CBDNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Announces Recognition of Flora Beauty’s Mind Naturals as Trendsetting Brand at Cosmoprof North America

Flora Growth Corp. (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, today announced that Flora Beauty recently participated in the 18th annual Cosmoprof North America (“CPNA”) event. At CPNA, Flora Beauty’s Mind Naturals CBD Rich Moisturizer was selected for its innovation and featured in CosmoTrends, a special section on the show floor and report on the most trendsetting products from CPNA exhibitors produced in collaboration with renowned international beauty trend forecasting authority BEAUTYSTREAMS. The highly anticipated CBD Beauty special area, featuring brands that contain CBD as an essential ingredient, made its debut as part of the new larger Green Village, showcasing a select number of green and natural brands. The conscious consumerism drive is inspiring beauty brands to challenge their supply chains and make the leap towards biodegradable packaging. Each jar of Mind Naturals contains 250mg of hemp extract (<0.3% THC), designed to nourish, repair and protect the skin, leaving it soft and hydrated thanks to a natural formula and antioxidant properties. The formula is preservative, dye, and paraben-free, and contained in biodegradable packaging. “Concern for the environment is growing every day with more and more of us believing that through small steps and individual contributions we can do our part to save the planet. Not only is it the right thing to do, but this paradigm shift towards conscious consumerism and it being fundamentally part of our ethos and product portfolio sets us apart from others allowing us to be recognized by leading beauty authorities as trendsetting,” said Luis Merchan, president and CEO of Flora Growth. “We expect that as we increase our brand recognition and awareness, that will translate to increased sales as consumers come to appreciate our premium products and uncompromising supply chain.”

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

About Flora Growth Corp.

Flora is a cannabis company that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below-market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive. Visit www.FloraGrowth.ca or follow @floragrowthcorp on social 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 CBDWire

CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.

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420 with CNW — CBD Cosmetics Market Expected to Expand to $210 Billion by 2028

A recently published report that focused on the burgeoning CBD market estimates that by 2028, the global legal cannabis market will have reached $70.6 billion. Marijuana is one of the largest growth industries on the stock market. However, not all cannabis business segments are equal, with estimates showing that in the near future, some segments will considerably surpass others. One specific segment to watch is the CBD-infused products market.

CBD, or cannabidiol, is the nonpsychoactive compound found in the hemp and cannabis plants. It is one of the two most abundant compounds found in the cannabis plant, with the other compound being THC, which is psychoactive.

Currently, the edibles segment makes up the biggest share of the CBD-infused market. However, the cosmetics segment is expected to occupy a larger share in the near future. CBD-infused products include salves, lotions, gels and balms, which can be applied directly to the skin. These topicals are used for various symptoms, including muscle soreness, inflammation and localized pain.

You may be asking yourself if CBD-infused personal care products can really do all that.

In fact, studies have shown that CBD possesses anti-oxidant and anti-inflammatory properties, which may help deal with skin issues such as acne. Research has also found that CBD-infused topicals can be used to treat other issues, including psoriasis, dermatitis, cramping, headaches and arthritis.

Many individuals want to feel and look younger and healthy. This is why the international personal care and beauty market is valued at roughly $420 billion, with projections showing that by 2026, the market will have hit almost $560 billion. The increased adoption of these personal- care products is a main facilitator of the global CBD market’s growth. The market is expected to expand at a compound annual growth rate of 26.5%.

Forecasts show that between now and 2028, the CBD-infused product market will reach $216.7 billion, expanding at a compound annual growth rate of 45.6%. Projections also show that in the period between 2020 and 2024, the cosmetics market will expand at a compound annual growth rate of about 25%.

Canada and the United States are leading this growth, with at least 35 states in the U.S. legalizing medical cannabis, and Canada legalizing both recreational and medical marijuana. Other key markets for CBD-infused cosmetics include the United Kingdom, Mexico, China and Germany.

Various companies have joined the CBD-infused cosmetics market, including Valens Company Inc., which is involved in the sale of health as well as wellness products such as CBD bath bombs. Flora Growth Corp. (NASDAQ: FLGC) has also entered the market and offers a line of CBD wellness products.

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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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Marks Milestone with Receipt of 2021 Commercial Export Quota of Psychoactive Cannabis Flower from Colombian Government

Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has received its 2021 export quota from the Colombian Technical Quotas Group (“TQG”) of 7,900 kilograms of high-THC cannabis dried flower; the company anticipates using the dried flower for direct sale or to process into derivative products that will be exported. FLGC has already signed numerous agreements for the sale and distribution of the dried flower as well as derivative products into several international jurisdictions, including South Africa, Australia, Latin America and the European Union. FLGC management stated that receiving the quota was a milestone for the company and noted that the new 2021 export quota allocation should be sufficient for the company to meet the international demand for its products for the remainder of 2021 and into 2022. According to the company, the highest prices in the industry are in the psychoactive cannabis market, with the average wholesale price of THC distillate oil projected to reach anywhere from $3,500 to $8,000 per kilogram. “We have been eagerly anticipating and preparing for this announcement by cloning thousands of plants, which we currently have in propagation waiting to be transferred into our fields,” said Flora Growth vice president of agriculture Javier Franco in the press release. “While awaiting this quota, we were focused on optimizing our cultivation strategy and demonstrating our industry-leading production costs of just $0.06 per gram, while continuing to build out our facilities and applying for third party certifications. While we prioritize planting the new high-THC cultivars, it’s also important to note we are actively harvesting our high-CBD crops, and anticipate that this harvest will create a robust pipeline of cannabis derivatives for Flora to use across its premium brands and products, as well as for export to multiple international markets.”

To view the full press release, visit https://cnw.fm/H9qjr

About Flora Growth Corp.

Flora Growth is a cannabis company that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below-market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive. For more information about the company, please visit www.FloraGrowth.ca.

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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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Announces Receipt of GMC Authorization Permitting Cosmetic Product Manufacturing

Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, announced that it has received Good Manufacturing Practices (“GMP”) certification from the Colombian National Food and Drug Surveillance Institute (“INVIMA”) authorizing the manufacture of cosmetics products. Effective immediately, the authorization allows Flora to offer cosmetic products for export to international markets that require goods meet the rigorous GMP standards. The authorization also recognizes the Flora lab for its quality procedures, which are in line with global pharmaceutical companies, and demonstrates the company’s operational excellence and capability of achieving pharmaceutical-grade standards. Those standards are recognized by regulators around the world as representative of high-quality products. According to the announcement, the certification is an essential component of Flora’s global supply chain strategy and distribution plan as the company plans to produce cosmetic products containing cannabinoids at its Colombian facility. The products will be branded for both the company’s Flora Beauty division and for white-label clients. FLGC’s lab currently holds three GMP certifications and produces an impressive portfolio of more than 190 products and 63 over-the-counter products that are registered and licensed with INVIMA. The company is looking to expand its distribution channels in Colombia and gain international clients as well. “Attaining this certification is a significant accomplishment for our team as it demonstrates our ability to achieve pharmaceutical-grade standards recognized by regulators throughout the world and producing consistent, safe, high-quality cosmetic products,” said Flora Growth president and CEO Luis Merchan in the press release. “Out of more than 650 cosmetics laboratories throughout Colombia, Flora Lab is only the 13th company to successfully navigate and implement the rigorous quality standards necessary to reach this level of manufacturing excellence. As we look to bring our premium brands and products to markets around the world, this certification represents a key component of our supply chain strategy and distribution plan. We can now pursue distribution agreements for the sale of cannabinoid and noncannabinoid containing cosmetic products in global markets where GMP certification is required for market access.” To view the full press release, visit https://cnw.fm/Eki0L About Flora Growth Corp. Flora Growth is a cannabis company that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below-market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive. For more information about the company, please visit www.FloraGrowth.ca. 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 21000 (U.S. Mobile Phones Only) For more information please visit https://www.CannabisNewsWire.com Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer Do you have questions or are you interested in working with CNW? Ask our Editor CannabisNewsWire (CNW) Denver, Colorado www.CannabisNewsWire.com 303.498.7722 Office Editor@CannabisNewsWire.com CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Is Hemp Clothing as Sustainable as Claimed?

As more countries adopt the use of renewable energies, people are encouraged to live more sustainably. Clothes made from hemp have become a popular alternative to the traditional poly-cotton blend, as the material is not only ecofriendly but also natural.

So, what is hemp?

Unlike marijuana, hemp doesn’t contain THC, which is the psychoactive ingredient that causes a high. Hemp is a biofiber that has been used for millennia as rope, medicine, food and almost any other item that can be made from its fibrous and durable stalks.

Hemp fiber is completely biodegradable and natural, in addition to being antimicrobial, antibacterial, antiviral and hypoallergenic. This makes hemp a good option for the consumer, as well as a safer and cheaper crop for farmers to grow as it eliminates the need to use pesticides and fertilizers. Hemp also needs less water to grow, which makes it an even more economical crop. Currently, the primary growers of hemp globally are China, Canada and Europe.

How sustainable is hemp?

Mass-produced hemp has the potential to be more sustainable in comparison with cotton. As a fabric, hemp is also more durable and water absorbent.

Hemp cultivation gives high yields, which makes it an economically viable crop as well. Hemp can also grow in infertile land and needs less energy to grow into a healthy plant. This means that instead of the fiber industry using fertile land to grow hemp, that land can be used to grow food.

However, there are some things one should keep in mind when it comes to hemp farming, including the following:

  • Hemp seedlings are expensive, in addition to being delicate. While nearly 80% of these seedlings will germinate indoors, this number decreases to 50% when they’re planted outside.
  • Hemp plants need attention and protection from pests if cultivated outdoors or meticulous light and climate control if cultivated indoors.
  • In comparison with conventional farming, industrial hemp farming is more labor intensive.

Where can I buy hemp clothing?

You can buy hemp clothing from BeWUSST, which manufactures hemp leggings, sweaters and even hemp underwear. Hempys is also a good option as it offers both pure hemp wear as well as hemp-cotton and other fiber blends.

Many believe that hemp farming can also be used to meet global demand, which makes this fiber’s future extremely promising. In addition to this, hemp can save a lot of fertile land and water from a sustainability stance. However, for the global hemp fiber industry to thrive, it needs support.

With companies such as Flora Growth Corp. (NASDAQ: FLGC) set to take hemp textiles a notch higher, it may not be long before hemp clothing goes mainstream.

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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420 with CNW — Gallup Poll: Nearly 50% of Adult Americans Have Used Marijuana

Cannabis is more popular among Americans than it has ever been. After decades of prohibition, the past few years have seen dozens of states pass cannabis legislation, and thanks to constant demand, the nascent state-legal cannabis industry has already generated billions of dollars in revenue. The controversial plant has been the most-used drug in the United States for years and according to a recently released poll by Gallup, nearly half of the adults in the country have consumed cannabis at one point in their lives.

An estimated 49% of American adults have used cannabis at some point in their lives, analytics and advisory company Gallup says. The Washington-based firm has been running annual consumption habits polls for more than 50 years, and this is the highest percentage it has measured to date. More than 50 years ago, only 4% of Americans reported that they had tried cannabis, with the percentage gradually increasing to 20% in 1977, 30% in 1985 and 40% in 2015. Only 12% revealed that they smoked marijuana regularly.

According to Gallup, the proportion of American adults who smoke cannabis was 7% in 2013 and varied between 11% and 13% in recent years. This group skewed younger, with data collected from 2015–2021 showing that 20% of millennials smoke marijuana compared to 11% of gen Xers and 9% of baby boomers. However, polls did not contain data from gen Zers, the oldest of whom would be 24, as Gallup hasn’t collected sufficient data from them yet. The differences in cannabis use rates were mostly generational, with the older folk being less likely to try cannabis.

Older Americans born before 1945, for instance, were the least likely of all the generations to have tried marijuana with only 19% saying they had tried with marijuana. On the other hand, 51% of millennials, 49% of Gen Xers, and 50% of baby boomers have experimented with cannabis at least once in their lives.

Data from Gallup polls conducted from 1985 to 1999 shows that 44% of gen Xers and 50% of baby boomers had already tried cannabis by then. Only 10% of traditionalists, or individuals born before 1945, had tried marijuana by then and, as of the latest consumption habits poll, just 1% of traditionalists smoke marijuana compared to 20% of millennials.

Gallup polls also indicated that 16% of men and 9% of women have tried cannabis. Education levels also affected usage rates, with 14% of those with a four-year degree or less and just 5% of those with postgraduate education saying they use marijuana. On the political spectrum, 22% of liberals, 15% of Democrats, 6% of conservatives and 7% of Republicans reported using cannabis regularly.

These statistics regarding the number of Americans who have ever used cannabis suggest that marijuana companies such as Flora Growth Corp. (NASDAQ: FLGC) can look forward to even better years ahead given that attitudes to marijuana are changing fast and federal legalization may not be far off.

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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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Closes Investment in Hoshi, Strengthens Gateway to European Market

Flora Growth Corp. (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has closed the previously announced € 2M (two-million Euros) investment in Hoshi International Inc., while also increasing its fully diluted ownership in Hoshi through a securities swap. In addition, the companies have agreed to strengthen the terms of Flora Growth’s investment in Hoshi pursuant to a binding memorandum of agreement. “The Hoshi team has developed a strong presence in Europe, and our high-quality, low-cost, medical-grade cannabis products and well-known global brands give both our companies a competitive advantage in one of the fastest growing cannabis markets in the world. We are excited to increase our alignment with the Hoshi management team and believe the partnership will be much greater in scope than only using their Portugal and Malta facilities as a European importation gateway for our Colombian cannabis flower and derivatives,” said Luis Merchan, president and CEO of Flora. “Regulatory barriers and the technical requirements necessary to successfully navigate the European cannabis market should not be underestimated. We feel extremely pleased with the experience and expertise that the Hoshi team brings in order for us to quickly get our products to market. With the recent rule changes in Colombia allowing the export of THC and CBD flower, we are looking forward to bringing our premium Colombian flower and derivative products to established markets where there is already significant demand, growth, and the opportunity to generate recurring high-margin sales.”

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

About Flora Growth Corp.

Flora is a cannabis company that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below-market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive. Visit www.FloraGrowth.ca or follow @floragrowthcorp on social 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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CannabisNewsBreaks – Why Flora Growth Corp. (NASDAQ: FLGC) Is ‘One to Watch’

Flora Growth Corp. (NASDAQ: FLGC), an internationally focused cannabis brand builder, boasts a portfolio that spans several verticals, including pharmaceuticals, textiles, cosmetics, and food and beverage — each with a thoughtful brand designed to resonate with its intended end customer. From Flora Lab SAS and Flora Beauty to KASA Wholefoods and Hemp Textiles & Co., each of its brands prioritizes natural ingredients and value-chain sustainability, consistent with its mission. Though the company is currently organically growing market share for its existing brand portfolio, it is also seeking revenue-generating acquisitions that offer an accretive distribution network to amplify growth. As such, a recent article reads, “Flora Growth is targeting transactions to complete the supply chain via key infrastructure to enhance its global distribution with the aim to compete on low-cost, high-quality inputs paired with premium brands that create business lines with robust margins.” To date, Flora has announced two major transactions: the acquisition of Koch & Gsell and investment in Hoshi International. “Key to Flora Growth’s expansion efforts is its cultivation strategy. The company’s Cosechemos farm, located in Bucaramanga, Columbia, is currently licensed to cultivate 247 acres of cannabis. Flora Growth is uniquely positioned to capitalize on Columbia’s favorable growing conditions, low-cost infrastructure, and affordable local workforce as it looks to ramp up its cultivation efforts moving forward.”

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

About Flora Growth Corp.

Flora is a cannabis company that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below-market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive. Visit www.FloraGrowth.ca or follow @floragrowthcorp on social 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.

To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Releases H1 2021 Financial and Operational Report, Guidance for H2

Flora Growth (NASDAQ: FLGC), an all-outdoor cultivator and manufacturer of cannabis-derived products and brands, has reported financial and operating results for the six-month period ending June 30, 2021. Highlights of the report include revenue of more than $2 million with an estimated unaudited gross profit of 60% as compared to revenues of  approximately $100,000 for 2020, operating expenses of $6 million, and a cash balance of approximately $19 million with minimal debt. In addition, an operational highlight for the company included the signing of a major distribution deal with a significant Colombian food distributor Flora Growth expects to generate more than $10 million annually in revenue as well as add an additional 130,000 distribution points across 38 cities in Colombia. FLGC also noted an H2 revenue guidance of $9 to $11 million, which does not include proposed transactions of Koch & Gsell and Vessel Brand or recent changes in Colombian cannabis law that now permits the export of dried flower. “The first half of our fiscal year is highlighted by a number of tremendous accomplishments by our team despite challenges related to the global pandemic,” said Flora Growth president and CEO Luis Merchan. “Management believes each of our divisions gained significant traction relative to where we started the year as we execute on the strategic growth plan we laid out in December 2020, positioning shareholders for future success. At the end of last year, Flora was private, largely prerevenue, and focused primarily in Latin America; during the past six months, Flora completed its IPO on the NASDAQ, while increasing its global distribution, revenue, and expanding its premium portfolio of global cannabis brands and products. . . . We made a number of strategic hires and appointments in order to form a robust, highly experienced leadership team, while simultaneously putting our capital to work on an attractive risk-adjusted basis. We announced our intent to complete multiple strategic investments and acquisitions, entered into several international sales agreements for our cannabis flower and derivatives, and significantly expanded distribution and sales with our downstream, premium cannabis CPG brands and products in the pharmaceutical, natural wellness, cosmetics, food and beverage, and hemp textile segments. Going forward, we are excited about the strategic opportunities for incremental growth as we look to leverage our globally recognized house of brands and products into new markets and categories around the world, particularly throughout the Americas, EU, and Australia.”

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

About Flora Growth Corp.

Flora Growth is a cannabis company that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below-market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive. For more information about the company, please visit www.FloraGrowth.ca.

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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420 with CNW — What’s Driving the Renewed Interest in Hemp?

Hemp is a cannabis sativa plant species that has long been cultivated for industrial use. Unlike marijuana, it contains low levels of THC, which is the main psychoactive ingredient in marijuana that induces a high.

Hemp is used in many products and materials. For instance, hemp is used in textiles to keep knees in jeans from wearing out because it is stronger than cotton. Some claim that the plant is also stronger than steel, which could explain why electric vehicle and car manufacturers use it to reinforce some vehicle components, such as door panels. A good example of this would be BMW, which uses hemp-based fibers to strengthen its car paneling. Henry Ford also utilized hemp in his car designs.

The plant is also biodegradable and can be used to solve the lumber crisis, as hemp-based materials are more affordable in comparison with wood. Hemp is also more readily available because the plant is harvested annually.

Wood products manufactured from hemp are also said to be more solid and beautiful than products made from timber. Additionally, hemp is used in designing wood paneling and hardwood floors, which saves contractors money in every project and produces a superior product.

Hemp is also pest free and low dust as well as mold, fire and rot resistant. This, among many other reasons, helps explain the growing interest in hemp. However, there are issues that plague this burgeoning industry.

The main barrier is the lack of processing capacity in various regions across the country, which makes it harder for hemp cultivators to ready their harvest for market. At the moment, most growers and farmers have to hang-dry their hemp by hand, which requires expensive and limited labor; harvesting also requires a lot of time and space. This whole harvesting process is also weather sensitive, and growers may have a hard time finding a buyer even after the final product is ready.

This is why in most scenarios, growers have to deal with their buyers directly, which may not always be ideal for a farmer because the hemp infrastructure and supply chain isn’t as developed as the chain for other agricultural crops, such as soybeans or corn.

Some companies have noticed these gaps in the market and are working towards making it easier for farmers to process their product, find buyers and distribute hemp without the hassle. This is in addition to finding ways to make use of every single part of the hemp plant, which will reduce waste. This is what Flora Growth Corp. (NASDAQ: FLGC) is doing by making hemp textiles.

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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