Flora Growth Corp. Applauds Germany's New Industrial Hemp Legislation, Plans to Leverage Expertise for Market Entry
Flora Growth Corp. (NASDAQ: FLGC) welcomes Germany's new industrial hemp legislation, which liberalizes cultivation and creates new opportunities for the industry. The updated regulatory framework, introduced by Food and Agriculture Minister Cem Özdemir, removes the restrictive 'abuse clause' and streamlines the path for producers. Industrial hemp, containing less than 0.3% THC, has versatile applications from textiles to wellness products.
Flora, with its established presence in the hemp cannabinoid space, is well-positioned to enter the German market. The company plans to leverage its expertise in cannabinoid extraction and product development, offering a range of high-quality, low-THC hemp products under its JustCBD and Vessel brands. CEO Clifford Starke expressed excitement about the potential in the European hemp market and Flora's commitment to expanding its international footprint.
Flora Growth Corp. (NASDAQ: FLGC) accoglie con favore la nuova legislazione sulla canapa industriale in Germania, che liberalizza la coltivazione e crea nuove opportunità per il settore. Il quadro normativo aggiornato, introdotto dal Ministro dell'Agricoltura e Alimentazione Cem Özdemir, elimina la restrittiva 'clausola di abuso' e semplifica il percorso per i produttori. La canapa industriale, contenente meno dello 0,3% di THC, ha applicazioni versatili che spaziano dai tessuti ai prodotti per il benessere.
Flora, con la sua presenza consolidata nello spazio dei cannabinoidi da canapa, è ben posizionata per entrare nel mercato tedesco. L'azienda prevede di sfruttare la propria esperienza nell'estrazione dei cannabinoidi e nello sviluppo di prodotti, offrendo una gamma di prodotti di canapa di alta qualità e a basso contenuto di THC sotto i suoi marchi JustCBD e Vessel. Il CEO Clifford Starke ha espresso entusiasmo per il potenziale nel mercato europeo della canapa e per l'impegno di Flora nell'espandere la propria presenza internazionale.
Flora Growth Corp. (NASDAQ: FLGC) da la bienvenida a la nueva legislación sobre cáñamo industrial de Alemania, que liberaliza el cultivo y crea nuevas oportunidades para la industria. El marco regulatorio actualizado, presentado por el Ministro de Agricultura y Alimentación Cem Özdemir, elimina la restrictiva 'cláusula de abuso' y simplifica el camino para los productores. El cáñamo industrial, que contiene menos del 0.3% de THC, tiene aplicaciones versátiles que van desde textiles hasta productos de bienestar.
Flora, con su presencia consolidada en el espacio de cannabinoides de cáñamo, está bien posicionada para ingresar al mercado alemán. La empresa planea aprovechar su experiencia en extracción de cannabinoides y desarrollo de productos, ofreciendo una variedad de productos de cáñamo de alta calidad y bajo contenido de THC bajo sus marcas JustCBD y Vessel. El CEO Clifford Starke expresó su entusiasmo por el potencial en el mercado europeo del cáñamo y el compromiso de Flora de expandir su presencia internacional.
플로라 그로스 회사(FLGC: NASDAQ)는 독일의 새로운 산업용 대마 법안을 환영하며, 이는 경작을 자유화하고 산업에 대한 새로운 기회를 창출합니다. 농식품부 장관 Cem Özdemir가 도입한 업데이트된 규제 프레임워크는 제한적인 '남용 조항'을 제거하고 생산자들의 경로를 간소화합니다. 산업용 대마는 THC가 0.3% 미만으로 다양한 용도를 가집니다. 섬유에서 웰니스 제품까지 다양합니다.
플로라는 대마의 칸나비노이드 공간에서 확고한 입지를 가지고 독일 시장에 진입할 준비가 잘 되어 있습니다. 이 회사는 칸나비노이드 추출 및 제품 개발 전문가로서 JustCBD 및 Vessel 브랜드 아래에서 고품질 저THC 대마 제품의 범위를 제공할 계획입니다. CEO Clifford Starke는 유럽 대마 시장의 잠재력에 대한 흥분을 표현하며, Flora의 국제적 입지를 확장하려는 노력에 대해 자부심을 나타냈습니다.
Flora Growth Corp. (NASDAQ: FLGC) se réjouit de la nouvelle législation sur le chanvre industriel en Allemagne, qui libéralise la culture et crée de nouvelles opportunités pour l'industrie. Le cadre réglementaire mis à jour, introduit par le ministre de l'Agriculture et de l'Alimentation Cem Özdemir, supprime la restrictive 'clause d'abus' et simplifie le parcours pour les producteurs. Le chanvre industriel, contenant moins de 0,3 % de THC, a des applications polyvalentes allant des textiles aux produits de bien-être.
Flora, avec sa présence établie dans le domaine des cannabinoïdes de chanvre, est bien positionnée pour entrer sur le marché allemand. L'entreprise prévoit de tirer parti de son expertise en extraction de cannabinoïdes et en développement de produits, offrant une gamme de produits de chanvre de haute qualité et à faible teneur en THC sous ses marques JustCBD et Vessel. Le PDG Clifford Starke a exprimé son enthousiasme pour le potentiel du marché européen du chanvre et l'engagement de Flora à étendre son empreinte internationale.
Flora Growth Corp. (NASDAQ: FLGC) begrüßt die neue Gesetzgebung für industrielle Hanf in Deutschland, die den Anbau liberalisiert und neue Möglichkeiten für die Branche schafft. Der aktualisierte regulatorische Rahmen, vorgestellt von Minister Cem Özdemir, hebt die restriktive 'Missbrauchsklausel' auf und vereinfacht den Weg für die Produzenten. Industrieller Hanf mit weniger als 0,3% THC hat vielseitige Anwendungsmöglichkeiten, die von Textilien bis zu Wellness-Produkten reichen.
Flora, mit ihrer etablierten Präsenz im Bereich der Hanf-Cannabinoide, ist gut positioniert, um in den deutschen Markt einzutreten. Das Unternehmen plant, seine Fachkenntnisse in der Cannabinoid-Extraktion und Produktentwicklung zu nutzen, um eine Reihe hochwertiger, THC-armer Hanfprodukte unter den Marken JustCBD und Vessel anzubieten. CEO Clifford Starke äußerte Begeisterung über das Potenzial im europäischen Hanfmarkt und Flora's Engagement für die Erweiterung ihrer internationalen Präsenz.
- New German legislation creates opportunities for industrial hemp cultivation and commercialization
- Flora is well-positioned to enter the German market with its established hemp cannabinoid expertise
- The company plans to offer its JustCBD and Vessel brand products in Germany
- Potential for expansion in the European hemp market
- None.
Insights
Germany's new industrial hemp legislation represents a significant shift in the European cannabis landscape. This move aligns with broader trends of cannabis liberalization across Europe, potentially creating a domino effect for neighboring countries. The removal of the "abuse clause" and streamlined regulations could lead to a surge in hemp cultivation and product development.
For Flora Growth Corp., this presents a strategic opportunity to leverage its existing expertise in a newly accessible market. The company's experience with JustCBD and Vessel brands positions it well to capitalize on the expected increase in consumer demand for hemp-derived products. However, investors should note that market entry and establishing a foothold in Germany will require significant resources and may impact short-term financials.
While the potential is substantial, Flora will face competition from both local and international players rushing to enter the German market. The company's success will depend on its ability to differentiate its products and establish strong partnerships with local distributors. Investors should monitor Flora's execution in this new market as an indicator of its international expansion capabilities.
Fort Lauderdale, Florida--(Newsfile Corp. - October 9, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") commends the German government's recent approval of new legislation aimed at liberalizing the cultivation of industrial hemp. Introduced by Cem Özdemir, Germany's Minister of Food and Agriculture, the updated regulatory framework will create new opportunities for the cultivation and commercialization of industrial hemp. The legislation, passed with broad support, removes the previously restrictive "abuse clause" and provides a more streamlined path for industrial hemp producers.
Industrial hemp, unlike cannabis used for recreational purposes, contains less than
As an established player in the hemp cannabinoid space, Flora is well-positioned to capitalize on these regulatory changes. The company has built a robust portfolio of hemp-derived products, including those under its JustCBD and Vessel brands, which have experienced success in North America and beyond. Flora's proprietary cannabinoid expertise will enable the company to quickly enter the German market, offering a range of high-quality, low-THC hemp products tailored to the needs of German consumers.
"We believe that Germany's progressive move to liberalize industrial hemp cultivation marks a pivotal moment for the European hemp industry," said Clifford Starke, Chairman and Chief Executive Officer. "As a company with deep experience in cannabinoid extraction and product development, we are excited to bring our expertise to Germany, helping to drive innovation and growth in this newly accessible market."
"The removal of the 'abuse clause' and the simplified regulatory environment will unlock opportunities for producers and innovators alike," continued Mr. Starke. "We see potential in the European hemp market, and our plans to enter Germany reflect our broader commitment to expanding Flora's footprint in key international markets."
Flora is actively monitoring the finalization of the new hemp regulations and is engaging with local partners to ensure a smooth and compliant entry into the German cannabinoid market. The company anticipates consumer demand for its portfolio of hemp lifestyle products as the market develops in the coming months.
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 include: Flora's plans to leverage expertise for market entry or at all, the new German legislation creating new opportunities for cultivation and commercialization of industrial hemp, allowing for greater ease in cultivation, processing and distribution, bolstering Germany's growing hemp industry, Flora being well-positioned to capitalize on these regulatory changes, Flora's proprietary cannabinoid expertise enabling it to quickly enter the German market or at all, offering a range of high-quality, low-THC hemp products tailored to the needs of Germany consumers or at all, the new regulations marking a pivotal moment for the European hemp industry, Flora driving innovation and growth in the new market, the removal of the 'abuse clause' unlocking opportunities for producers and innovators alike, Flora entering the new market in a smooth and compliant manner or at all, and there being consumer demand for Flora's portfolio of hemp lifestyle products. 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/226095
FAQ
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