Flora Growth Corp. - Common Stock (FLGC)

Flora (NASDAQFLGC) has closed a registered direct offering to institutional investors for the aggregate purchase and sale of approximately $3.6 million of Common Shares, each at a price of $1.25. Flora announced approximately $3.6 million in expected aggregate gross proceeds from the offering, of which it intends to use the net, together with existing cash, for general corporate purposes and working capital. Aegis Capital Corp. acted as exclusive placement agent for the offering. Dorsey & Whitney LLP acted as counsel to the company, and Kaufman & Canoles P.C. acted as counsel to Aegis Capital Corp.

Flora (NASDAQFLGC) announced that its THC-infused beverage brand, Melo, will be available in store in select states beginning Friday Dec. 13, 2024. The beverage is poised to reach a broader audience with imminent placement in the retail networks of Total Wines & More (“Total”), one of the most recognized retailers of innovative and premium alcoholic and non-alcoholic products in the U.S.

Flora (NASDAQFLGC) announced that its THC-infused beverage brand, Melo, will be available in store in select states beginning Friday Dec. 13, 2024. The beverage is poised to reach a broader audience with imminent placement in the retail networks of Total Wines & More (“Total”), one of the most recognized retailers of innovative and premium alcoholic and non-alcoholic products in the U.S.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, is partnering with Canopy Growth Corp. NASDAQ: CGCNASDAQCGC)

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, has released a statement regarding the German government’s recent approval of new legislation designed to liberalizing the cultivation of industrial hemp. According to the announcement, the updated regulations, which were passed with wide support, were introduced by Cem Özdemir, Germany’s minister of Food and Agriculture. The legislation removes a restrictive “abuse clause” and oulines a more streamlined path for industrial hemp producers. The company is currently working with local partners as it works toward a smooth and compliant entry into the German cannabinoid market.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, today announced a partnership with Flowzz.com. Flowzz.com, a dynamic e-commerce platform distributing cannabis products, accessories and wellness solutions across Europe, is one of the most popular online cannabis marketplaces in Germany. This cooperation agreement will see the establishment of a dedicated Flora e-commerce store on the Flowzz Webshop, with Flora handling fulfillment and Flowzz overseeing the creation, maintenance and marketing of the Flora Flowzz page. The partnership will enable Flora to showcase its comprehensive product line on the Flowzz platform, including Vessel products, existing shop items, cannabis strains, and cannabis flowers.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, today announced that Love Hemp’s range of functional products, oil sprays, chocolate balls, and 10-pack gummies has been added to its e-commerce platforms. Love Hemp, a U.K.-based provider of high-quality CBD and wellness products, is known for its innovative formulations and commitment to high-quality wellness products. The newly added products expand Flora’s product offering and complement its current portfolio without competing with JustCBD’s existing offerings.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, has appointed Captain Hooter, a globally recognized cannabis connoisseur, as a special advisor to the company. According to the announcement, Hooter brings more than 30 years of experience to his new responsibilities, which include enhancing Flora’s product development, brand positioning and market-expansion strategies. The company also noted that it plans to launch Captain Hooter-branded products in the future.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, today announced entry into an agreement with Nordic Tower AB, a distributor of and online marketer of smoke products, as part of its ongoing expansion into the European market. Under the partnership, Nordic Tower will become the exclusive distributor of Flora’s Vessel Brand throughout Denmark, Finland, Iceland, Norway and Sweden, ensuring a strong and effective entry into the Nordic region. The agreement positions Flora to meet the growing demand for cannabis accessories in the European market.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, today announced entry into an agreement with Nordic Tower AB, a distributor of and online marketer of smoke products, as part of its ongoing expansion into the European market. Under the partnership, Nordic Tower will become the exclusive distributor of Flora’s Vessel Brand throughout Denmark, Finland, Iceland, Norway and Sweden, ensuring a strong and effective entry into the Nordic region. The agreement positions Flora to meet the growing demand for cannabis accessories in the European market.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, participated in the recent U.S. Hemp Roundtable’s advocacy meetings, held in Washington, DC. The meetings were designed to advance legislation to support the hemp industry and to facilitate key discussions with lawmakers as well as health and agriculture staffers from various congressional offices. Flora Growth chair and CEO Clifford Starke also serves as chair of the U.S. Hemp Roundtable, which is a coalition of companies and organizations committed to ensuring the long-term viability of the hemp industry in the United States.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, has entered an exclusive distribution deal with Canapuff, the leading provider of cannabinoid consumer products in the Czech Republic. According to the agreement, which represents Flora Growth’s further expansion of its European footprint, Canapuff will oversee distribution of FLGC’s full range of Vessel products in one of central Europe’s most progressive market. Vessel products include the Core and Compass series of vaporizers, the Helix water pipe and the popular Rise accessory line.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, today announced that it has integrated Sezzle’s “by now, pay later” (“BNPL”) financing option into its U.S. e-commerce platforms for Vessel and JustCBD. The integration makes Flora’s products more accessible to even more buyers.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, has entered a strategic supply agreement with Blossom Genetics. The agreement outlines plans to bring Colombian medical cannabis to the German market. The collaboration will specifically include Chemmy Jones and Northern Lights, two highly sought-after exotic strains. According to the announcement, the agreement supports Flora Growth’s commitment to meet Germany’s growing demand for high-quality medical cannabis; the country legalized the substance earlier this year.

Flora (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, today announced that its CEO, Clifford Starke, has been appointed to the Board of Directors of HoshiCap, a subsidiary of Hoshi International. In 2021, Flora secured a 10% ownership in Hoshi following a $2.4 million equity investment. According to the announcement, Starke’s wealth of experience in global cannabis operations, as well as his track record building and scaling cannabis companies, will be particularly helpful for HoshiCap as it continues to move towards licensure at its world-class advanced-stage cannabis cultivation facility project in Portugal.

Flora (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, yesterday announced key shareholder approvals given at the August 14, 2024, annual meeting of shareholders. The shareholders approved the December 15, 2023, issuance of 1,028,665 stock appreciation rights (“ASR”) and the August 14, 2024, issuance of 575,319 SARs. The SARs have been issued to Clifford Starke. According to the announcement, the SARs vest in 12 equal installments (subject to Flora’s share price criteria), have a ten-year term, and a post-termination exercise price of one year.

Flora Growth (NASDAQFLGC) announced on Thursday morning that it has appointed Harold Wolkin as an independent director, who will also serve as Chair of the Audit Committee and member of all the company’s committees. Wolkin, a seasoned financial expert with over 30 years of experience in investment banking and governance roles, brings his expertise from leadership positions at BMO Capital Markets and Dundee Capital Markets. Concurrently, Clifford Starke, Flora Growth’s CEO, has been named Chairman of the Board. Together, they aim to enhance Flora’s financial strategy and governance as the company continues its global expansion in the cannabis industry.

Flora (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, today announced the unveiling of its new corporate branding, logo and website. According to the announcement, the new branding initiative marks an exciting step forward in the company’s continued growth and evolution. It also shows Flora’s commitment to offering high-quality, premium products as well as its dedication to innovation.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, is reporting on its 2024 Annual and Special Meeting of Shareholders. The meeting. According to the announcement, shareholders voted on and approved all five proposals on the agenda. Proposals included the election of four directors to the company’s board of directors; the reappointment of Davidson & Company LLP, an independent registered public accounting firm, as the company auditors; amending FLGC’s Incentive Compensation Plan to increase the issuable number of shares; granting stock appreciation rights to the company’s CEO and CFO; and issuing 635,363 shares in accordance with NASDAQ guidelines to acquire the minority interest of TruHC Pharma GmbH. Directors who were elected to the board included Clifford Starke, Kevin Taylor, Edward Woo and Brendan Cahill.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, is reporting on its financial and operating results for the three- and six-month ended June 30, 2024. “In the second quarter of 2024, we at Flora, demonstrated an aptitude to make accretive acquisitions and form strategic partnerships to capitalize on the most robust market trends,” said Flora Growth CEO Clifford Starke in the press release. “In Germany, we acquired TruHC Pharma GmbH in response to the descheduling of cannabis, the reforms surrounding cultivation for personal use, the establishment of cannabis social clubs, and the removal of cannabis from the list of prohibited substances in the Narcotics Act. In the United States, we entered a joint venture with Althea Group Holdings to capitalize on the rapid growth in the beverages market. In Australia, we acquired Australian Vaporizers to expand our e-commerce foothold and Vessel’s reach. Our operating expenses and cash flows used in operating activities have decreased notably across the board compared to the prior period. We ended the quarter with cash of $6.1 million and set the stage for a wide array of financing alternatives to further fuel our business plan.”

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, is “proudly” celebrating National CBD Day. In a statement recognizing the day, which is dedicated to recognizing the benefits and rapid growth of the CBD industry in the United States and beyond, the company noted that “National CBD Day not only celebrates the therapeutic benefits of cannabidiol (‘CBD’) but also serves as a reminder of the political strides made in recent years.”

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, through its JustCBD brand, is now trading its common shares on the Frankfurt Stock Exchange (“FSE”) under the symbol 7301. According to the announcement, the FSE is the world’s third largest stock organized exchange-trading market, behind U.S.-based NASDAQ and the New York Stock Exchange (“NYSE”), based on terms of turnover and dealings with securities. The company noted that the listing should increase its trading liquidity and facilitate investment in Flora by European investors.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, through its JustCBD brand, has unveiled two new products: JustCBD+ Calm Gaba & L-Theanine Mixed Berry Gummies and JustCBD+ Sleep Magnesium and Melatonin Raspberry Gummies. These new gummy products are formulated to support stress management, promote relaxation and enhance sleep quality. Specifically, the JustCBD+ Calm Gaba & L-Theanine Mixed Berry Gummies are renowned for their calming properties while the JustCBD+ Sleep Magnesium & Melatonin Raspberry Gummies are designed to promote a restful night’s sleep.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, has entered into and closed on a share purchase agreement; the agreement is to acquire all issued and outstanding shares of Australian Vaporizers Pty Limited in exchange for 550,000 Flora common shares. According to the announcement, the Flora shares are valued at $0.7 million based on the closing price of the company’s common shares on June 3, 2024. The transaction closed on June 4, 2024. Founded in 2010, Australian Vaporizers has built a reputation for being one of the largest online retailers of vaporizers, hardware and accessories in Australia. Consumers recognize the company as an online expert for aromatherapy products, specializing in dry-herb vaporizers. The company has been providing vapes, accessories and knowledge to enthusiasts and newcomers alike, with recent reports indicating Australian Vaporizers sold more than 92,000 units to an estimated 30,000 active customers through business-to-business and direct-to-consumer channels. “In addition to quickly improving the company’s bottom line, Australian Vaporizers has the potential to drive synergies with Flora’s existing portfolio of brands, including selling Vessel Brand products in Australia, which is Flora’s fastest-growing segment,” said Flora Growth CEO Clifford Starke in the press release.

Flora Growth (NASDAQFLGC), a consumer-packaged goods leader and pharmaceutical distributor, has entered into and closed on a share purchase agreement; the agreement is to acquire all issued and outstanding shares of Australian Vaporizers Pty Limited in exchange for 550,000 Flora common shares. According to the announcement, the Flora shares are valued at $0.7 million based on the closing price of the company’s common shares on June 3, 2024. The transaction closed on June 4, 2024. Founded in 2010, Australian Vaporizers has built a reputation for being one of the largest online retailers of vaporizers, hardware and accessories in Australia. Consumers recognize the company as an online expert for aromatherapy products, specializing in dry-herb vaporizers. The company has been providing vapes, accessories and knowledge to enthusiasts and newcomers alike, with recent reports indicating Australian Vaporizers sold more than 92,000 units to an estimated 30,000 active customers through business-to-business and direct-to-consumer channels. “In addition to quickly improving the company’s bottom line, Australian Vaporizers has the potential to drive synergies with Flora’s existing portfolio of brands, including selling Vessel Brand products in Australia, which is Flora’s fastest-growing segment,” said Flora Growth CEO Clifford Starke in the press release.