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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.

Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, announced today the appointment of operations and personnel development expert, Joël Reyes as Senior Vice President of Global Operations. Mr. Reyes brings extensive experience in operations management and optimization, leadership and C-suite consultation and development, business development, and strategic consultative sales, both within startups and large corporations.

Mr. Reyes is charged with implementing operational excellence across the organization, beginning with Flora’s robust Columbian activities, including the optimization of Flora’s pipeline of cannabis derivatives and raw materials into the global market, assessment of supply chain, evaluation of R+D and product development, and identification of distribution opportunities. Given the new Colombian law allowing the export of dried flower and Flora’s receipt of an export quota of up to 7,900 kilograms of high-THC cannabis dried flower in 2021, the Company has begun ramping up production at its Cosechemos cultivation and extraction facility to support pent-up demand which will support both wholesale relationships and owned-resource supply needs.

“2022 is the year for Flora to rapidly grow sales and revenue, and being surgical in our operational execution at every touchpoint will be critical to achieving our goals,” said Luis Merchan, President and CEO of Flora Growth Corp. “As an award-winning expert in operations management, the appointment of Joël Reyes comes at the perfect time as Flora Growth’s aggressive global brand expansion and M&A strategy continue to be implemented.”

The appointment of the SVP of Global Operations role comes as Flora Growth expands its global reach via recent acquisitions and partnerships, including: Hoshi International, which provided Flora with a pathway to European distribution and Vessel Brand Inc., which offered the Company a cannabis accessories company with a foothold in the North American cannabis market. Flora has also struck a distribution deal with the Tonino Lamborghini brand to distribute cannabis beverages, and a sales agreement with Tropi, Colombia’s largest food and beverage distributor.

Named one of the “Faces of Innovation” by the Consumer Technology Association (CTA), Reyes has founded four startups awarding him an intimate understanding of the level of commitment, consistency and determination needed to address challenges and achieve goals at scale.

“Flora Growth is well-positioned for rapid revenue growth after strategically building a house of brands and global pipeline for the sale of cannabis derivatives in 2021,” Reyes said. “With this growth, combined with aggressive revenue targets, comes the need for operational acuity within every go-to-market pillar, across every market we enter — and that is the work I most look forward to taking on, alongside this all-star team.”

About Flora Growth Corp.
Flora is building a connected, 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. 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.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 size of markets for cannabis and cannabis products; Flora’s ability to execute on its research and pharmaceutical strategies; the results of Flora’s research; 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/20220127005365/en/

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.

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Cannabis-based pharmaceutical drug products remain a niche market despite the plant’s significant promise. By acting on the endocannabinoid system, a widespread neuromodulator that plays an important role in everything from central nervous system development to synaptic plasticity, cannabinoids have the potential to treat a wide range of conditions.

Dronabinol, a synthetic version of THC, and Nabilone, a synthetic analog of THC, have been FDA approved since the 1980s for HIV/AIDS-induced anorexia and chemotherapy-induced nausea, and more recently, GW Pharmaceuticals—recently acquired by Jazz Pharmaceuticals—secured FDA approval for synthetic CBD for the treatment of seizures.

However, cannabinoids have shown promise that extends well beyond these niche markets and into areas like chronic pain and mental health treatments. The liberalization of cannabis regulations across North America and Europe has opened the door for researchers to study these products—potentially creating billions in value for shareholders.

Flora Growth Corp. (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of cannabis flower and derivative products, plans to capitalize on these dynamics and bridge the divide between cannabis and pharmaceuticals with its unique drug development platform and pathway to commercialization. Additionally, Flora continues to focus on its core business of building a global distribution platform to supply its medical-grade cannabis products and input materials to its global portfolio of premium, cannabis consumer packaged goods (CPG) brands for cosmetics, nutraceuticals, hemp textiles, and food and beverage.

A Unique Approach

Flora Growth aims to identify scientific gaps in the cannabis industry and leverage its proprietary drug development platform to identify new bioactive compounds. Using artificial intelligence and machine learning, the platform identifies compounds in the cannabis plant that interact with certain gene targets responsible for specific disease states and conditions.

“There is an urgent need for more research to better understand the molecular and biochemical effects of cannabis at the cellular level, to begin to apply its implications as a pharmaceutical drug,” said Flora’s Director and Lead Scientific Advisor, Dr. Annabelle Manalo-Morgan in a recent press release outlining the company’s ambitious plans.

In addition to its unique approach to drug discovery and development, the company intends to work with government regulators and academic institutions to initiate academic studies at a low cost and efficiently move through the drug development process. The company also expects to fast-track traditional timelines by running phase trials in parallel. These combined initiatives should prove to significantly derisk this ambitious initiative by taking advantage of government subsidies and grants, as well as prove to be incredibly and relatively capital efficient compared to traditional clinical trials as Flora will only be responsible for a small portion of the bill, presumably largely contributing by supplying flower and derivative products for the trials, as well as their human capital to oversee and manage their research projects.

These efforts could unlock shareholder value in many ways. For example, the company could license promising compounds to third parties to develop in exchange for royalties or bring these programs through clinical trials leveraging its existing supply capabilities. Of course, GW Pharmaceuticals demonstrated the demand for M&A across the cannabinoid-based pharmaceutical industry.

Diversified Opportunity 

Flora Growth sets itself apart from development-stage pharmaceutical companies with its diverse commercial operations. For example, the company is already manufacturing and distributing more than 60 over-the-counter products in a 16,000 sq. ft. facility with a modern laboratory. These products are focused on everything from beauty to food and beverage.

In addition to product manufacturing, the company cultivates cannabis in Colombia where it has production costs of less than $0.06 per gram and yields greater than 125 grams per plant. The company has 10.8 million sq. ft. of licensed cultivation area that could make it one of the largest cannabis cultivators in the world and larger than competitors like Aphria or Aurora.

The company’s multi-sector ambitions are supported by an exceptional management team. For instance, President and CEO Luis Merchan has over a decade of experience in everything from enterprise sales to corporate strategy, serving as VP of Workforce Strategy for Macy’s where he managed a multi-billion-dollar P&L expense line for its 540 stores.

Looking Ahead

Flora Growth Corp. (NASDAQ: FLGC) offers investors an opportunity to participate in a low-cost cannabis cultivator and manufacturer with a global cannabis CPG portfolio of premium brands that is also foraying into high-margin cannabis-based pharmaceuticals. With its existing commercial operations and revenue streams, the company may be less risky than development-stage pharmaceutical companies without any other operations.

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.