To become self-sufficient in the production of medical marijuana, Italy is cultivating plants with covert nutrients in military-grade sterile environments. According to DefenseNews, Italy’s army aims to produce more than 1,500 pounds of high-quality marijuana or about 50% of the estimated 3,300-plus pounds that the nation needs each year to meet the needs of those who use it to manage their chronic pain from diseases such as Parkinson’s disease or cancer.

Cannabis is imported into Italy from Canada, Holland, Germany and Denmark. With the opening of the military facility in Florence, however, the country hopes to produce a premium product with an unrivaled dosage at a cost comparable to imported cannabis.

The Florence operation, which began operations in 2014, achieved 110.2 pounds in 2020 and expanded to 661.4 pounds in 2022. This expansion was made possible by increasing the number of growing rooms from two in 2016 to 10 most recently. To achieve the 1,500 pounds of cannabis required this year, lab technicians are working on improving watering, lighting, and ventilation. They also use a mix of top-secret nutrients created internally.

Nicola Latorre, head of the Italian agency in charge of the project, also stated that the lab intends to produce olive oil infused with cannabis that users can consume in the form of drops. He went on to say that five privately owned businesses were working to provide additional mother plants to help facilitate growing the plants. He made it clear, however, that the country would continue to handle the main operation to ensure cost and quality.

Officials noted that the military was chosen as the legal marijuana grower and supplier for several major reasons: first, it could guarantee strict security; and second, its involvement in the production of medicinal drugs for a long time, having offered medications and treatments to wounded soldiers since the 1800s.

Additionally, the military produces orphan drugs, which are treatments for uncommon illnesses that most pharmaceutical companies avoid due to their low production volumes. Four of these medications are currently produced by the military to serve 3,000 Italians.

For the two marijuana strains that it grows, the military has produced the trademarks FM2 and FM1, meaning Farmaceutico Militare (translating to Military Pharmaceutical). Tetrahydrocannabinol, the chemical that creates the high associated with marijuana use, is present in varying amounts in each.

This is not the first time the army has been involved in the growth of medical marijuana. According to a 2014 report by The Independent, the country announced that the army would assist in increasing medical cannabis production, with the first secure growing facility opening in Florence in April 2015. As a result, the army began growing large crops of cannabis to drive the drug’s price down to around $8.50 per gram in 2016.

As nations such as Italy try to establish their own cannabis production systems, they are likely to keep depending on international suppliers such as Flora Growth Corp. (NASDAQ: FLGC) while waiting for their local capacity to grow to the required level.

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

About CNW420

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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Last week, a legislation that would allow legal and licensed operators in the cannabis industry to receive federal tax deductions that are offered to other businesses was introduced in Congress. The bill, which was introduced by Representative Nancy Mace, seeks to revise section 280E of the Internal Revenue Service code.

Section 280E prohibits businesses involved in activities comprised of trafficking in substances classified under the Controlled Substances Act such as marijuana, from receiving tax credits or deducting expenses from their taxes. This is despite the fact that these entities are still required to pay taxes like other businesses.

This section was enacted more than four decades ago to stop drug traffickers from writing off expenses on their taxes. Today, it is applied to state-legal cannabis cultivators, processors and stores, which significantly increases the tax rates of these businesses, in comparison to companies in other industries.

Legislators have, in previous sessions, tried to change the provision to allow state-legal cannabis businesses to be treated like businesses in other markets. However, Since the bill was introduced with only days left in the previous session, it will have to be reintroduced in the next session of  Congress.

The last version of the legislation was sponsored by Representative Earl Blumenauer, who also sponsored the SAFE Banking Act. This bill has been cleared by the House more than five times, with many hopeful that its approval would fix some issues in the cannabis industry. However, it was not enacted after stalling in the Senate once again.

This comes as states such as Pennsylvania and New Jersey continue to offer some tax and banking relief for marijuana industry operators in their jurisdictions. As a whole, however, the cannabis industry continues to face challenges caused by prohibition.

The only guidance the Internal Revenue Service has provided explains that while marijuana businesses can’t apply for standard deductions, Section 280E doesn’t prohibit these businesses from decreasing their gross receipts by properly calculating cost of goods sold to determine their gross income.

This update was issued in response to a report by the Treasury Department, which saw the inspector general for tax administration criticizing the IRS for not sufficiently advising taxpayers operating in the cannabis industry on federal tax law compliance. The treasury report also directed that the IRS offer guidance for the cannabis industry.

Congresswoman Mace wasn’t the only Congress member to file a bill to reform drug policy with a few days left in the last session. Representative Matt Gaetz also reintroduced a measure to promote studies of cannabis. He has filed the legislation in previous sessions.

If these reforms to the federal tax code are passed, it could potentially make a big difference to the bottom lines of marijuana companies such as Flora Growth Corp. (NASDAQ: FLGC) because of the tax relief secured.

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

About CNW420

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), a cannabis cultivator and global distributor, is a rapidly growing house of brands building customer bases and distribution channels across international lines as it aims to distinguish itself within a highly competitive arena. “Much of Flora Growth’s strength lies in its licensed cultivation, extraction and isolation facility located in northern Colombia’s fertile climate, where an experienced labor force is helping the nation emerge from decades of drug war illicit trade into a recognized and regulated market,” a recent article reads. “From its 247 acres of growing fields, the company’s harvests move into a production pipeline that includes a flower and derivatives production lab situated within the cultivation camp, as well as a topical, capsules and dietary supplements lab in Colombia’s capital and a third lab in the United States, where CBD ingestible, tinctures and gummies are made. A fourth state-of-the-art lab being built in Colombia’s capital is being designed to formulate custom and proprietary pharmaceuticals that will be sold and used in Colombia. The life sciences lab is expected to open by the end of this year with eight registered pharmaceutical grade formulas that target specific ailments such as insomnia, epilepsy and anxiety.”

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

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 largest 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

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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• International cannabis operator Flora Growth Corp. is rapidly expanding its global footprint and Colombia-based international supply chain thanks to strategic acquisitions during the past several months
• Flora’s most recent acquisition was concluded just before Christmas on finalization of an agreement with multi-national operator Franchise Global Health Inc. that strengthens Flora’s position in Europe
• Franchise Global Health (“FGH”) serves 1,200 pharmacies in Germany, which the companies regard as the doorway to the rest of Europe, and it also has a footprint in Portugal and Denmark, while Flora Growth has completed exports to Switzerland and the Czech Republic
• Flora reported a 604 percent YOY increase in revenues for the first half of the year and recently added an increase of 414 percent YOY for the Q3 period

Cannabis cultivator and global distributor Flora Growth (NASDAQ: FLGC) is entering the new year with its latest acquisition completed, opening the way for accelerated expansion into Europe’s marketplace.

Franchise Global Health Inc. (TSX.V: FGH) announced Dec. 23 that it had completed arrangements for Flora Growth to acquire its issued and outstanding shares, and that the former holders of common shares of Franchise Global Health would be delisted from the TSX Venture Exchange on or about Dec. 28 as the company ends its public reporting obligations (https://cnw.fm/UmzJs).

Franchise Global Health Inc. serves 1,200 pharmacies in Germany through its wholly owned subsidiaries ACA Muller and Phatebo, and the company’s acquisition by Flora Growth will provide FGH with important cannabis supply chain security, while Flora will be able to build on the new inroad to the German market and launch farther into Europe from there.

“Our full focus is on Germany,” FGH CEO Clifford Starke said during an October webcast about the agreement. “Our strong position is on the distribution front. … Which, if this cannabis market is going to come to life, which we all believe so, … we’re extremely well positioned to go past Germany into the rest of Europe. It’s very important to understand that 75 to 80 percent of the sales in Europe are accounted in Germany.”

Flora has already exported its first high-CBD dried cannabis flower products from Colombia to Switzerland and the Czech Republic. Subsidiary JustCBD, acquired by Flora earlier in the year, registered 79 products with the United Kingdom’s novel foods standards agency as well.

Flora operates its Cosechemos cultivation, processing, extraction and isolation facility in Colombia, a country with prime growing conditions that has undergone a renaissance in cannabis cultivation during the past few years as the national government has achieved a framework for legalizing the export of select cannabis products.

Flora reported a 604 percent increase YOY in its H1 revenues, and its Q3 financials showed similar momentum as revenue for the three-month period ended Sept. 30 came in at $10.8 million, an increase of 414 percent year over year accompanied by a 703 percent YOY growth in gross profit (https://cnw.fm/uNae5).

In addition to FGH’s early mover advantage in Germany, the company has a footprint in Portugal and Denmark, offering further potential for Flora’s European market ambitions (https://cnw.fm/g6T2C).

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

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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Google plans to lift a ban on advertising certain CBD and hemp products in some parts of America in January 2023. In an announcement made last week, the global technology company confirmed that it would permit the advertising of cannabis products in Puerto Rico, Colorado and California by updating its list of dangerous medicines products, services and healthcare.

The company stated that the FDA’s approval of hemp-sourced CBD products containing 0.3% or less THC level as well as pharmaceuticals containing CBD meant that the products could now be advertised in the aforementioned jurisdictions. Google added that while CBD would be deleted from its list of banned pharmaceuticals and supplements, other advertisements that promoted other CBD-infused products, such as inhalants, food additives and supplements were still banned.

It remains unclear why the internet giant is restricting the change in policy in California, Colorado and Puerto Rico, especially since hemp and its derivatives are federally legal and their products are marketed throughout the country.

Google is working with LegitScript to certify marijuana products for advertising eligibility. The company explained that in the U.S., only topical CBD products certified by the company could be promoted on the site, noting that certification required that companies seeking to advertise their products present samples of the products for testing to ensure they comply with the current limit for THC. Additionally, companies would need to provide a certificate of analysis from a third party.

Scott Roth, CEO of LegitScript, stated in a press release that the company’s seal on websites or products showed that companies operated safely and transparently. He noted that it was important to ensure consumers that the CBD products they were buying had been vetted properly, especially in an industry that was still experiencing issues with products being substandard, tainted or even illegal.

The notice issued by Google also highlights that pharmaceuticals approved by the FDA as well as LegitScript-certified advertisers will also need to be certified by Google before they can run their ads. Google notes that advertisers can request certification beginning Jan. 20, 2023.

The internet giant’s shift may positively influence the hemp industry, particularly if it’s stretched to cover all territories and states.

A few years ago, Google received criticism after its announcement on the banning of cannabis products from Google Play. It seems to have yielded, however, as delivery services such as Eaze can be found on the app store.

As more tech platforms ease their restrictions on advertising various products derived from hemp, entities such as Flora Growth Corp. (NASDAQ: FLGC) are likely to have more ways to reach potential clients, thereby boosting their growth strategies.

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

About CNW420

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 (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, is reporting on its commercial cannabis operations out of Colombia. According to the status update, the company exported an estimated 1,000 kilograms of commercial cannabis dry flower and derivatives to Europe and the United States in the fourth quarter of 2022; the company also received an updated cannabis export and production quota from the Colombian government, which included the addition of four additional proprietary genetics and increased production for domestic medical markets. The company noted that this activity is a result of the full commercialization of the Cosechemos farm and Flora Lab One facility in Bucaramanga, Colombia. “As the largest cultivator of commercial cannabis in Colombia, our ability to activate our farm and distribute products is nearly unmatched,” said Flora Growth chair and CEO Luis Merchan in the press release. “With the acquisition of Franchise Global Health completed just last week, we now have direct lines of distribution to Germany and the rest of Europe.”

To view the full press release, visit https://cnw.fm/s6I06

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 largest 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.

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

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

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Researchers from the University of California San Diego recently conducted a study on the impact of adult-use decriminalization and legalization of marijuana on possession arrests. They discovered that legalization was linked to a significant decrease in marijuana possession arrests among individuals in legal states that decriminalized the drug prior to legalizing it. This is in addition to observing that the reduction in arrests was considerably higher in states that had shifted to legalization from criminalization without decriminalizing marijuana.

For their study, the researchers obtained data on marijuana possession arrests from the Uniform Crime Reporting program, with a primary focus on data from 31 states in the period between 2010–2019. The researchers carried out an analysis of this data, noting that of all the states included, only nine had implemented legalization during the period of study. Four of the nine states had legalized marijuana before they decriminalized it while the remaining five had legalized the drug after decriminalization.

The researchers observed that cannabis possession arrests had declined by more than 76% in the four states that legalized the drug before they decriminalized it. This was quite high, especially in comparison to the 40% decrease in arrest rates recorded in the five states that legalized cannabis after decriminalizing it.

The researchers stated that their findings suggest that legalizing marijuana without decriminalization first substantially affected the decline in arrest rates than legalizing the drug after decriminalizing it. They then noted that legalization was also linked to a further decrease in arrest rates, even after a state decriminalized marijuana. The reduction in marijuana possession arrests among White and Black people after legalization confirms this.

While both White and Black people have similar rates of marijuana use, Black people are more than three times as likely to be arrested for marijuana possession compared to White people.

The researchers observed that states which legalized marijuana before decriminalizing it recorded an almost 78% reduction in arrest rates among Black adults and 74.6% among White individuals. These figures are very high, especially when compared to the 41% and 35% decline in arrest rates among White and Black individuals respectively in states that decriminalized marijuana before legalizing it.

In their report, the investigators note that while their research compares decriminalization and legalization of marijuana purely from the perspective of a decline in possession arrests, it has a number of limitations. These limitations include the fact that some of the data used may not be accurate and that the data obtained from the Uniform Crime Reporting program is entered on a voluntary basis.

The study’s findings were reported in the “Journal of American Medical Association.”

Advocates have often argued that ending prohibition and allowing licensed companies such as Flora Growth Corp. (NASDAQ: FLGC) to operate legally has far-reaching benefits, and this study highlights yet another way through which this is true.

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

About CNW420

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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Cannabis Public Policy Consulting recently conducted a new large-scale survey, which found that states which still criminalize cannabis have more underage users. The cannabis policy consulting company carried out an analysis of an extensive range of cannabis use trends and public health outcomes in 25 states. They included states where adult-use marijuana is legalized, where only medical cannabis is permitted and where marijuana is completely prohibited.

The survey’s findings back the notion that regulated marijuana markets encourage positive marijuana-related outcomes to public health and also promote responsible behaviors. The survey focused on various factors, including the age of initiation for cannabis use. This is considered a central data point since an individual is more likely to experience negative short- and long-term health outcomes as well as societal consequences the younger they are when they start consuming drugs such as marijuana.

The researchers discovered that the average age of initiation in both recreational and medical states was 17 while the average age in illegal states was 16.7 years. They explained that while the difference between the two ages seemed small, it could represent a crucial part of youth development. The researchers also noted that their findings demonstrated that access to cannabis for adults in legal states wasn’t causing young individuals to begin consuming marijuana at earlier ages.

The survey also found that young people aged between 16 and 20 living in states where marijuana was illegal used the drug more frequently, at an average of 13.6 days monthly. This figure is higher than the 9.5 days recorded in recreational states and almost double the 7.9 days observed in medical states.

In the report, the researchers noted that collectively, young individuals in both recreational and medical states averaged roughly 5 days less of marijuana use in comparison to their counterparts in states where the drug was illegal. They highlighted that annually, this difference equaled 60 days more marijuana use in illegal states.

In addition to frequency of use, the survey also looked into impaired-driving cases, determining that individuals living in illegal states had the highest number of impaired driving cases, at 5.1 days per month on average. In adult-use and medical states, this figure stood at 4.3 and 4.2 days per month respectively.

Furthermore, the researchers examined cannabis use disorder rates. The disorder is characterized by difficulty reducing or controlling cannabis use, experiencing symptoms of withdrawal, continuing to use the drug despite negative consequences and finding it hard to maintain relationships.

These findings regarding the lack of escalation in teen use following marijuana legalization provides proof that the legal industry and its actors, such as Flora Growth Corp. (NASDAQ: FLGC), are making a lot more positive contributions to society than they are currently given credit for.

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

About CNW420

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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• Cannabis cultivator and international brand developer Flora Growth has continued to build its revenues through accretive acquisitions during the past year and expects to see revenues continue to rise amid further M&A activity
• Flora expects to lock in its latest acquisition by the end of the month after shareholders meet to discuss the proposed deal with multi-national operator Franchise Global Health (“FGH”), which would grant Flora immediate access to Germany’s cannabis market and FGH the ability to overcome supply chain difficulties
• Flora has previously reported cooperative agreements that increase its product distribution pipeline in Europe through Switzerland and the Czech Republic

In spite of outside pressures on the cannabis sector, some analysts are predicting a reversal in the trend during the coming months (https://cnw.fm/Yg6my), and the most resourceful companies are continuing to build income channels amid the slowdown.

International cannabis cultivator, Flora Growth (NASDAQ: FLGC) has boosted its YOY revenues more than five fold since Q3 2021 thanks to its strategic acquisitions, and its ambitious growth outlook includes the establishment of a global presence in key markets while creating an ecosystem for its multiple cannabis and wellness brands.

Flora Growth’s newest effort to boost its portfolio comes in the form of an agreement to acquire multi-national operator Franchise Global Health Inc., a company that serves 1,200 pharmacies in Germany through its wholly owned subsidiaries ACA Muller and Phatebo.

Flora Growth believes the acquisition will be transformative, enabling it to connect its Colombian-grown cannabis directly with German-based pharmaceutical and medical cannabis distribution. Franchise Global Health will hold a special shareholder meeting to review the pending acquisition this month, and Flora expects the deal to close by year’s end, according to a company news release (https://cnw.fm/pqu98). [See https://cnw.fm/XUXHY for full Zacks Small-Cap Research report.]

Flora has already been making inroads into Europe thanks to a new openness to creating a framework for legal cannabis exports by Colombia’s administration.

“We are proud to help increase access to safe, legal CBD and THC to consumers all over the globe,” Flora Growth Chairman and CEO Luis Merchan stated in September following the company’s first exports of high-CBD dried cannabis flower to Switzerland and the Czech Republic (https://cnw.fm/0ykaz).

Franchise Global Health has also paired operations with strategic partnerships and investments in St. Vincent and the Grenadines, Portugal and Denmark, indicating further possibilities for expanding Flora’s distribution network.

The company’s efforts caught the eye of market analysts at year’s end, who significantly upgraded their near-term revenue forecasts while also reducing their loss estimates as the company drives toward profitability (https://cnw.fm/miiWj).

FGH CEO Clifford Starke has said he regards the merger with Flora to be the foundation of “a very sustainable business.”

“We have extremely strong revenue performance without executing on really what we’re trying to do, which is become a fully integrated medical cannabis company of high THC products,” Starke said during a webcast interview in October (https://cnw.fm/KxeZa). “We’re extremely well positioned to go past Germany into the rest of Europe. It’s very important to understand that 75 to 80 percent of the sales in Europe are accounted in Germany.”

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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