Flora Growth Announces Warrant Extensions
Flora Growth Corp. (NASDAQ: FLGC) has announced a three-month extension on the expiry dates of approximately 6.67 million common share purchase warrants. Originally set to expire 18 months post-issuance, the new expiry dates now range from October 25, 2021, to October 20, 2022. The exercise price remains unchanged at US$3.00 per share. This extension applies to all unexercised warrants issued during the Regulation A+ Tier 2 offering in December 2020. Flora aims to enhance its market positioning as a leading outdoor cultivator and manufacturer of cannabis-derived products.
- Extension of warrant expiry provides investors additional time to exercise.
- Maintaining the exercise price of US$3.00 can bolster investor confidence.
- The need to extend expiry dates may indicate lower immediate investor interest or confidence.
Flora Growth Corp. (NASDAQ: FLGC) (“Flora”, “Flora Growth” or the “Company”), a leading all-outdoor cultivator and global manufacturer of cannabis-derived products and brands, is pleased to announce that it has extended the expiry dates by three months of approximately 6.67 million (on a post-consolidation basis) of its common share purchase warrants (“Warrants”), being all of the unexercised Warrants issued by the Company (on a post-consolidation basis) pursuant to its Regulation A+ Tier 2 offering of units that closed in December 2020.
The Warrants are exercisable into common shares of Flora at a price of US
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 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: 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.
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FAQ
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