Flora Growth Corp. Announces Appointment of Marc Mastronardi to Board of Directors

Rhea-AI Summary

Flora Growth Corp. (NASDAQ: FLGC) has appointed Marc Mastronardi, former Chief Stores Officer at Macy’s, to its Board of Directors. This move aims to leverage Mastronardi's extensive experience in business development and customer experience to enhance Flora's growth and shareholder value. Flora Growth is also set to host a virtual discussion on May 27, 2021, providing updates on its business developments, including cultivation progress and international sales in Central America and the U.K. The company emphasizes its commitment to cost-effective, sustainable cannabis cultivation.

Positive

• Appointment of Marc Mastronardi to the Board, expected to enhance business development and shareholder value.
• Plans to discuss significant business updates in an upcoming virtual event, showcasing transparency and investor engagement.
• Focus on expanding international sales and cultivation, indicating growth potential.

Negative

• None.

Flora Growth will also host a live virtual fireside discussion that will take place on Thursday, May 27th at 1:00 pm ET and all those interested in attending are encouraged to register.

TORONTO, May 25, 2021 (GLOBE NEWSWIRE) -- Flora Growth Corp. (NASDAQ: FLGC) (“Flora”, “Flora Growth”, or the “Company”), an all-outdoor cultivator and manufacturer of cannabis-derived products and brands, announced today that it has appointed Marc Mastronardi, Chief Stores Officer of Macy’s, to its Board of Directors (the “Board”).

“We are pleased to welcome Marc as a valuable member of our Board of Directors to assist Flora Growth Corp. in achieving rapid growth and maximizing shareholder value,” said Luis Merchan, President and CEO of Flora Growth. “Marc brings a wealth of experience in business development, enterprise operations and customer experience, and we believe he will be a significant asset to our Board.”

Prior to his current role, Mastronardi was Macy’s Senior Vice President of Store Operations and Customer Experience, where he was responsible for enterprise-wide store operations, sales and customer service. Mastronardi has also led multiple functions within the organization responsible for the creation and expansion of new business concepts, leased partnerships and diverse, owner-led businesses. Mastronardi currently serves on the board of Delivering Good, NYC, the executive committee of the Fashion Scholarship Fund, and is the executive sponsor of the Macy’s Working Families Employee Resource Group.

“I am thrilled to be joining Flora Growth Corp.’s Board of Directors at such an exciting time,” Mastronardi added. “The emerging market of all-outdoor cannabis cultivation presents a unique growth opportunity and I am looking forward to contributing my experience and knowledge to benefit Flora Growth Corp. and its shareholders and customers.”

Flora Growth CEO Fireside

Flora Growth is pleased to announce it will be hosting a live fireside discussion between President & CEO, Luis Merchan, and Vice President of Corporate Development, James Williams. The virtual fireside conversation will take place on Thursday, May 27th at 1:00 pm ET and all those interested in attending are encouraged to register using the following link.

Registration Link:
https://us02web.zoom.us/webinar/register/WN_5CInKn34SyST6xaoiSnVxg

Specifically, Luis and James will be providing updates on Flora Growth’s recent business developments and overall international cannabis strategy. This includes discussing the recent cultivation progress at Cosechemos, the launch of Flora Growth's international sales in Central America and the U.K., and how Flora Growth is structuring its divisions, like Flora Lab, to maximize the Company’s bottom line. A recording of the event will also be made available online for those unable to attend the live event.

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.

Investor Relations Contact:
Evan Veryard
+1 (416) 571-9037
evan.veryard@floragrowth.ca

Public Relations Contact
Cassandra Dowell
CMW Media
cassandra@cmwmedia.com
858-264-6600
www.cmwmedia.com

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.

FAQ

Who is Marc Mastronardi, and what is his role at Flora Growth?

Marc Mastronardi is the newly appointed Board Member of Flora Growth Corp., bringing extensive experience from his previous role as Chief Stores Officer at Macy’s.

What updates will Flora Growth provide in the May 27, 2021 discussion?

Flora Growth will discuss recent business developments, cultivation progress, and the launch of international sales in Central America and the U.K.

How does Marc Mastronardi's appointment impact Flora Growth shareholders?

His appointment is expected to enhance business operations and strategies aimed at maximizing shareholder value.

What are Flora Growth’s cultivation practices?

Flora Growth utilizes natural, cost-effective outdoor cultivation practices for its cannabis-derived products.