• Flora Growth’s CEO Luis Merchan is named Chairman of the Board of Directors.
• Tim Leslie, Chairman of Flora’s Advisory Board, will join the Flora Board of Directors and audit committee.
• Changes to the Board of Directors signal the Company’s move toward becoming a U.S.-based issuer and will support Flora’s growth into new international markets.

MIAMI & TORONTO, March 17, 2022–(BUSINESS WIRE)–Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, announced today changes to its Board of Directors (the “Board”) including the appointment of CEO Luis Merchan as Chairman of the Board as well as the addition of industry veteran Tim Leslie to the Board and audit committee. Merchan has replaced Bernie Wilson as Chairman of the Board. Wilson will remain in an advisory capacity for the remainder of 2022 and will provide strategic guidance on capital markets and international expansion. The changes to the Board will further position Flora as a U.S.-based issuer and is expected to increase the Company’s access to U.S-based investment.

Flora Chairman and CEO Luis Merchan has been focused on expanding the Company’s reach within the United States and abroad. Through his leadership, Flora has moved from the development stage to a full-scale international distributor and house of brands with operations in more than 12 countries. He has been pivotal in completing recently announced M&A transactions with leading hardware manufacturer Vessel and highly regarded wellness company JustCBD, solidifying the path to rapid growth.

“I am honored that our Board has entrusted me with this role, and I believe it is a testament to what we have built together thus far,” said Flora Growth CEO and newly appointed Chairman of the Board Luis Merchan. “Our Board has been incredibly supportive to date while always ensuring business decisions are in the best interest of our shareholders – and I am looking forward to continuing to work closely with them in this role.”

A Yale Law graduate, Tim Leslie has a strong pedigree of success, working with scaling companies including his two decades at Amazon. Leslie has been Chairman of the Company’s Advisory Board since the beginning of 2022, where he has utilized his years of experience as CEO of Leafly and as an Amazon executive to help counsel Flora’s leadership team. As Flora continues its rapid, global expansion, Leslie will play a critical role in navigating this hyper-growth phase. In addition to his role as board member, Leslie will also join the Company’s audit committee.

These appointments come as former Chairman of the Board, Bernie Wilson, steps down from his role and transitions to an advisory capacity to provide Merchan and the Board with strategic counsel, leveraging his insights and tenure in capital markets. “We want to thank Bernie for his commitment to the growth of Flora during this formative time for our company and look forward to continuing to work with him as we continue to grow,” added Merchan.

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands that is designed to deliver one of 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 diverse business divisions of cosmetics, hemp textiles, and food and beverage. Visit www.floragrowth.com or follow @floragrowthcorp on social [media] for more information.

Cautionary Statement Concerning Forward-Looking Statements

This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: the size of markets for cannabis and cannabis products; the collaboration with third parties; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, or the forward-looking events discussed in this document and other statements made from time to time by us or our representatives not occurring, except as may be required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220317005405/en/

Contacts

Investor Relations:
Evan Veryard
[email protected]

Public Relations:
Cassandra Dowell
+1 (858) 264-6600
[email protected]

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

<!– (adsbygoogle = window.adsbygoogle || []).push({ google_ad_client: “ca-pub-5707738102681835”, enable_page_level_ads: true }); –>

<!– Click –>

TORONTO, Oct. 12, 2021 (GLOBE NEWSWIRE) — Silo Wellness Inc. (“Silo Wellness” or the “Company”) (CSE: SILO) (OTCQB: SILFF) (FRA: 3K70), a leading global psychedelics company, today announced the listing of its portfolio of Marley One branded mushroom products on multinational e-commerce conglomerate Amazon. Today’s Amazon listing follows the Company’s inking of over $4 million in international revenue-driving distribution deals, which cemented strong routes to market for the brand in both the U.S and the U.K within just 60 days of launch.

“Today, we’re celebrating an important milestone for Silo Wellness and for the mushroom industry at large,” said Douglas K Gordon, CEO, Silo Wellness. “From inception, our primary focus has been to broaden acceptance and support for the normalization of mushrooms and psychedelics and to make both available today, wherever possible, to help reduce trauma, enhance performance and create revenue in this burgeoning industry now. Our listing on Amazon, one of the largest e-commerce platforms in the world, takes us one step closer to that goal.”

To celebrate the launch of Marley One on Amazon and Mushroom Day on October 15, 2021, a special code “SHROOMDAY20” is available until the end of the month.

The Marley One global mushroom brand was created by Silo Wellness in collaboration with the family of legendary musician Bob Marley and launched in June 2021. Silo Wellness is also a leading facilitator of psychedelic retreats in Jamaica, a jurisdiction where the cultivation, extraction, and consumption of psilocybin mushrooms is permissible. In 2019, the Company announced proof of concept of a patent-pending psilocybin nasal spray. In addition to its market-leading mushroom products, Silo Wellness conducts ketamine-assisted retreats in Oregon and recently expanded its psychedelic offerings to introduce 5-MeO-DMT-enhanced retreats across Jamaica.

“In addition to functional mushrooms, there is a wealth of valuable research being conducted on psychedelic compounds and their various properties and benefits,” continued Mr. Gordon. “Commercializing research of this nature requires time, precision and expertise, taking years to produce social impact. However, Silo Wellness is focused on generating psychedelic revenue now – and we see the widespread adoption of functional mushrooms as a crucial first step towards that goal. We’re thrilled to leverage Amazon’s massive distribution network to help bring the wellness benefits of functional mushrooms straight to consumer doorsteps.”

Amazon will distribute Marley One mushroom products, beginning with the functional mushroom tinctures, directly to consumers across the globe. Silo Wellness also intends to add additional functional mushroom products including gummies, capsules and cosmetics.

According to Mordor Intelligence, the global functional mushroom market was valued at USD 25,415.12 million in 2020, and is estimated to register a CAGR of 8.44% during the forecast period of 2021-2026. Mordor Intelligence also notes that functional mushrooms are expected to have increased applicability beyond healthcare or pharmaceutical products over the long term, particularly in the food and beverage sector.

For more information about Silo Wellness, please visit https://www.silowellness.com/. To buy Marley One products, please visit https://marleyone.com/.

SHARES FOR DEBT

On August 11, 2021, the Company entered into a loan agreement with an arm’s length third party lender (the “Lender”) pursuant to which the Company borrowed US$250,000 for working capital and inventory growth purposes (the “Loan”). On September 16, 2021, the Company entered into a debt settlement agreement with the Lender to settle US$66,360 of the Loan in exchange for 1,500,000 Common Shares at a deemed price of C$0.056 per Common Share, representing a 20% discount to the closing price of the Common Shares on September 14, 2021 (the “Shares for Debt”). US$39,640 principal amount of the Loan remains outstanding. Completion of the Shares for Debt is subject to compliance with applicable regulations, including policies of the CSE.

ABOUT SILO WELLNESS
Silo Wellness is a growth-oriented holding company focused on functional mushroom and psychedelic opportunities that benefit from a unified ecosystem and exceptional leadership. Founded in 2018 and headquartered in Toronto, Silo Wellness has operations in Jamaica and Oregon. Silo Wellness is a publicly-traded company on the Canadian (CSE: SILO) and Frankfurt (FRA: CK70) exchanges and trading on the OTCQB Venture Market (OTCQB: SILFF).

Silo Wellness offers a diverse and growing portfolio of functional mushroom products, psychedelic wellness retreats in Jamaica and Oregon, cultivation of psychedelic mushrooms and truffles in Jamaica, development of a brick-and-mortar smart shop in Jamaica, and intellectual property, focused initially on the commercialization of its metered-dosing psilocybin nasal spray.

In March 2021, Silo Wellness announced a multi-year licensing agreement with the family of legendary musician Bob Marley for the exclusive worldwide rights to brand, market and sell a distinct product line of functional and psychedelic mushrooms. The Marley One line of functional mushrooms is available at www.marley.one.

For more information about Silo Wellness, please visit www.silowellness.com.

For further information, please contact:

Silo Wellness Media Relations:
[email protected]

Silo Wellness Investor Relations:
(778) 383-6740
[email protected]

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: sales of products on Amazon, size of the global functional mushroom market, the availability of products and the Shares for Debt. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, customer acceptance of the Company’s products, the distribution infrastructure of Amazon, the potential impact of COVID-19 and the CSE’s acceptance of the Shares for Debt. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Silo Wellness assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

California has the world’s largest cannabis market with an estimated $12 billion in annual sales. While legal cannabis sales topped $3 billion last year, the state continues to struggle to meet high expectations with logistical and other challenges.

ManifestSeven Holdings Corporation (CSE: MSVN), which recently debuted on the Canadian Securities Exchange on September 30, aspires to solve many of these problems with its innovative business model designed to connect enterprises operating across legal cannabis supply chain — from cultivator to retailer, and everyone in between — to consumers in a more uniform and familiar manner, and without all of the overhead. In essence, it’s building the ‘Amazon of Cannabis’ with service stretching from Sacramento to San Diego and extending across the value chain.

Let’s take a look at ManifestSeven’s resilient management team and how it plans to scale revenue and grow shareholder value over the coming months.

From Railroads to Fiber

ManifestSeven is often referred to as the ‘Amazon of Cannabis’, but like Amazon.com, there’s a lot more to the business than its public facing website. Amazon.com relies on an extensive distribution network that includes its own fleet of vehicles and cargo airline, as well as a network of more than 175 fulfillments centers around the world.

CEO Sturges Karban explains what investors can expect in the coming year:

ManifestSeven doesn’t have the same distribution capacity, mainly because it faces several more barriers when it comes to selling highly regulated cannabis products. Nonetheless, the company has spent the past few years building out and integrating the physical infrastructure that now supports its growing distribution services and retail businesses, including its network of distribution centers and dispensaries across the state of California—from Sacramento to San Diego.

This nascent “laying of the railroads” phase, as CEO Sturges Karban describes it — which was very focused on assembling the nuts and bolts of M7’s physical infrastructure — is increasingly ready for an upgrade into a more modern, “fiber optic” network. As the company pivots to rolling out additional services, many of which will be underpinned by technology platforms familiar to businesses and consumers alike from other industries, the sophistication and reach of the company’s distribution and retail platforms can only grow stronger and deeper; while the company is already generating growing revenue and closing in on profitability, the team plans to scale its market footprint and increase customer penetration by aggressively exploiting its 1-800-CANNABIS brand and technology assets over the coming year.

Resilient Management Team

ManifestSeven had spent three years building a resilient business model before the COVID-19 pandemic hit. Despite the impact of the pandemic, between Q1 and Q2 of 2020, the company managed to increase revenue by 25% quarter over quarter, reduce its net burn by over 70% and complete a capital raise during a period of capital starvation—a testament to its strong business model and leadership team.

Listen to CEO Sturges Karban on why MSVN is attractive to investors:

 The company’s management team is led by CEO Sturges Karban, a Harvard-educated businessman who has more than 20 years of experience across capital markets, investment banking, asset management and high-growth operations. Prior to joining the company in 2014, he co-founded Meridian Advisors, a boutique consultancy in LA, NYC and London.

Sturges is joined in the C-suite by a number of executives who share a similar background and pedigree. Urban Smedeby, the President of the company, has 30 years of experience in the global capital markets, with a principal focus on affinity industries, such as life sciences. The company’s Chief Investment Officer hails from CIM Group, California’s largest real estate private equity fund. Dilshad Kasmani, M7’s Chief Legal Officer and General Counsel, practiced at Andrews Kurth LLP and Paul Hastings LLP, before going in-house at Cardtronics plc (NASDAQ: CATM) and then American Midstream Partners LP (NYSE: AMID). In addition to this resident strategic and financial experience, the company’s C-suite includes Chief Operating Officer Pierre Rouleau, an entrepreneurial executive with repeated successes in the regulated cannabis, high-tech, and aviation industries; prior to ManifestSeven, Pierre was the Chairman and COO of cannabis dispensary operator, ShowGrow, where he helped expand that company’s retail presence into multiple locations across California and Nevada during the early days of statewide legalization, bringing to the table longstanding channel, operational, and industry relationships, experience, and expertise. 

Looking Ahead

ManifestSeven Holdings Corporation (CSE: MSVN) has built a dynamic business that expects to encounter numerous catalysts over the coming months. With plans to scale revenue through its 1-800-CANNABIS brand and technology assets, investors may want to take a closer look at the stock. On September 30, the company debuted on the Canadian Securities Exchange under the ticker symbol MSVN, making it accessible to retail traders and investors.

For more information, visit the company’s website or download their investor presentation.

Disclaimer

The above article is sponsored content. CannabisFN.com and CFN Media, have been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

“Let not your heart be troubled,” is a famous passage from John 14:1 to find comfort in troubled times, a mantra that ManifestSeven CEO Sturges Karban finds applicable for the state of the cannabis market today. Karban recently took some time to sit down with CFN Media to discuss the cannabis industry, where he sees it heading and how ManifestSeven is ignoring the market noise and building what is effectively the Amazon of the cannabis space.

This is Normal

Every nascent market goes through volatility and cycles. Think back a couple decades to the tech boom, a time when most people didn’t even understand what the internet was, much less how it was going to reshape the world. And what happened? There were some violent swings before things ironed out. We got Google, PayPal, Apple and other tech juggernauts out of it.

Presently, cryptocurrency is doing the same thing as it goes through growing pains.

There is a decisive difference between those two and the cannabis space, though. The internet and crypto were things people had never heard of when those markets started emerging. People in virtually every corner of the planet know what cannabis is. It is a plant with proven demand worldwide for thousands of years.

Karban says he’s not afraid of machinations in the cannabis evolution – which he believes are normal market cycles as businesses, consumers and lawmakers figure out how to navigate the nascent market. In his view, cannabis stocks were experiencing rapid growth and frothiness in the public markets and a pullback was inevitable. That certainly has been the case since spring, with most so-called “pot stocks” seeing their valuations at least halved.

Are you an accredited investor? Learn how to invest in ManifestSeven before it goes public 

Cases in point: Canopy Growth Corp. (NYSE: CGC)(TSX: WEED), the biggest cannabis company in the world, saw its stock price gashed by 73.8% from the end of April to a low last month before making up a little ground. Peer Aurora Cannabis (NYSE: ACB)(TSX: ACB) suffered a similar fate, with shares jettisoning 77.2% from April to November.  

Now, Karban believes we’re near the bottom of the cycle and ready for the next sustainable “hockey stick” move upward largely underpinned by fundamentals rather than mostly speculation. 

Are you an accredited investor? Learn how to invest in ManifestSeven before it goes public 

The New Standard 

Cannabis 2.0 is the colloquial term for the next generation of legal marijuana. Some may think it is about new product forms hitting shelves at dispensaries, and it is to a certain extent, but it is more about normalization of the industry. This means implementation of all the hallmarks of long-term, institutional-grade enterprises.

Simply, companies are no longer going to fly by with napkin drawings about their big plans in what is forecast to be a $66.3 billion market in the next five years. 

Karban sees companies being measured by more traditional metrics in Cannabis 2.0 as “the right type of standards and protocols” become benchmarks of the industry. This means things like corporate governance, profitability, real asset bases, enhancing the balance sheet and professional and responsible management of risks and expenses becoming top priorities. 

The next 12 months will be characterized by companies that demonstrate these qualities rising to the top, figures Karban. “The Googles, PayPals and Amazons of the [cannabis] world are starting to line up,” he said during the conversation.

Intrepid Investors

Cannabis-related stocks may have suffered in 2019, but retail investors aren’t the least bit put off, according to a survey commissioned by ManifestSeven and conducted by global business advisory firm FTI Consulting. In the survey, 83% of American respondents viewed the 12-month outlook for the overall cannabis industry as “slightly” or “very” positive, as did 79% of Canadians surveyed.

Seeing the big picture, not the current blood in the streets, Karban knows that valuations normalizing will lure more institutional money off the sidelines to support the right kind of issuers. In turn, more professional investors will recognize the opportunity.

Capitalizing on Market Conditions

ManifestSeven is building an omni-channel platform for B2B and B2C cannabis commerce. Effectively, the platform will include distribution infrastructure and services for every channel in retail cannabis, including dispensaries, on-demand delivery, in-store pickup, e-commerce and e-commerce subscriptions. 

As detailed by Karban, consumers are habituated to the dynamic of retailers having extensive reach into supply chains to get what they need. Using Banana Republic, a Gap (NYSE:GPS) company, as an example, Karban explained that people are accustomed to walking into a store and if the apparel they want isn’t in stock, it is addressed instantly by an associate with a few taps on an iPad to scan the back room, warehouses and all other locations across the country to see where the closest one is.

Are you an accredited investor? Learn how to invest in ManifestSeven before it goes public

In that lane, ManifestSeven’s platform is an “order from anywhere, fulfill from anywhere” model that brings true value to the cannabis supply chain by seamlessly connecting businesses to businesses and businesses to consumers. The initial focus is in California where ManifestSeven now covers 80-85% of the state’s population from a service coverage perspective. 

2019 has been a big year for the company. During the spring, a $22 million private placement was completed, providing expansion capital. ManifestSeven acquired six companies in the distribution and retail space over the past nine months. This included their first cannabis dispensary, located in Santa Ana, California, and the 1-800-CANNABIS asset that serves as a central component of the platform.

Right now, Karban says they’re in the midst of completing another private placement during which they are raising capital at a 2x valuation compared to the funding round earlier this year. The takeaway there is that while most companies have been languishing, there is no down round for ManifestSeven.

The company has four or five more acquisitions it is considering, according to Karban, and plans to become a public entity in the coming months. He didn’t come out and say as much, but ManifestSeven’s plan to enter the public domain certainly implies that Karban is steadfast in his contention that the cannabis market is about to begin a new upward cycle with quality companies winning the capital from retail and institutional investors. 

Are you an accredited investor? Learn how to invest in ManifestSeven before it goes public

Click Here to Receive CFN Media’s Newsletter Every Week in Your Inbox

Disclaimer

CannabisFN.com is not an independent financial investment advisor or broker-dealer. You should always consult with your own independent legal, tax, and/or investment professionals before making any investment decisions. The information provided on https://www.cannabisfn.com(the ‘Site’) is either original financial news or paid advertisements drafted by our in-house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies that are the subject of the articles posted on the Site or other editorials for advertising such companies.  We are not an independent news media provider. We make no warranty or representation about the information including its completeness, accuracy, truthfulness or reliability and we disclaim, expressly and implicitly, all warranties of any kind, including whether the Information is complete, accurate, truthful, or reliable. As such, your use of the information is at your own risk. Nor do we undertake any obligation to update the items posted. CannabisFN.com received compensation for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.