forward to working closely with Amazon to expand our product offering to other countries as our partnership and brand presence in the United Kingdom Grows,” he added (https://cnw.fm/i76q9).

The CBD market in the UK is currently valued at £700 million and is projected to hit £1 billion by 2025. This growth is attributed mainly to the UK’s regulatory framework, which is regarded as the most evolved in the world. Such structures have seen key corporations such as Amazon venturing into this market, introducing a pilot-only program that includes vendors who have already demonstrated compliance with the UK CBD Novel Food regulations.

JustCBD has already undergone the Novel Food regulations approval process and has been awarded the necessary authorization proving that its products are safe for consumption and labeled correctly. With the launch of its product line on Amazon UK, Flora Growth is optimistic that it will reach a larger consumer base even as it works towards further expanding its operations across Europe.

“International growth is a key objective of our company’s strategy,” noted Mr. Merchan.

“The launch of Amazon UK allows Flora to reach a larger consumer base in search of quality CBD products. We are excited to continue expanding our operations in Europe and to deliver top-quality cannabis-related products to customers aiming to improve their health and wellness,” he added.

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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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Announces $5M Share Repurchase Program

Flora (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, today announced that its board of directors has authorized the repurchase of up to $5 million of its outstanding common shares as market conditions and the company’s liquidity warrant. “We believe that the potential to repurchase our shares at these levels represents a compelling opportunity to deploy available cash to drive shareholder value,” said Luis Merchan, Flora’s chairman and CEO. “Flora continues to move assertively to execute its growth plans while simultaneously improving gross profit margins and reducing corporate overhead expenses. We are confident in the company’s short, medium and long-term growth prospects based on our strong in-market brand portfolio together with our cultivation and export capabilities and life sciences research. The repurchase program affords us the opportunity to increase our ownership in our portfolio of high-quality brands through our shares, which in our view are trading well below NAV.”

To view the full press release, visit https://cnw.fm/2zFZw

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands designed to deliver the most compelling customer experiences in the world, one community at a time. As the operator of one of the most extensive outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands and life sciences divisions. Visit www.FloraGrowth.com or follow @floragrowthcorp on social media for more information.

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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420 with CNW — The Do’s and Don’ts as Thailand Eases Marijuana Restrictions

Thailand has become the first country in Asia to decriminalize the cultivation and sale of marijuana. However, Thai residents won’t be living in a recreational cannabis paradise anytime soon.

The Asian country plans on enacting strict cannabis policies and tough penalties for anyone caught indulging in recreational weed. According to Thai Health Minister Anutin Charnvirakul, the move is meant to boost Thailand’s economy by tapping into the billion-dollar medical cannabis industry.

Anutin cautions against using cannabis recreationally as the country still has laws that control the consumption of marijuana products in a “nonproductive” way. Rather than launch a recreational market, Thailand’s new cannabis laws will allow citizens to grow and sell cannabis and hemp products.

Restaurants will also be allowed to stock and serve cannabis-infused drinks and foods as long as the product contain less than 0.2% of delta-9 tetrahydrocannabinol (THC). This is the main component in marijuana that makes users feel “high.” Hemp, which is virtually identical to cannabis except for its THC levels, has minimal to no THC.

Thailand’s cannabis policies will mainly be centered on medical marijuana. Already allowed by dozens of territories around the world, medical marijuana has been found to have potential in treating a variety of medical conditions.

Anutin says the country has no plans to be a recreational cannabis haven for tourists either, stating that Thailand will only promote medical cannabis policies. Tourists who wish to purchase medical cannabis products are free to visit, but those coming to indulge in adult-use cannabis are not welcome, he says.

Thailand is known for its tough anti-drug laws. As it stands, the Public Health act levies a punishment of up to three months in jail and a fine of $800 for lighting up in public. According to Anutin, the government has never considered legalizing cannabis for recreational consumption or to be used in ways that could “irritate others.”

The Public Health Ministry also announced that more than 3,000 inmates who were imprisoned for hemp- and cannabis-related drug offenses will soon be released. In wake of the legalization news, marijuana advocacy group Highland Legalization has organized a weekend festival that will involve panel discussions, musical performances and cannabis food sales.

However, some activists are still apprehensive about Thailand’s new cannabis policies as law enforcement hasn’t been as quick to adapt to changing laws. Thailand first decriminalized medical cannabis use in 2018 and has been steadily loosening its cannabis laws under Anutin’s watchful eye.

However, law enforcement hasn’t always kept up with these changes. A few weeks ago, a 56-year-old woman in eastern Chonburi Province who had diabetes and high blood pressure was arrested by plainclothes police officers after they saw a potted cannabis plant in her bedroom. Anutin states that the four officers have already been disciplined. He adds that the government will need to educate both law enforcers and ordinary citizens about the evolving cannabis laws.

As the strict marijuana laws around the region begin to loosen, an opportunity may be created for established cannabis companies such as Flora Growth Corp. (NASDAQ: FLGC) to expand into these emerging markets.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

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420 with CNW — U.S. Mayors Pass Measure Urging Congress to End Cannabis Prohibition

Earlier this week, the U.S. Conference of Mayors approved a resolution that would protect banks which work with state-legal cannabis businesses from federal penalties. This organization representing mayors passed the measure during its 90th annual meeting. In 2021, the body adopted a different resolution that promoted social equity in the growing marijuana industry and called for an end to federal marijuana prohibition.

This latest measure expresses support for federal measures to legalize marijuana, including the Cannabis Administration and Opportunity Act, which is being finalized in the Senate, and the Marijuana Opportunity, Reinvestment and Expungement Act (MORE Act), which was approved by the House.

This comes as Congress debates about whether to include the SAFE Banking Act as part of the America COMPETES Act, which is currently in negotiations in bicameral conference.

The mayors’ proposal states that the illegality of marijuana under federal law and the conflict it creates between federal law and state law has created significant barriers and challenges for legally operated and owned medical and recreational marijuana dispensaries and marijuana-related firms.

It also explains that marijuana firms aren’t able to access banking services that insurers and financial institutions provide to other businesses due to the possible civil and severe criminal penalties that these institutions may incur. This, it adds, has forced most companies to operate on a cash-only basis leading to an increase in targeted crime.

To resolve this, the mayors urge Congress to approve the SAFE Banking Act to not only enhance public safety but also offer financial security for marijuana dispensaries and related companies. Mayors of Henderson, Nevada; Fort Lauderdale, Florida; and Tacoma, Washington, sponsored the measure for the conference. This organization represents 1,400 cities in America, with populations of more than 30,000 individuals each.

Many hope that the SAFE Banking Act will be attached to the large-scale manufacturing bill in the interest of public safety and economic competitiveness. This measure, which has been approved in the House six times, is yet to be approved in the Senate.

Senate leadership is currently working to finalize a measure that would put an end to the federal prohibition of cannabis, and you can be sure that the entire cannabis industry, including companies such as Flora Growth Corp. (NASDAQ: FLGC) will be following all those federal legalization efforts.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

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CannabisNewsBreaks – Flora Growth Corp.’s (NASDAQ: FLGC) Completion of Key Milestones Position It for Success

Flora Growth Corp. (NASDAQ: FLGC) recently announced financial and operating results for the 2021 fiscal year that show the success of its efforts as revenues and profits begin what is expected to be a rapid climb. “The year-end financial results show about $9 million in revenues, which is ‘significantly higher’ than those reported the prior year before the law change and Flora’s IPO launch on the Nasdaq Capital Market. The report maintains the company’s outlook for ending 2022 with revenues of $35 million to $45 million, which would be growth of between 288% and 400% over 2021. Much of Flora’s momentum is driven by its acquisition of consumer wellness brand JustCBD, which increased Flora’s profile to more than half a million consumers through 14,000 retail stores in the United States,” reads a recent article. “We are proud of the milestones we achieved in 2021, including the completion of key strategic infrastructure projects, the strengthening of our balance sheet and the deployment of our M&A strategy,” CEO and Chairman Luis Merchan stated. “The completion of our cultivation and extraction facilities has positioned Flora for success in this rapidly evolving industry, as we satisfied the requirements for the cultivation, transformation and export of up to 43.6 tons of THC cannabis flower.”

To view the full article, visit https://cnw.fm/xYV8r

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands delivering the most compelling customer experiences in the world, one community at a time. As the operator of one of the most extensive outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands and life sciences divisions. Visit www.FloraGrowth.com or follow @floragrowthcorp on social media for more information.

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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420 with CNW — Cannabis Coalition Unveils New Campaign in Support of Banking Reform

Minorities for Medical Marijuana, Minority Cannabis Business Association, Marijuana Matters and Women Grow have banded together to create a campaign to help promote the economic and social equity advantages of allowing businesses involved in the cannabis industry to access financial services. The objective of the campaign, which has been dubbed SAFE4Equity, is to call for the SAFE Banking Act to be approved in Congress.

This banking measure, which is sponsored by Rep. Ed Perlmutter, was enacted as part of the America COMPETES Act, which is currently in negotiations in a bicameral conference committee.

Despite some advocates criticizing those who would like the banking reform to advance before a comprehensive measure is enacted, the cannabis advocacy group coalition believes that the reform’s passage would uniquely benefit small and minority and women-owned businesses because it would offer them resources that allow them to operate safely in this cash-intensive and volatile industry, while also competing effectively.

Marijuana Matters executive director Courtney Davis added that while this banking legislation wouldn’t repair the harms of the war on drugs, it would support people from historically disadvantaged communities and enable them to become successful entrepreneurs in the growing marijuana space.

Minorities for Medical Marijuana CEO Roz McCarthy stated that advocates had been calling for sensible marijuana reform for a long time now, adding that passing this equal and safe banking measure for those involved in the regulated marijuana industry would be a big step in the right direction.

Executive director of the Minority Cannabis Business Association Amber LittleJohn explained that the SAFE Banking Act’s passage would create a sustainable future for small marijuana business and put an end to the unjust criminalization of marijuana. This is what Perlmutter has repeatedly stated while advocating for the banking reform’s passage.

During a recent press release, the congressman stated that he appreciated the campaign’s support of the SAFE Banking Act as well as the coalition’s advocacy for federal marijuana reform, noting that the banking measure would address the needs of small businesses and underserved communities. Perlmutter added that it was vital that the bicameral committee solve this issue as soon as it could and begin relieving the threat of inequity and public safety that threatens emerging small businesses and communities in various parts of the country.

The congressman’s office also put out a separate press release last week that quoted a number of his colleagues in Congress who supported the SAFE Banking Act’s passage as a reform that would address equity, financial transparency and public safety not only for companies such as Flora Growth Corp. (NASDAQ: FLGC) but for entire communities.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

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Flora Growth Corp. (NASDAQ: FLGC) Adding to Cannabis Product Line, Research

Flora Growth is building on its cannabis brand globalization efforts with two partnerships that expand its product portfolio and its research efforts in the United States and United Kingdom
Flora’s partnership with former NFL athlete Ricky Williams has delivered its first product — a cannabis one-hitter accessory designed to provide a unique experience emblematic of Williams’ active lifestyle brand
The company’s acquisition of the Masaya CBD brand developed by a cell biologist on Flora’s board of directors gives the company a formulation suitable for its current clinical trial efforts in the United Kingdom, and a well-received brand designed to help seizure patients
Flora’s cultivation operations are centered at its Colombia facility, and recent regulatory changes there have made it easier for Flora to supply its brands in the United States and elsewhere

On the heels of a year in which global cannabis market brand-builder Flora Growth (NASDAQ: FLGC) saw rapid expansion of its cultivation, manufacturing and distribution operations that support the company’s business divisions for cosmetics, hemp textiles and food and beverage products, Flora is increasing its offerings by bringing a promising CBD brand into its fold and introducing a new product for quality cannabis experiences.

The acquisition of cell biologist Dr. Annabelle Manalo-Morgan’s Masaya brand gives Flora Growth its first offering under its Flora Life Sciences division as well as a patent-pending formulation for use in Flora’s current clinical trials with the University of Manchester in the United Kingdom (https://cnw.fm/05Tev).

The launch of the global clinical trials was announced in October, heralding an effort to study the effects of Flora’s cannabis on fibromyalgia and chronic pain patients (https://cnw.fm/Fu6lQ). Manalo-Morgan developed the formulation for Masaya after her son was born with a condition that led him to suffer from as many as 200 seizures per day.

Manalo-Morgan’s son initially underwent surgery that removed nearly 40 percent of his brain, but Manalo-Morgan’s discovery of CBD’s medicinal potential and development of Masaya’s formulation provided her a non-surgical path for ensuring her son’s well-being.

“He has no developmental deficits. If you saw him, you would never know there was a thing wrong with him. He is not autistic, delayed, nothing. He is a normal 5-year-old boy,” Manalo-Morgan told a news reporter as her son prepared to enter kindergarten last year (https://cnw.fm/DjMth). “If I didn’t do this, my son would most likely be tied to a wheelchair, wouldn’t speak, would still be eating out of a tube. But luckily his mom is a scientist.”

Masaya has been used by thousands of consumers since its development with positive testimonials.

“Amplifying Dr. Annabelle and her son’s beautiful story and improving the well-being of people around the world is our aim,” Flora Chairman and CEO Luis Merchan stated in the company’s news release. “This acquisition allows us to deliver on our promise to invest in safe, thorough, cutting-edge scientific research that can bring meaningful change via an efficacious and accessible product offering for people worldwide.”

On May 18, Flora also announced the development of a custom accessory for cannabis use in collaboration with cannabis lifestyle brand Highsman, which was founded by former NFL running back Ricky Williams.

The patent-pending Highsman Helix one-hitter accessory is the first product introduced under the partnership between Highsman and Flora’s cannabis accessories brand Vessel (https://cnw.fm/ipHTH). It is crafted in non-toxic brass and uniquely designed to offer “the perfect combination of filtering and cooling.”

Vessel’s other luxury accessories include a high-end line of vape pen batteries and dry-herb accessories, while Highsman also markets apparel and other accessories designed to appeal to people with active lifestyles, inspired by Williams’ success.

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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420 with CNW — States Grapple with Setting Regulations for Hemp-Derived Intoxicating Products

America’s hemp industry has been plagued by one major issue since the 2018 Farm Bill legalized industrial hemp: federal inaction. While the legislation allowed the cultivation and sale of industrial hemp under state programs, lawmakers did not create a comprehensive regulatory structure for hemp or hemp-derived products.

The result is a sector that has been referred to as a “wild west” where businesses barely have any rules governing how they operate and which products they can put out into the market. One of the core provisions for legalizing industrial hemp was that it had to contain less than 0.3% delta-9 THC, which is the main intoxicating agent in marijuana.

However, lack of federal action has led to the proliferation of cannabinoids other than delta-9 THC with the ability to intoxicate users. States are now grappling with how to deal with psychoactive cannabinoids such as delta-8 THC, which aren’t explicitly covered in the Farm Bill’s language.

In Tennessee, for instance, the market has been flooded by unregulated products dubbed “frankenweed” due to claims of them being created in laboratories. Lawmakers were faced with the choice of either banning delta-8 THC and other psychoactive hemp-derived cannabinoids or setting safety standards for the market.

Nashville lawmakers were unable to make a decision early enough, leaving the state inundated with intoxicating and possibly dangerous THC products with no safety oversight or age requirements for purchasing. Hemp Alliance of Tennessee president Frederick Cawthon calls the entire ordeal a “roller-coaster ride.”

Federal ambiguity regarding hemp-derived products is to blame for this regulatory roller coaster. The greatest beneficiary of this ambiguity has been CBD, a hemp extract said to have medical applications. As long as the hemp they were derived from met the less than 0.3% delta-9 THC threshold, cannabinoids such as CBD and delta-8 THC are considered legal.

This ambiguity also means that hemp operators may act contrary to some food and drug laws despite following hemp laws. The U.S. Food and Drug Administration (FDA), which has been charged with creating concise hemp rules, has barely made a move to regulate the multitude of hemp extracts that are steadily emerging.

Denver-based lawyer Shawn Hauser says the FDA’s inaction has forced states to step up and craft their own rules for dealing with hemp-extracted intoxicants. During a recent webinar meant to help unravel the resulting complex patchwork of hemp regulations, Hauser said that states still run into problems when they try to set limits on synthetic, or‘intoxicating, hemp products as federal law has no definition for these terms.

Colorado, Kentucky, Virginia and at least 10 other states have considered proposals designed to regulate the sale of hemp derivatives this year while the Minnesota and Maryland legislatures have already passed bills to place limits on the sale of hemp intoxicants.

The lack of federal regulations governing commerce in hemp derivatives poses a big challenge to industry actors, such as Flora Growth Corp. (NASDAQ: FLGC), that would like to establish their footprint across different jurisdictions. This is because it is hard to tweak different products in order to adhere to the patchwork of rules (where they exist) in different states.

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Flora Growth Corp. (NASDAQ: FLGC) Bolsters its Global Expansion Strategy with Cannabis Regulatory Veteran Holly Bell’s Appointment; Hosts Regulatory Webinar

Flora Growth has appointed regulatory veteran Holly Bell as the new Vice President of Regulatory Affairs
Bell will help further the company’s domestic and global expansion strategy and lead government relations in key international markets
She will also oversee the regulatory strategy supporting the advancement of the company’s cultivation, distribution, and pharmaceutical programs
Bell also participated in the first event in her new position- the Florida Industrial Hemp Conference and Exhibition held on May 20-22, 2022

In recent months, Flora Growth (NASDAQ: FLGC) has been on an aggressive international expansion plan that has seen exports to Mexico and Spain, with an established presence in the U.K. and E.U.

In a move to strengthen the company’s global expansion strategy further, Flora Growth recently announced the appointment of regulatory veteran Holly Bell as the new Vice President of Regulatory Affairs. Bell will also be responsible for leading government relations in key international markets (https://cnw.fm/HxZ7j).

“I am excited to be working with Flora, supporting our work on the global stage, by advancing how the world views cannabis as a product and as a medicine,” she noted.

“I’m looking forward to leveraging my experience launching Florida’s hemp program to help Flora improve access to some of the best wellness brands in the world. From our leadership and brand teams to our valued scientists and cultivators, every part of the Flora organization is decided to providing safe, legal, and accessible cannabis products to consumers globally,” she added.

Bell has extensive experience in the cannabis sector, having worked as a cannabis consultant across the United States helping to build the infrastructure for industrial hemp programs. Most recently, she was the Florida Department of Agriculture and Consumer Services’ first Director of Cannabis. This agency fosters the creation of manufacturing, cultivation, and sales programs in the state.

Through her previous positions, Bell has worked with leading regulators throughout Florida to create the first commercial hemp program in the state and develop an extensive educational series on the same program. She has also advised leading financial institutions on compliance to assist them in offering banking services to cannabis businesses.

“Holly’s unique knowledge and understanding of the United States’ regulatory framework will position us to make thoughtful, educated, and bold decisions regarding strategic distribution, cultivation, and sales plans,” noted Luis Merchan, Flora Growth’s President and Chief Executive Officer.

“We look forward to bringing Holly’s enterprise to our growing roster of industry standouts and working closely with governments worldwide to break down the barriers to the cannabis trade,” he added.

Bell will oversee the regulatory strategy supporting the advancement of Flora’s cultivation, distribution, and pharmaceutical programs, including its regulatory submissions and interactions with government authorities worldwide. She will also work towards developing and expanding a curriculum produced in partnership with EdEx that educates university students, companies, and governments about the business of cannabis.

The Florida Industrial Hemp Conference and Exhibition was Bell’s first event in her new position at Flora Growth. The event centered on advancing the industrial hemp industry in Florida and across the United States. Bell offered an overview of the state’s hemp program, which she helped leading state regulators develop (https://cnw.fm/poaqh).

The conference followed the Cannabis Regulatory Landscape webinar, where Bell, Jason Warnock, Flora Growth’s COO, and Mr. Merchan explored the nuances of working within the global cannabis regulatory framework. Discussions in the webinar included an overview of the opportunities and challenges for Flora and other cannabis companies operating in the U.S., Colombia, and other global markets, along with the importance of working closely with government entities.

The other topics covered in the webinar included what to expect from crucial bills to increase accessibility and market opportunities for Flora Growth and which markets continue to show substantial promise.

Bell holds a bachelor’s degree in Agricultural Economics from Purdue University and is a tenured consultant with experience working in the entertainment, cannabis, and banking spaces.

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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