Flora Growth Applauds Launch of German Cannabis Pilot Programs
Flora Growth Corp. (NASDAQ: FLGC) has announced its plans to apply for participation in upcoming cannabis pilot programs in Germany, overseen by the Federal Ministry for Agriculture and Food (BMEL). The initiative will be led by Executive Chairman Sammy Dorf, who previously secured over 40 licenses across 14 U.S. states, and Managing Director for Germany Manfred Ziegler.
The pilot programs aim to reduce illicit markets, enhance health prevention, and provide data for cannabis-related discussions. The company will be supported by TruHC's executive team, led by Hendrik Knopp, who has previous experience winning the first tender for medical cannabis cultivation in Germany with Tilray.
Flora Growth Corp. (NASDAQ: FLGC) ha annunciato i suoi piani per partecipare ai futuri programmi pilota sulla cannabis in Germania, supervisionati dal Ministero Federale per l'Agricoltura e la Alimentazione (BMEL). L'iniziativa sarà guidata da Sammy Dorf, Presidente Esecutivo, che in precedenza ha ottenuto oltre 40 licenze in 14 stati degli Stati Uniti, e Manfred Ziegler, Direttore Generale per la Germania.
I programmi pilota mirano a ridurre i mercati illeciti, migliorare la prevenzione sanitaria e fornire dati per discussioni relative alla cannabis. L'azienda sarà supportata dal team esecutivo di TruHC, guidato da Hendrik Knopp, che ha esperienza precedente nel vincere il primo bando per la coltivazione di cannabis medicinale in Germania con Tilray.
Flora Growth Corp. (NASDAQ: FLGC) ha anunciado sus planes para solicitar la participación en los próximos programas piloto de cannabis en Alemania, supervisados por el Ministerio Federal de Agricultura y Alimentación (BMEL). La iniciativa estará liderada por Sammy Dorf, Presidente Ejecutivo, quien anteriormente obtuvo más de 40 licencias en 14 estados de EE. UU., y Manfred Ziegler, Director General para Alemania.
Los programas piloto tienen como objetivo reducir los mercados ilícitos, mejorar la prevención de la salud y proporcionar datos para discusiones relacionadas con la cannabis. La empresa será apoyada por el equipo ejecutivo de TruHC, dirigido por Hendrik Knopp, quien tiene experiencia previa en ganar la primera licitación para el cultivo de cannabis medicinal en Alemania con Tilray.
플로라 그로스 주식회사 (NASDAQ: FLGC)는 독일 내 upcoming 대마초 파일럿 프로그램에 참여하기 위한 신청 계획을 발표했습니다. 이 프로그램은 농업 및 식품 연방부(BMEL)가 감독합니다. 이 계획은 샘미 도르프, Executive Chairman가 이끌며, 그는 미국 14개 주에서 40개 이상의 라이센스를 확보한 바 있습니다. 또한 독일을 담당하는 매니징 디렉터 만프레드 지글러도 함께합니다.
파일럿 프로그램의 목표는 불법 시장을 줄이고 건강 예방을 강화하며 대마초 관련 논의를 위한 데이터를 제공하는 것입니다. 이 회사는 이전에 Tilray와 함께 독일에서 의료용 대마초 재배를 위한 첫 번째 입찰을 수주한 경험이 있는 헨드릭 크놉이 이끄는 TruHC의 임원 팀의 지원을 받을 것입니다.
Flora Growth Corp. (NASDAQ: FLGC) a annoncé ses projets de participer aux futurs programmes pilotes de cannabis en Allemagne, supervisés par le Ministère fédéral de l'Agriculture et de l'Alimentation (BMEL). L'initiative sera dirigée par Sammy Dorf, Président Exécutif, qui a précédemment obtenu plus de 40 licences dans 14 États américains, ainsi que par Manfred Ziegler, Directeur Général pour l'Allemagne.
Les programmes pilotes visent à réduire les marchés illicites, à améliorer la prévention sanitaire et à fournir des données pour des discussions liées au cannabis. L'entreprise sera soutenue par l'équipe dirigeante de TruHC, dirigée par Hendrik Knopp, qui a une expérience antérieure dans l'obtention du premier appel d'offres pour la culture de cannabis médical en Allemagne avec Tilray.
Flora Growth Corp. (NASDAQ: FLGC) hat seine Pläne angekündigt, sich an den bevorstehenden Cannabis-Pilotprogrammen in Deutschland zu beteiligen, die vom Bundesministerium für Ernährung und Landwirtschaft (BMEL) überwacht werden. Die Initiative wird von Executive Chairman Sammy Dorf geleitet, der zuvor über 40 Lizenzen in 14 US-Bundesstaaten gesichert hat, sowie von Manfred Ziegler, dem Geschäftsführer für Deutschland.
Die Pilotprogramme zielen darauf ab, den illegalen Markt zu reduzieren, die Gesundheitsprävention zu verbessern und Daten für Diskussionen über Cannabis bereitzustellen. Das Unternehmen wird von dem Führungsteam von TruHC unterstützt, das von Hendrik Knopp geleitet wird, der zuvor die erste Ausschreibung für den Anbau von medizinischem Cannabis in Deutschland mit Tilray gewonnen hat.
- Executive Chairman brings experience in securing 40+ licenses across 14 U.S. states
- Company has existing presence and expertise in German medical cannabis market
- Strategic positioning for potential expansion in German cannabis market
- No guaranteed approval for participation in pilot programs
- Success depends on regulatory approval and program implementation
Insights
This announcement about Flora Growth's intention to participate in German cannabis pilot programs, while showing strategic positioning, lacks immediate material impact. The company's plans to submit applications represent early-stage intentions without guaranteed outcomes or financial implications. While the German market opportunity is significant and the company has assembled experienced leadership with Sammy Dorf's licensing expertise and Hendrik Knopp's German market knowledge, there are no concrete details about program specifications, timeline, or potential revenue impact. For a micro-cap company with a
The regulatory landscape for cannabis in Germany presents both opportunities and challenges. While Germany's move toward cannabis pilot programs signals progressive policy development, the actual implementation framework remains undefined. Flora's intention to participate, though promising, faces regulatory uncertainties typical of emerging cannabis markets. The company's strategic appointment of executives with relevant licensing experience, particularly Sammy Dorf's track record with 40 licenses across 14 U.S. states, demonstrates preparedness for navigating complex regulatory requirements. However, success in U.S. licensing doesn't guarantee similar outcomes in Germany's distinct regulatory environment.
Flora Intends to Submit Applications for Upcoming Cannabis Pilot Programs Run by BMEL
Fort Lauderdale, Florida--(Newsfile Corp. - December 12, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") today announced its intention to submit applications for participation in upcoming cannabis pilot programs in Germany to the Federal Ministry for Agriculture and Food ("BMEL"). These programs aim to effectively reduce the illicit market, expand health prevention, and provide an objective foundation for ongoing discussions surrounding cannabis.
Leading this endeavor will be Sammy Dorf, Executive Chairman, and Manfred Ziegler, Managing Director for Germany. Prior to joining the Company, Mr. Dorf played a key role in obtaining over 40 licenses across 14 U.S. states, including Illinois, Maryland, Nevada, Pennsylvania, and Ohio during his tenure at Verano Holdings. Assisting Mr. Ziegler will be TruHC's executive team, led by Hendrik Knopp who won the first tender for the cultivation of medical cannabis in Germany for Tilray (formerly Aphria).
"The German market represents a significant opportunity for Flora to showcase our expertise and drive innovation. We are excited about the potential of these pilot programs to advance cannabis and inform future policy decisions in Germany," said Clifford Starke, Chief Executive Officer. "With our background deeply rooted in leading the German medical market and the recent appointment of Sammy Dorf as our Executive Chairman earlier this week, we are extremely well positioned. Sammy's experience in successfully navigating the U.S. licensing landscape will be valuable as we pursue these opportunities in Germany."
"Beyond the THC-infused beverage opportunity, we could not be more excited to finally enter the German legal market, of which we were the pioneers. We believe our history in the country will allow us to secure participation in these pilot programs and contribute to the responsible development of the German cannabis market," noted Sammy Dorf, Executive Chairman.
The Company believes that its active participation in these pilot programs will not only contribute significantly to the advancement of cannabis but also solidify Flora's position as a leader in the German medical cannabis market.
About Flora Growth Corp.
Flora Growth Corp.'s mission is to become the leading NASDAQ small-cap international cannabis company. Flora 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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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 regarding: the Company's ability to successfully submit applications for participation in upcoming cannabis pilot programs in Germany; the Company's belief that it is well-positioned to contribute meaningfully to these initiatives; the Company's belief that Mr. Dorf's experience will be invaluable in pursuing these opportunities in Germany; the Company's confidence that it can successfully secure participation in these pilot programs and contribute to the responsible development of the German cannabis market; and the Company's ability to achieve its business objectives. 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).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233475
FAQ
What are the objectives of the German cannabis pilot programs that FLGC is applying for?
Who will lead FLGC's German cannabis pilot program initiative?
What relevant experience does FLGC's leadership bring to the German cannabis market?
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