Flora Growth Corp. (NASDAQ: FLGC) Eyeing Bonanza after Colombian President Changes Cannabis Law

Rhea-AI Summary

Flora Growth Corp. (NASDAQ: FLGC) has announced a new broadcast titled, “Colombia Challenges Canadian Cannabis Dominance.” The recent changes in Colombia's cannabis regulations allow for the export of dried cannabis flowers, expanding opportunities in various markets like food, beverages, and cosmetics. President Duque stated this will enhance Colombia's regulatory competitiveness. Flora, with its focus on cannabis cultivation in Colombia, stands to benefit from these developments, particularly due to its low production costs and potential for substantial sales in mature markets.

Positive

• New Colombian law permits the export of dried cannabis flowers, expanding market opportunities.
• Colombia's regulatory changes place it in a competitive position against Canadian cannabis producers.
• Flora Growth's cultivation operations may benefit from low production costs, driving potential sales growth.

Negative

• None.

NEW YORK, Aug. 13, 2021 (GLOBE NEWSWIRE) -- NetworkNewsAudio – Flora Growth Corp. (NASDAQ: FLGC) announces the availability of a broadcast titled, “Colombia Challenges Canadian Cannabis Dominance.”

To hear the AudioPressRelease, please visit: The NetworkNewsAudio News Podcast

To view the full editorial, please visit: https://nnw.fm/p1UWI

Near-perfect growing conditions, skilled labor and friendly regulations have underscored Colombia’s emergence in the legal cannabis space since the country first allowed the production of medical cannabis just over five years ago. However, until now, dried cannabis flower, or buds, could only be processed for export as a medicinal oil or extract for fear that flowers would find their way to the black market. The new law puts Colombia “at the forefront in terms of regulatory competitiveness,” according to President Duque, adding that his country will now participate in new markets, including food, beverages, cosmetics, and textiles, in addition to pharmaceuticals. . .

These circumstances may play right into the hands of Flora Growth Corp. (NASDAQ: FLGC), which is focused on cannabis cultivation and processing operations in Colombia to supply international markets. The new decree could prove to be a bonanza for established licensed producers, especially when considering the extremely low production costs and that dried cannabis flower represents the majority of sales in countries with mature markets, such as the United States, Germany, United Kingdom, and Australia.

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.

For more information about this company, visit www.FloraGrowth.ca or follow @floragrowthcorp on social.

NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://ibn.fm/FLGC

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FAQ

What is the significance of Colombia's new cannabis law for FLGC?

Colombia's new cannabis law allows the export of dried cannabis flowers, potentially benefiting FLGC by opening new markets.

How does Colombia's cannabis regulation affect the market competitiveness of FLGC?

The new regulations enhance Colombia's competitiveness in the cannabis market, posing challenges to Canadian producers and providing FLGC with growth opportunities.

What markets can FLGC enter due to the new Colombian cannabis law?

The new law enables FLGC to enter markets such as food, beverages, cosmetics, and pharmaceuticals.

How may low production costs benefit Flora Growth Corp.?

Flora Growth Corp. may capitalize on low production costs to enhance profitability and increase sales in international markets.