CanadianCannabisWire LimeLight of The MONTH is
 

Flora Growth Corp.
(NASDAQ: FLGC)

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.

Wholesale

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.

Investment Considerations

• 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.

Recent Coverage:
 

Flora Growth Corp.'s (NASDAQ: FLGC) Shareholders Vote in Favor of All Proposals Submitted for Approval; Elect Brandon Konigsberg to Board of Directors

July 11, 2022 10:30 AM

• Shareholders approve all proposals submitted at this year’s annual shareholders’ meeting, including board members
• Among the seven members of the Board of Directors elected, six were incumbents, making Brandon Konigsberg the newest addition to the Board
• Mr. Konigsberg will lend his years of experience, having held key leadership positions in various organizations in the country
• Luis Merchan, Flora Growth’s Chairman and CEO, noted that Mr. Konigsberg’s appointment would help the organization achieve rapid financial growth and maximize shareholder value

Annual shareholders’ meetings are usually landmark moments of shareholder democracy, offering shareholders an opportunity to participate in the company’s decisions and offer their input on resolutions brought forth by other shareholders, the Board of Directors, and company management.

On July 5, 2022, Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer, and distributor of global cannabis products and brands, held its annual shareholders’ meeting. On the agenda were four proposals for discussion:

• The re-appointment of Davidson & Company LLP as the company’s auditors
• The election of seven members of the company’s Board of Directors
• The approval of the company’s 2022 Incentive Compensation Plan
• The approval of new bylaw 1-A

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