• Flora receives commercial high-THC export quota from the Colombian Technical Quotas Group of 7,900kg of dried cannabis flower
• The market for psychoactive cannabis commands the highest prices in the industry with the average wholesale price per kilogram of THC distillate oil estimated between US$3,500-US$8,000⁽¹⁾
• Flora has signed multiple agreements for the sale and distribution of its dried flower and derivative products into several international jurisdictions, including South Africa, the EU, Australia, and Latin America
• Inaugural harvest of high-THC cultivars expected to occur by November 2021 and will complement commercial non-psychoactive (CBD) harvests, already in production

MIAMI & TORONTO, September 07, 2021–(BUSINESS WIRE)–Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, is pleased to announce that it has received its 2021 export quota from the Colombian Technical Quotas Group (“TQG”) to cultivate up to 7,900 kilograms of high-THC cannabis dried flower for direct sale or processing into derivative products for export to international markets.

“We have been eagerly anticipating and preparing for this announcement by cloning thousands of plants which we currently have in propagation waiting to be transferred into our fields. While awaiting this quota, we were focused on optimizing our cultivation strategy and demonstrating our industry-leading production costs of just US$0.06 per gram, while continuing to build out our facilities and applying for third party certifications,” said Javier Franco, VP of Agriculture of Flora. “While we prioritize planting the new high-THC cultivars, it’s also important to note we are actively harvesting our high-CBD crops, and anticipate that this harvest will create a robust pipeline of cannabis derivatives for Flora to use across its premium brands and products, as well as for export to multiple international markets.”

Management believes that the new 2021 export quota allocation that Flora has been provided to cultivate, process, and distribute high-THC cannabis dried flower and derivatives, will be sufficient to meet the international demand for Flora’s product for the remainder of 2021 and at the onset of 2022. Flora previously announced agreements with Kiricann and Evergreen Pharmacare to supply dried flower and derivatives for distribution in Africa and the EU, as well as to Australia, respectively. Additionally, the Company announced that it intends to make a strategic investment into Hoshi International, which will establish Flora as a preferred supplier to Hoshi’s two EU processing facilities, located in Malta and Portugal.

“This is a significant milestone for the Company and represents a major opportunity to export our high-margin, high-THC goods to legal markets around the world,” said Jason Warnock, Chief Revenue Officer of Flora. “It’s also important to note that this quota is for THC cannabis products as Flora does not require any quota for non-psychoactive cannabis (high-CBD) flower or derivatives.”

About Flora Growth Corp.

Flora is a cannabis company that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive. Visit www.floragrowth.ca or follow @floragrowthcorp on social 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 impact of legislative changes in Colombia both in Colombia and internationally; the impact of export quotas on our business; the size of markets for cannabis and cannabis products; our financial performance and projections; our growth in revenue and earnings; 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.

Footnotes

1. Prohibition Partners, The Cannabis Extraction Report, 2021.

Contacts

Investor Relations Contact:
Evan Veryard
[email protected]

Public Relations Contact:
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.

Bogota, Colombia–(Newsfile Corp. – May 27, 2021) – Medcolcanna Organics Inc. (TSXV: MCCN) (“Medcolcanna“, “MCCN” or the “Company“), a leading Canadian and globally integrated medicinal cannabis company with operations in Colombia, is pleased to announce the execution of a Letter of Intent (“LOI“) with Industrial Hemp Farms ( “IHF“), a large and well-established company based in Colorado, USA. The proposed business transaction is for the purchase of $1.0M USD ($1.2M CAD approx.) minimum of hemp derived high CBD dried flower per month. Pursuant to the LOI, other commodities will be also purchased from Medcolcanna by IHF.

The terms outlined in the LOI include a CBD Dried Flower Supply agreement, an option agreement for the supply of other MCCN products to IHF, and an investment option for IHF into MCCN if IHF meets certain performance targets.

Under these initial terms, and subject to the approval on upcoming legislation proposed by the Colombian Government on dried cannabis flower exports, MCCN is to supply IHF with a minimum of 20,000 pounds of CBD dried flower per month at a price of $50 USD per pound, for 5 years. The two Companies will also enter into a Supply Option Agreement along with the definitive agreement of CBD Dried Flower Supply Agreement, whereby MCCN is to supply and produce many other products for IHF including CBD, CBG, and CBN isolates, oils and distillates, as well as other consumer products.

This supply agreement would represent a minimum of $12 million USD ($14.5M CAD) on a rolling 12 month basis in revenue for MCCN. MCNN anticipates the CBD dried flower supply agreement to begin in Q4 2021, when regulations should be in place for the flower export.

This LOI shows IHF’s support of MCCN’s quality of operations, products and services. IHF will also provide their vast expertise, in the US and global markets, which should further strengthen MCCN’s research and development efforts along with their cultivation processes.

Given certain performance targets IHF will be granted stock options, which have a six-month expiry period, the period to begin once the performance targets have been achieved and the stock options vest. IHF will be granted 8,000,000 stock options, with a strike price of $0.13 which will vest once $3.0M USD ($3.6M CAD) of product is purchased and paid for, an additional 8,000,000 stock options, with a strike price of $0.17 which will vest once $5.0M USD ($6.1M CAD) of product is purchased and paid for and a final 8,000,000 stock options, with a strike price of $0.19 which will vest once $8.0M USD ($9.7M CAD) of product is purchased and paid for.

Pursuant to the LOI, IHF will be granted 5,000,000 performance units, which will be allocated in three tranches, the first tranche will have 1 million performance units, and the 2^nd and 3^rd tranche will both have 2 million performance units each. The first tranche of performance units will fully vest once IHF has purchased and paid for $3.0M ($3.6M CAD) of CBD dried flower from MCCN, the second and third tranches will fully vest once IHF has purchased and paid for $10M USD ($12.1M CAD) and $20M USD (24.2M CAD) of product, respectively. The above noted performance units will consist of a cash discount for future orders, such discount to be based on the price of the shares of Medcolcanna to be determined based on the then current market price of the shares on the facilities of any stock exchange on which the shares may then be listed and posted for trading. For example, if at the time the performance threshold for vesting is met through Industrial Hemp Farms ordering and paying for $3 million worth of product, the shares of Medcolcanna are trading at $0.25 per share, then the discount shall be based on multiplying 1,000,000 by the trading price of $0.25, resulting in a discount of $250,000 for future orders, such discount or credit to be applied by Industrial Hemp Farms towards the purchase of common shares of Medcolcanna at the prevailing market price by way of a new share issuance.

The LOI also provides that IHF has the ability to nominate two (2) additional board members to MCCN, such nomination to take effect upon the signing of the definitive agreement for this transaction, but subject to regulatory approval and conditional on the election of the six (6) nominees being put forward by management at the upcoming annual general and special meeting of shareholders to be held on July 7, 2021.

The increase in the size of the option pool under the stock option plan to facilitate the issuance of shares pursuant to the LOI and the increase to the size of the board of directors to six (6) members is subject to Board approval and shareholders’ approval at the AGM. This Increase in the size of the Board of Directors will facilitate the ability of IHF to nominate the aforementioned two (2) board members through the addition of one additional board position plus the resignation of one of the nominated six (6) members of the Board being elected at the upcoming AGM.

Comment from CEO Felipe de la Vega: “This is a major opportunity for the Company as it marks the beginning of a deeper relation with IHF, already a leader in the US market. Through their support in products and distribution we will also improve our trading activities in Europe from our Swiss office. The flower export is one of the largest contracts in the market for this product and demonstrates the state of the art facilities that the Company has developed. We are pleased to have been chosen by IHF after they had been looking for a reliable supplier in Colombia with the capabilities and a common view on market development. We are working already on some other opportunities with IHF that we expect will increase our position and brand recognition, and will be announced in due time.”

About Industrial Hemp Farms

IHF specializes in the production, distribution and sales of a wide arrangement of non-psychoactive cannabis-based products. IHF enjoys a commanding presence in the industry, being the third largest supplier of bulk hemp flower and extracts worldwide. They are one of the key players in the US cannabis market, with a product list covering an extensive range of non-psychoactive cannabis-based products.

About Medcolcanna

Medcolcanna is a Canadian-integrated medical cannabis company, whose fully licensed operations are based in Colombia.

Led by a proven and successful management team, Medcolcanna has a growing number of facilities in optimal growing locations, which positions the Company to become a global leader in the medical cannabis market.

Medcolcanna employs state-of-the-art organic agricultural technology and innovative pharmaceutical processes to produce high-quality products.

The Company’s scalable production model and network of pharmaceutical partnerships globally ensures that they remain at the forefront of the medical cannabis industry.

If you would like to receive News Releases via email as soon as they are published, please subscribe here: https://medcolcanna.com/contact-us/ or write to [email protected].

Additional information about Medcolcanna can be found on its web site at medcolcanna.com.

Medcolcanna Investor Relations Contact:
Chris Reid, CFO Carrera 49b # 93-62 Bogota, Colombia
Phone: +571 642-9113
Email: [email protected]

Forward-Looking Statements

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”, “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.

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; and the delay or failure to receive board, shareholder or regulatory approvals for any proposed transaction, including those discussed herein. 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. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.

Medcolcanna 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.

Emerald secures equity position in US company launching unique cannabis specialty product

Vancouver, British Columbia–(Newsfile Corp. – May 6, 2021) – Emerald Health Therapeutics, Inc. (CSE: EMH) (OTCQX: EMHTF) (“Emerald”) has entered into a license agreement (the “Agreement”) with FlowerPod LLC (“FP”), a private US company, providing FP with the exclusive use of certain Emerald patented technology for developing and marketing cannabis related products for use in all US states and other key geographies where adult use and/or medical cannabis is legal.

The initial prototype product designed by Emerald, utilizing its Defined Dose expertise, has been refined over the last 15 months through a collaboration between FP and Emerald. About 50% of cannabis consumers are largely influenced by the convenience of the consumption form when choosing a cannabis product, qualifying it as a top-5 influencer¹. This soon-to-launch specialty product targets cannabis flower users and is expected to provide a more convenient method of consuming whole spectrum dried flower cannabis and ensure a consistent amount of active ingredient with every use of the product. This is expected to provide users with greater predictability and control of their cannabis consumption.

Given ongoing commercial and launch planning activities, full details of the product and intellectual property will be disclosed when FP commercially launches this new product, anticipated in Q4 of 2021. FP intends to bring this new product to market by initially partnering with leading licensed growers and distributors in the Northeast US. Based on the almost 50% greater population as well as legal recreational or medical cannabis use permitted in the states of this region, the Northeast US alone has the potential to exceed legal cannabis sales in Canada.

Pursuant to the Agreement, FP has the right to use Emerald’s intellectual property to manufacture and sell related products in all US states where adult use and/or medical cannabis is legal, with the option to expand globally (excluding select medical markets including Canada) upon meeting certain milestones. Emerald has also provided FP with a loan of US$350,000 that is repayable within two years with interest at a rate of 5%. In exchange, Emerald receives a 19% equity ownership position in FP and will also receive monthly R&D and IP license payments from FP.

In February 2021, FP completed its initial financing with individual and institutional investors to support commercial scale-up, product launch and marketing.

“Emerald’s core focus is science-driven product innovation and intellectual property development. We are pleased to have demonstrated the value of our product development expertise, as well as the appeal of our Defined Dose products, and our patent portfolio by structuring this attractive deal that enables a growth-focused entrepreneurial company to exploit this novel patent-protected product in the United States and potentially beyond, and allows Emerald and its shareholders to benefit from FlowerPod’s anticipated growth and success,” said Riaz Bandali, President and CEO.

1. BDS Analytics: Top Ten Cannabis Market Trends for 2019, January 2019

About Emerald Health Therapeutics

Emerald is committed to creating new consumer experiences with distinct recreational, medical and wellness-oriented cannabis products with an emphasis on innovation and product excellence.

Please visit www.emeraldhealth.ca for more information or contact:

Jenn Hepburn, Chief Financial Officer
(800) 757 3536 Ext. #5

Emerald Investor Relations
(800) 757 3536 Ext. #5
[email protected]

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. Such statements include: the effects of products developed by FP; the launch date of products developed by FP; partnerships with third parties; expansion to other geographical areas; payment of amounts owned to Emerald; and FP meeting certain milestones.

We cannot guarantee that any forward-looking statement will materialize, and readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements involve risks and uncertainties related to, among other things, changes of law and regulations; changes of government; failure to obtain regulatory approvals or permits; failure to obtain necessary financing; results of product development, production and sale activities; changes in prices and costs of inputs; demand for products; changes in business strategy; as well as the risk factors described in Emerald’s annual information form and other regulatory filings. The forward-looking statements contained in this press release represent our expectations as of the date hereof. Forward-looking statements are presented for the purpose of providing information about management’s current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Emerald undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable 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.