Flora Growth Corp. (NASDAQ: FLGC) is building a 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.
The company operates one of the largest outdoor cultivation facilities in the world with an aim of marketing a higher-quality premium product at below-market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, the company leverages natural, cost-effective cultivation practices to supply cannabis and cannabis derivatives to wholesale buyers
and its diverse business divisions.
Founded in Canada, Flora moved its headquarters to Miami in late 2021 as the company expanded its reach across the globe. Its base of cultivation operations are in Colombia, where it has built an extensive distribution network that includes Colombia’s largest distributors, while the recently acquired Vessel Brand team is based in Carlsbad, California.
Currently, Flora is organically growing market share across its three major pillars – wholesale cannabis, CPG cannabis brands, and pharmaceutical cannabis – while seeking revenue-generating acquisitions that offer human-capital expertise and an accretive distribution network to amplify revenue growth.
One of the core and most strategic aspects of Flora’s business model is Cosechemos, the company’s 247-acre cultivation facility in Colombia. Given Colombia’s ideal climate, Flora’s production cost is approximately $0.06/gram, compared to production costs of $1/gram or more in North America and other parts of the world.
Not only can Flora fully supply cannabis and its derivatives to its internal brands and divisions; it can do it at a cost that is hard to compete with and at the world’s highest quality standards.
Flora’s cultivation is certified GACP, which means the company’s flower can be used within medical markets globally. Flora also just completed a state-of-the-art EU-GMP compliant extraction facility at Cosechemos, throwing open the door to a significant revenue opportunity in the $16.47 billion global medical cannabis market. Sales are expected to start ramping up in
early 2022 out of this facility.
In addition, the Colombian government recently overhauled cannabis legislation, opening the cannabis market by allowing the export and domestic consumption of dried flower and cannabis ingestibles.
- Flora Growth operates one of the largest outdoor cannabis cultivation facilities in the world with an aim of marketing a higher-quality premium product at below-market prices.
- Flora moved its headquarters to Miami in late 2021.
- Flora is organically growing market share across its three major pillars – wholesale cannabis, CPG cannabis brands, and pharmaceutical cannabis.
- In November 2021, the company entered the rapidly growing U.S. CBD beverage market by signing a licensing agreement with luxury brand Tonino Lamborghini.
- Flora recently acquired Vessel Brand Inc., the dominant brand in luxury cannabis consumer technology.
- The company closed out 2021 by announcing a 2022 revenue guidance projection of $35-45 million.