CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Announces Webcast to Discuss M&A, International Markets

Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has scheduled an analyst call for Oct. 26, 2022, at 2 p.m. EST. According to the announcement, the call will focus on the company’s recent M&A activity as well as growth opportunities in the international space. Leadership from Flora Growth, along with Franchise Global Health Inc., will be on the call to discuss the recent definitive agreement that two companies have signed regarding acquisition; discussion will also center on global opportunities within the cannabis industry. Through its subsidiaries, Franchise Global Health is a multinational operator in the medical cannabis and pharmaceutical industries, with principal operations in Germany along with operations, assets, strategic partnerships and investments internationally. Flora Growth encourages analysts to attend the conference call or live webcast, which will also include a Q&A session. A replay of the event will be available on the company’s website following the call.

To access the event, visit https://cnw.fm/mBies

To view the full press release, visit https://cnw.fm/EHA7B  

About Flora Growth Corp.

Flora Growth 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. 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 — UCLA Scientists Close to Finalizing Marijuana Breathalyzer

New research by scientists at UCLA has developed a cannabinoid fuel cell prototype that can detect THC, the compound responsible for inducing a high when marijuana is consumed, in a person’s breath. ElectraTect, a UCLA startup, is testing the device, which it believes offers a foundation for the development of a cannabis breath analyzer that is similar to the breathalyzers used to test for alcohol in an individual’s breath. The lab device has been designed to detect the presence of THC and measure its concentration in a solution.

The researchers reported their findings in the “Organic Letters” journal. They stated that this technology could offer an accurate gauge of how much THC was present in an individual’s system, in comparison to current methods. They also explained that using saliva, urine or blood to test for THC presence could produce skewed results, especially since this psychoactive compound could remain in an individual’s bodily fluids for weeks after they had consumed cannabis.

In their report, the researchers stated that there existed a need for a fair forensic tool which could detect THC in a short window of impairment. They explained that this would be welcome, especially in countries and states where cannabis had been legalized or decriminalized, because traditional methods could lead to prosecution, imprisonment, loss of employment or fines, even if the person in question wasn’t intoxicated when they were tested.

The use of marijuana has been linked to motor and cognitive impairment, with certain nations, including Canada, establishing a THC cutoff for drivers based on the level of concentration of the psychoactive compound in their blood.

The laboratory device works in a way that is similar to alcohol breathalyzers. The sample collected in the solution undergoes oxidation, which strips hydrogen molecules from THC to generate an electric current that can be measured. The electric current’s strength directly corresponds to how much of the psychoactive compound is present in the collected sample. The stronger the current is, the higher the THC concentration.

The oxidation process used in the device was investigated by the scientists in research that was also published in 2020 in the “Organic Letters” journal.

The researchers are now focused on findings ways to make the device smaller so it can be used for inexpensive and rapid cannabis testing. They hope that future devices will be able to test for both THC and alcohol, which will help reduce impaired driving significantly. Reliable technologies that can prevent cannabis users from being wrongfully categorized as impaired are likely to gain widespread support from the industry as well as companies such as Flora Growth Corp. (NASDAQ: FLGC) since it is in everyone’s interest to ensure there’s responsible use of marijuana so that public safety is protected.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Enters into Acquisition Agreement with German-Based Pharmaceutical, Medical Cannabis Distributor

Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has inked a definitive agreement with Franchise Global Health Inc. (TSX.V: FGH), a multinational operator in the medical cannabis and pharmaceutical industry. The agreement outlines Flora Growth’s plans to acquire 100% of Franchise Global Health, which has principal operations in Germany, in an all-stock transaction. According to the agreement, the acquisition gives FLGC a foothold in German’s medical cannabis space because FGH’s German businesses service an estimated 1,200 pharmacies in the country; FGH also provides noncannabis medical products to 28 additional countries. In the first six months of this year, FGH reported revenue of approximately C$30.1 million; total aggregated reported revenues for both companies for the period ended June 30, 2022, reached $38.6 millionThe agreement calls for Flora Growth’s indirect acquisition of FGH’s subsidiaries, including Phatebo GmbH, a leading distributor of export pharmaceuticals and medical cannabis products to the European Union, and ACA Müller ADAG Pharma Vertriebs GmbH, which holds the first German medical cannabis import and distribution license ever granted. “Through this proposed acquisition, we are connecting our commercial infrastructure and medical cannabis product portfolio to the German and EU medical markets, while gaining direct access to European pharmaceutical distributions,” said Flora Growth chair and CEO Luis Merchan in the press release. “We believe Franchise will significantly increase our commercial international revenue and provide essential distribution to German pharmacies and a growing wholesale market.”

To view the full press release, visit https://cnw.fm/Hjoj7

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands that delivers the most compelling customer experiences in the world, one community at a time. 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. 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 844-397-5787 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

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420 with CNW — Senator Believes Marijuana Reforms Can Still Be Passed During Lame-Duck Congressional Session

Senator Cory Booker has revealed that there is a chance that some marijuana policy reforms, such as social justice and cannabis banking reforms, can still be approved by Congress during the session coming just after the November elections and before a new House takes office. He was quick to add that such an opportunity may be harder to get in case Republicans wrest control of either the House of Representatives or Senate out of the control of the Democrats.

The senator made these remarks during an interview with a New Jersey-based media outlet called NJ.com. Booker said that Congressional leadership was conducting active negotiations regarding a series of marijuana policy change proposals before the recess paving way for midterm elections starts.

Booker was confident that during the sittings, often called lame-duck sessions, there is a high possibility that bipartisan support will galvanize into action in favor of passing reform before a new Congress takes office. This is because supporters on both sides of the political aisle are aware that passing cannabis reforms is likely to become harder once the elections bring changes to the dominant party in either legislative chamber.

In the interview, Booker expressed frustration that the legalization of cannabis at state level hasn’t yielded the democratizing effect hoped for in the industry. He cited the small number of minority-owned cannabis companies in New Jersey as an example of the lack of equity in this nascent industry. He added that there was an urgent need for the U.S. Senate to take steps and enact reforms that catered to different issues, such as bringing accessibility to the banking system, implementing restorative justice and channeling tax dollars into creating employment opportunities as well as combating the wave of addiction sweeping across the country.

Regarding President Joseph Biden’s recent directives on marijuana, Booker expressed happiness about the decisions and said that those decisions were a fulfillment of several out-of-camera discussions he and the president had had back when President Biden was campaigning for the top office in the land. While Booker was initially opposed to passing any cannabis banking reforms before comprehensive social justice changes are made, the legislator eventually signaled a change of heart and indicated that he could consider supporting banking reform if some social justice provisions were added to the initiative.

The cannabis industry and entities such as Flora Growth Corp. (NASDAQ: FLGC) await any changes that may come out of Capitol Hill during the lame-duck session and beyond. Hopefully, those changes bring the long-awaited policy reforms that can enable the industry to grow while addressing concerns about public health and access by minors.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

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CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Anticipates Leadership Position in Alternative Cannabinoid Market Segment

Flora Growth Corp. (NASDAQ: FLGC), a global cannabis cultivator, product manufacturer and distributor, is measuring its success in rapidly rising revenues brought on by strategic acquisitions and the expanding international movement of its brands. “The company recently reported a 604% increase YoY in its H1 revenues to about $15 million, which was also a 117% increase over the previous half-year financial report, and is anticipating new momentum from the recent acquisition of the No Cap Hemp Co. brand by Flora’s wholly owned subsidiary Just Brands LLC. The No Cap acquisition is expected to add some 75 SKUs to Flora’s product portfolio plus the ‘No Cap’ and ‘Moonblunt’ trademarks… Flora Growth Chairman and CEO Luis Merchan anticipates that the acquisition of No Cap’s brands will ultimately position Flora as the leader in the alternative cannabinoid market segment and that No Cap’s infusion technology will boost Flora Labs’ manufacturing capabilities,” a recent article reads. “This transaction will allow Flora to immediately benefit from a profitable, cash flow positive and growing business. We look forward to increasing our product offering through this transaction while broadening our sales team in the process,” Merchan is quoted as saying.

To view the full article, visit https://cnw.fm/X0bj7

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.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (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

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CannabisNewsWire is part of the InvestorBrandNetwork.

Flora Growth Corp. (NASDAQ: FLGC) Building Portfolio of Brands that Resonates with End Consumers as It Targets Margins and Profitability

  • Lexaria Bioscience, a global innovator in drug delivery technology, has developed a potential treatment for hypertension using the company’s patented DehydraTECH(TM) platform, now shown in several human studies to reduce blood pressure and arterial stiffness
  • Lexaria’s antihypertensive drug development program comes at a time when researchers are documenting poor control of hypertension among both men and women, partly due to suboptimal adherence to existing antihypertension medication
  • Reasons advanced for the suboptimal adherence include lack of awareness or treatment, increased number of prescribed medications, and major adverse effects of the prescribed drugs
  • Lexaria has so far shown that its DehydraTECH-CBD is not only effective but also well tolerated and is planning to undertake registered clinical trials in pursuit of the FDA’s approval of the drug candidate

A recent research article published in the Journal of the American Heart Association (“AHA”) unearths data that suggests poorly controlled hypertension among both men and women (https://cnw.fm/q4IM3), a problem global innovator Lexaria Bioscience (NASDAQ: LEXX) is keen on solving.

The researchers, who sought to describe gender-differential disease patterns and results of more than 20.6 million emergency department encounters in the United States from 2016 to 2018, made several observations. Firstly, most ED cardiovascular (“CVD”) visits in the sample were due to hypertensive diseases. Secondly, essential hypertension, which is high blood pressure not resulting from other maladies, was the most common CVD diagnosis in women and second most common in men (https://cnw.fm/5powB).

Moreover, the article notes, “Attendances for essential hypertension were more common in women, which may reflect higher rate of preexisting hypertension in women (76.6% vs. 74.4%). These findings may also reflect poorer control of hypertension or poorer access to primary care in women… Further supporting these suppositions, in our sample, although men were less likely to present to the ED with essential hypertension, they were slightly more likely to present with long-term consequences of hypertension-related end-organ damage (hypertensive heart or kidney disease) and were more likely to die following such presentations, suggesting longer duration of exposure to poorly controlled hypertension than women.”

This recent study is one of the latest in a series of research works on uncontrolled hypertension that date back to the 20th century. In a scholarly article published in 2005 in the AHA Journal, for example, researchers observed a high prevalence of uncontrolled hypertension that suggested a significant number of CVD events could be prevented by improved blood pressure control.

“The benefits of pharmacological treatment for [hypertensive] patients are well established. Meta-analysis of randomized placebo-controlled trials indicate that antihypertensive therapy reduces the risk of stroke by approximately 30%, coronary heart disease by 10-20%, congestive heart failure by 40-50%, and total mortality by 10%,” the 2005 research article continues (https://cnw.fm/HcLPN). 

Several other studies have put forth reasons that are thought to cause suboptimal adherence, leading to poor control. These reasons include the lack of awareness or treatment, an increased number of antihypertensive drugs, and major adverse effects, just to mention a few (https://cnw.fm/gJfBD). As this happens, hypertension remains the leading cause of noncommunicable disease deaths globally, raising concerns that have caught the attention of Lexaria, a company developing a potential hypertension treatment with little to no side effects.

The treatment is created by processing cannabidiol (“CBD”) using the company’s patented DehydraTECH(TM) drug delivery technology, which has been shown to substantially increase the bioavailability of active pharmaceutical ingredients (“APIs”). In human studies, Lexaria has shown that DehydraTECH-CBD not only increases the amount of CBD in the blood by as much as 317% but also reduces blood pressure and arterial stiffness.

To put these findings into a more comprehensive context, the company’s 24-person human clinical study, christened HYPER-H21-1, evidenced a rapid and sustained drop in blood pressure. The second study, HYPER-H21-2, a 16-person HCS, showed up to a 23% reduction in overnight blood pressure as well as reduced arterial stiffness, while the third study, HYPER-H21-3, evidenced attenuated pulmonary artery systolic pressure. What the three studies had in common was that no serious adverse events were reported, suggesting that DehydraTECH-CBD is well tolerated (https://cnw.fm/hUxCf).

To further confirm this fact, Lexaria is working toward a planned Phase I(b) trial, expected to commence following the filing of an Investigational New Drug (“IND”) application and the fulfillment of other regulatory requirements. According to the company, the IND-enabling program is currently underway and is expected to be completed later this year or early next year (https://cnw.fm/suz4F).

Lexaria hopes to prove, through registered clinical trials, that its DehydraTECH-CBD formulation has an acceptable safety and tolerability profile and that it is effective against hypertension. The proof could potentially influence the registration of DehydraTECH-CBD as the second FDA-approved CBD drug, offering a reprieve to millions of hypertension patients who do not have their condition under control because they receive numerous antihypertensive drugs or are unwilling to suffer through these medications’ adverse side effects.

For more information, visit the company’s website at www.LexariaBioscience.com.

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

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 instant SMS alerts, 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

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420 with CNW — Governors Across the US Weigh in on Biden’s Call for Mass Marijuana Pardons

President Joseph Biden recently announced mass pardons for people convicted in federal courts on minor marijuana possession charges. While making that announcement, he called on governors across the nation to emulate the federal action and replicate the clemency at state level. His call to action has elicited mixed reactions, and we capture the highlights below.

Colorado governor Jared Polis revealed that the U.S. president had finally decided to walk the road that Colorado took two years earlier. He said that the action taken by the president would remove any roadblocks that were in the lives of the people affected by the discriminative implementation of prohibition laws.

Ned Lamont, the governor of Connecticut, was also pleased by the announcement, calling for expunging records and pardoning those in state jails for possessing small amounts of cannabis. Lamont sees the federal action as long overdue. He reaffirmed his belief that the law he enacted to automatically erase the criminal records of people blighted by minor marijuana offenses was the right thing to do.

Nikki Fried, who made an unsuccessful bid to win the gubernatorial race nomination in Florida and a long-term avid supporter of drug-policy reform, called on Governor Ron DeSantis to follow in President Biden’s footsteps and clear criminal records and support the rebuilding of the lives of people hurt by the futile war on drugs.

In Georgia, Stacey Abrams, a DP nominee for the gubernatorial race, applauded the action taken by the president and vowed to see to it that marijuana is decriminalized and those with criminal records on minor charges have those records expunged by the state.

However, not everyone sees sunshine and roses in the call made by the president. For example, Brad Little, the governor of Idaho, made a scathing attack against the marijuana announcements made by Biden. Little called the action something calculated “for show” and added that it appeared Biden didn’t know that those in jail on cannabis offenses invariably have other charges successfully prosecuted against them as well.

According to a spokesperson, Montana Governor Greg Gianforte has no intention to heed Biden’s call and grant blanket clemency to marijuana convicts or expunge records of ex-convicts.

Generally, there is a clear divide with Democratic governors supporting the president’s call while Republican governors are opposed to taking this social-justice step. It is only Republican governors in states with legal marijuana markets that see merit in expunging records and pardoning those in jail on simple possession charges.

It remains to be seen how those who follow the lead of Biden will follow that up with further reforms that ease the environment in which cannabis companies such as Flora Growth Corp. (NASDAQ: FLGC) operate.

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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Changing Legal Landscape for Cannabis in Colombia and the U.S. Portends a New Era of Productivity for Flora Growth Corp. (NASDAQ: FLGC)

  • Colombia and the United States have both recently exhibited new openness to the possibility of decriminalizing adult recreational cannabis use through legislative change
  • Cannabis supplier Flora Growth cultivates its product at a key Colombian farm and provides it to international markets, and may see additional opportunities arise as cannabis policies advance in the two countries
  • Flora Growth recently announced completion of its first shipments of high-CBD dried cannabis flower to Switzerland and the Czech Republic, as well as CBD isolate supplied to its market in the United States
  • The company also recently reported a 604 percent YOY increase in revenues during the H1 reporting period, with a 547 percent gross profit increase during that period

Cannabis may be approaching a new watershed moment as Colombia pushes for national legalization of adult-use marijuana and the United States’ government undertakes long-anticipated discussion of whether to change the drug’s classification. 

The nearly unanimous approval of legislation to legalize and regulate adult-use cannabis by an initial committee reviewing bills in Colombia’s legislature, coupled with the president’s criticisms of decades-long prohibitionist policies and regulatory advances made by his predecessor, position the fertile country with a storied history on the front lines of the global war on drugs to become a major legal producer of cannabis and its derivatives (https://cnw.fm/LcEd8). 

In the United States, the President recently issued executive pardons to criminals convicted of marijuana possession in federal cases and asked federal health and law enforcement agencies to take a fresh look at the possibility of ending marijuana’s classification as an illicit substance, creating energy for cannabis stocks in the country (https://cnw.fm/6gRIf).

International cannabis company Flora Growth (NASDAQ: FLGC) is headquartered in Fort Lauderdale, Florida but operates its cultivation from a 100-hectare (about 247-acre) licensed farming facility in northern Colombia where it develops cannabis products and then ships them into international markets or to its GMP-certified facility in the nation’s capital for transformation into consumer ready goods. 

The company’s NASDAQ listing precludes it from participating in the U.S. domestic market for adult-use cannabis at present, where marijuana has enjoyed some approval on a state-by-state basis despite the federal prohibitions.

But the continually developing approach to recreational cannabis use in Colombia and the United States portends possible new opportunities for the company beyond its current low-cost operation supplying THC and CBD flower and derivatives to international markets and the CBD it provides to its own product supply chain. 

“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 last month after the company announced completion of its first exports to of high-CBD dried cannabis flower to Switzerland and the Czech Republic, as well as CBD isolate supplied to its market in the United States (https://cnw.fm/gszmr).

Investors have taken a wary approach to cannabis stocks amid ongoing global economic turmoil continuing beyond the immediate impact of the COVID pandemic. But financial data reported by Flora Growth indicates the company has reason for optimism that its strategic advances are taking it in the right direction. 

Flora’s most recent revenue report states that revenues increased 604 percent increase YOY during the H1 period and 117 percent of the previous half-year report (https://cnw.fm/uYeSp).

“Our gross profit increased 547 percent over that same period last year and we expect our revenues for the full year to grow between 300 and 400 percent for … 2022,” Merchan said as part of the management’s analysis of the results. “Despite (COVID-related challenges and economic uncertainty), Flora business units continue to improve their performance.” 

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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420 with CNW — Federal Labor Secretary Promises to Assist Those Pardoned for Cannabis Crimes Find Jobs

Last week, a pair of cabinet members in the Biden administration discussed the president’s new marijuana initiative. Cabinet members and legislators, as well as advocates and state officials, have widely praised President Joseph Biden for his action.

Marty Walsh, U.S. Labor Secretary, stated in an interview with Yahoo Finance that officials were working hard to make sure that individuals who received pardons for federal cannabis offenses under the decree made by President Biden weren’t hindered from employment opportunities in the future. Walsh explained that the Department of Labor was focused on ensuring that what the president said was carried out, noting that individuals of color made up a disproportionate fraction of those who had been criminalized over marijuana.

Walsh, the former mayor of Boston, had opposed the ballot measure introduced in 2016 to legalize cannabis in Massachusetts. Walsh also voted against a party plank by the Democratic National Committee that endorsed the initiative.

Last week Biden observed the workforce implications of marijuana convictions, noting that thousands of individuals who had been convicted of simple possession who may have been denied housing, educational or employment opportunities as a result of their conviction, would be granted relief under his edict. Separately, Xavier Becerra, secretary of the Department of Health and Human Services, also discussed Biden’s directive to agencies to carry out an administrative review of marijuana’s scheduling status. The health secretary stated that officials would work as fast as they could to finish the analysis, which would probably result in a recommendation to de-schedule or reschedule cannabis.

Becerra added that he’s already spoken to FDA Commissioner Robert Califf about starting the process. Becerra also stated in a tweet that he anticipated working with U.S. Attorney General Merrick Garland to answer the president’s call to action to review how cannabis was scheduled federally.

A spokesperson for the Department of Justice also stated that the department would quickly administer the president’s proclamation, which pardoned people who engaged in simple cannabis possession by restoring the civil, political and other rights of individuals convicted of this particular offense.

Further, Rahul Gupta, director of the White House Office of National Drug Control Policy, praised Biden’s decree, observing that it was clear that the currently used cannabis laws hadn’t worked and a new approach was needed.

The comments of support from agency officials show that the Biden administration is keen on following through on the reform that was announced, with roughly a month left to Election Day.

These social justice efforts are part of what the marijuana industry and entities such as Flora Growth Corp. (NASDAQ: FLGC) have longed to see being implemented so that the country can move on and heal from the adverse effects of prohibition.

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) Partnering to Expedite Exports, Increase Global Market Penetration of Colombian Cannabis Goods

Flora Growth Corp. (NASDAQ: FLGC), a global cannabis brand builder, is increasing the strengths of its supply chain, centered in its 100-hectare (about 247-acre) cultivation facility located in the heart of Colombia’s green climate, by finalizing a three-year distribution agreement with the Misak indigenous tribe’s pharmaceutical arm. “Pharma Indigena Misak Manasr Sas, referred to simply as Manasr, is the tribe’s pharmaceutical enterprise, which in 2020 became the first native community business to receive a license from the national Ministry of Justice for producing legal cannabis for medicinal and scientific use… Flora Growth will assist the tribe with regulatory advice, as well as technical and business support and market promotion for Flora Growth-branded products, particularly as the tribe enters the international supply chain,” a recent article reads. “Through this partnership, we will collaborate with the tribe on the processing and distribution of their Colombian-grown cannabis while offering Manasr a powerful platform for product distribution. In return, Flora will be able to leverage the tribe’s unique regulatory positioning to expedite exports and increase global market penetration of Colombian cannabis goods,” Flora Growth CEO and Chairman Luis Merchan is quoted as saying.

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

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.

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

For more information please visit https://www.CannabisNewsWire.com

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CannabisNewsWire is part of the InvestorBrandNetwork.