Clifford Starke Acquires Securities of Flora Growth Corp.

Rhea-AI Summary

Clifford Starke acquires 526,315 common shares of Flora Growth Corp. for US$1.00 million, increasing his ownership to 12.59% after a public offering completed on April 8, 2024.

Panama City, Panama--(Newsfile Corp. - April 8, 2024) - Clifford Starke (the "Acquiror") announces, pursuant to the early warning requirements of Canadian securities legislation, that he has acquired common shares (the "Common Shares") of Flora Growth Corp. ("Flora" or the "Company"), pursuant to the recently completed public offering of the Company (the "Offering"), which was completed on April 8, 2024.

As a result of the Offering, the Acquiror acquired an aggregate of 526,315 Common Shares for US$1.00 million or CAD$1.36 million through YT Research Inc., an entity owned and controlled by the Acquiror.

Immediately before the completion of the Offering, the Acquiror owned an aggregate of 818,741 Common Shares, representing approximately 9.11% of the outstanding Common Shares of the Issuer. Immediately following the completion of the Offering, the Acquiror owned an aggregate of 1,345,056 Common Shares, representing approximately 12.59% of the outstanding Common Shares.

This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103") of the Canadian Securities Administrators in connection with the acquisition of the Common Shares by the Acquiror, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the early warning report of the Acquiror will be available on the Company's issuer profile on SEDAR at www.sedar.com. A copy of the early warning report can also be obtained by contacting the Acquiror at 954-842-4989.

For the purposes of NI 62-103, the address of the Acquiror is PH Park Loft - Suite 2006, Via Porras 75, Panama City, Panama.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204788

FAQ

How many common shares did Clifford Starke acquire in the recent public offering of Flora Growth Corp.?

Clifford Starke acquired 526,315 common shares in the public offering.

What was the total amount Clifford Starke paid for the common shares?

Clifford Starke paid US$1.00 million or CAD$1.36 million for the common shares.

What percentage of outstanding common shares did Clifford Starke own before the completion of the offering?

Clifford Starke owned approximately 9.11% of the outstanding common shares before the offering.

What percentage of outstanding common shares does Clifford Starke own after the completion of the offering?

Clifford Starke now owns approximately 12.59% of the outstanding common shares after the offering.

Where can the early warning report of Clifford Starke be found?

The early warning report of Clifford Starke will be available on the Company's issuer profile on SEDAR at www.sedar.com.