Clifford Starke, CEO of Flora Growth Corp., Appointed to HoshiCap Board of Directors
Flora Growth Corp. (NASDAQ: FLGC) has announced the appointment of its CEO, Clifford Starke, to the Board of Directors of HoshiCap, a subsidiary of Hoshi International. Flora made a $2.4 million equity investment in Hoshi in 2021, securing a 10% ownership. Hoshi controls 51% of a Portuguese cannabis cultivation facility, which has received $20 million in investments and employs 18 full-time staff.
Mr. Starke's appointment is expected to bring valuable experience in global cannabis operations to HoshiCap as it progresses towards licensure of its advanced cultivation facility. This strategic move aligns with Flora's goal of accessing low-cost cultivation to supply the German medical cannabis market, leveraging Portugal's position as a leading cannabis exporter to the EU.
Flora Growth Corp. (NASDAQ: FLGC) ha annunciato la nomina del suo CEO, Clifford Starke, nel Consiglio di Amministrazione di HoshiCap, una sussidiaria di Hoshi International. Flora ha effettuato un investimento in equity di 2,4 milioni di dollari in Hoshi nel 2021, assicurandosi un 10% di proprietà. Hoshi controlla il 51% di un impianto di coltivazione di cannabis portoghese, che ha ricevuto investimenti per 20 milioni di dollari e impiega 18 persone a tempo pieno.
La nomina del sig. Starke è prevista per portare un'esperienza preziosa nelle operazioni globali di cannabis a HoshiCap mentre progredisce verso l'ottenimento della licenza per il suo impianto di coltivazione avanzato. Questa mossa strategica si allinea con l'obiettivo di Flora di accedere a coltivazioni a basso costo per rifornire il mercato tedesco della cannabis medica, sfruttando la posizione del Portogallo come esportatore leader di cannabis nell'UE.
Flora Growth Corp. (NASDAQ: FLGC) ha anunciado el nombramiento de su CEO, Clifford Starke, en la Junta Directiva de HoshiCap, una subsidiaria de Hoshi International. Flora realizó una inversión de capital de 2,4 millones de dólares en Hoshi en 2021, asegurando un 10% de propiedad. Hoshi controla el 51% de una instalación de cultivo de cannabis en Portugal, que ha recibido 20 millones de dólares en inversiones y emplea a 18 trabajadores a tiempo completo.
Se espera que el nombramiento del Sr. Starke aporte una experiencia valiosa en operaciones globales de cannabis a HoshiCap mientras avanza hacia la obtención de la licencia para su instalación de cultivo avanzada. Este movimiento estratégico se alinea con el objetivo de Flora de acceder a cultivo a bajo costo para abastecer el mercado alemán de cannabis medicinal, aprovechando la posición de Portugal como un exportador líder de cannabis a la UE.
플로라 성장 주식회사(증권 코드: FLGC)는 CEO 클리포드 스타크를 호시인터내셔널의 자회사인 호시캡의 이사회에 임명했다고 발표했습니다. 플로라는 2021년에 호시에
스타크 씨의 임명은 호시캡이 고급 재배 시설의 라이센스를 확보하는 데 나아갈 때 글로벌 대마초 운영에서 가치 있는 경험을 가져올 것으로 기대됩니다. 이 전략적 움직임은 플로라가 독일 의료용 대마초 시장에 공급하기 위해 저렴한 재배 접근을 목표로 하는 것과 일치합니다. 포르투갈의 EU 대마초 수출국으로서의 위치를 활용하고 있습니다.
Flora Growth Corp. (NASDAQ: FLGC) a annoncé la nomination de son PDG, Clifford Starke, au conseil d'administration de HoshiCap, une filiale de Hoshi International. Flora a réalisé un investissement en capital de 2,4 millions de dollars dans Hoshi en 2021, sécurisant une participation de 10%. Hoshi contrôle 51% d'une installation de culture de cannabis au Portugal, qui a reçu 20 millions de dollars d'investissements et emploie 18 employés à temps plein.
La nomination de M. Starke devrait apporter une expérience précieuse dans les opérations mondiales de cannabis à HoshiCap alors qu'elle progresse vers l'obtention de la licence pour son installation de culture avancée. Ce mouvement stratégique s'aligne avec l'objectif de Flora d'accéder à des cultures à faible coût pour alimenter le marché allemand du cannabis médical, en tirant parti de la position du Portugal en tant que principal exportateur de cannabis vers l'UE.
Die Flora Growth Corp. (NASDAQ: FLGC) hat die Ernennung ihres CEO, Clifford Starke, in den Vorstand von HoshiCap, einer Tochtergesellschaft von Hoshi International, bekannt gegeben. Flora tätigte 2021 eine Kapitalbeteiligung in Höhe von 2,4 Millionen Dollar an Hoshi und sicherte sich damit 10% Eigentum. Hoshi kontrolliert 51% einer portugiesischen Cannabis-Anlage, die 20 Millionen Dollar an Investitionen erhalten hat und 18 Vollzeitmitarbeiter beschäftigt.
Die Ernennung von Herrn Starke wird erwartet, um wertvolle Erfahrungen im Bereich der globalen Cannabis-Operationen zu HoshiCap zu bringen, während das Unternehmen auf dem Weg zur Lizenzierung seiner fortschrittlichen Anbauanlage voranschreitet. Dieser strategische Schritt stimmt mit Floras Ziel überein, Zugang zu kostengünstigem Anbau zu erhalten, um den deutschen Markt für medizinisches Cannabis zu beliefern und die Position Portugals als führenden Cannabis-Exporter in die EU zu nutzen.
- Strategic investment in Hoshi International provides access to low-cost cultivation for the German medical cannabis market
- Clifford Starke's appointment to HoshiCap's Board brings valuable expertise in global cannabis operations
- The Portuguese facility represents a $20 million investment in a world-class cannabis cultivation project
- None.
Fort Lauderdale, Florida--(Newsfile Corp. - September 17, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") is pleased to announce the appointment of Clifford Starke, Chief Executive Officer, to the Board of Directors of HoshiCap, a subsidiary of Hoshi International ("Hoshi") which has a cannabis-cultivation facility in Portugal.
Flora initially made an equity investment of
Mr. Starke's wealth of experience in global cannabis operations will be a significant asset to as HoshiCap continues to march towards licensure at its advanced stage cannabis cultivation facility project.
Flora's strategic investment in Hoshi represents an important step towards gaining access to a low-cost cultivation project to supply the German medical cannabis market. Portugal has become a leading exporter of cannabis into the European Union.
As a seasoned executive with a track record of building and scaling cannabis companies, Mr. Starke brings invaluable expertise and leadership to HoshiCap. His experience leading Flora Growth positions him to contribute to HoshiCap's mission of becoming a supplier of high-quality cannabis products to the European market.
"I am excited to join HoshiCap's Board of Directors and look forward to working with the team on the successful launch of the cultivation facility in Portugal. The European market is poised for growth, and I believe HoshiCap is well positioned to capitalize on this opportunity. My appointment to the Board will enable Flora to build key relationships in a favorable jurisdiction for cannabis cultivation," said Mr. Starke.
About Flora Growth Corp.
Flora Growth Corp.'s mission is to become the leading NASDAQ small-cap international cannabis company. It is a cannabis-focused consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world. For more information on Flora, visit www.floragrowth.com.
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Investor Relations:
Investor Relations ir@floragrowth.com
Clifford Starke Clifford.Starke@floragrowth.com
Media:
Cautionary Statement Concerning Forward-Looking Statements
This press release contains "forward-looking statements," as defined by U.S. federal securities laws. Forward-Looking statements reflect Flora's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words "believe," "expect," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," and the negatives of these words and other similar expressions generally identify forward-looking statements. These forward-looking statements include, but are not limited to, statements about: Hoshi or a related company obtaining a production and processing license, Hoshi or a related company completing the construction of its facility to the required specifications or at all, Hoshi or a related company becoming a supplier of high-quality cannabis products to the European market, Flora gaining access to a low-cost cultivation project to supply the German medical cannabis market, Portugal maintaining its position as a leading exporter of cannabis into the European Union, Hoshi or a related company growing in the European market as well capitalizing on opportunities in this market, Flora building key relationships in a favorable jurisdiction for cannabis cultivation, Portugal maintain its status as a favorable jurisdiction of cannabis cultivation, and Flora's ability to maintain its current or any ownership stake in Hoshi or a related company. Such forward-looking statements are subject to various and risks and uncertainties, including those described under section entitled "Risk Factors" in Flora's Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (the "SEC") on March 28, 2024, as such factors may be updated from time to time in Flora's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov/edgar. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Flora's filings with the SEC. While forward-looking statements reflect Flora's good faith beliefs, they are not guarantees of future performance. Flora disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based on information currently available to Flora (or to third parties making the forward-looking statements).
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FAQ
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