Flora Growth Corp. (NASDAQ: FLGC) in Prime Position as Colombia Eyes Role as Cannabis Market Leader
Flora Growth Corp. (NASDAQ: FLGC) recently highlighted significant advancements in the Latin American cannabis market, particularly Colombia's authorization for dried cannabis flower exports for medical use, a game-changing move enacted through Decree 811 on July 23, 2021.
This positions Colombia as a potential market leader in cannabis exports. Furthermore, Flora Growth, which went public in May, operates one of the largest outdoor organic cannabis cultivation facilities in Colombia, benefiting from lower production costs, thus aiming to deliver high-quality products at competitive prices.
- Colombia authorized exports of dried cannabis flower for medical use, enhancing market potential.
- Flora Growth is the first traditional cannabis company to IPO on Nasdaq, indicating investor confidence.
- The company operates one of the largest outdoor organic cannabis cultivation facilities, reducing production costs.
- None.
NEW YORK, Oct. 01, 2021 (GLOBE NEWSWIRE) -- NetworkNewsAudio – Flora Growth Corp. (NASDAQ: FLGC) announces the availability of a broadcast titled, “Latin America, Not US, Spearheading Advancements in Global Cannabis Markets.”
To hear the AudioPressRelease, please visit: The NetworkNewsAudio News Podcast
To view the full editorial, please visit: https://nnw.fm/2cRGl
Perhaps the biggest news of the summer out of LATAM arrived in July when Colombia authorized exports of dried cannabis flower for medical use, bookending about five years’ worth of legislative changes favoring legal cannabis. Colombia had already established cannabis infrastructure by allowing production, distribution, and exports of many cannabis goods, including seeds and derivatives such as ointments, but the country had held exporting dried flower – far and away the most popular version of the plant – as verboten. Decree 811, issued July 23, 2021, changed that, making the country’s intentions clear to be a market leader.
Flora Growth (NASDAQ: FLGC) has the distinction of being the first traditional cannabis company to IPO on the Nasdaq exchange, successfully completing its initial public offering in May. It also has the distinction of operating one of the largest outdoor, organic cannabis cultivation facilities in Colombia, where it benefits from production costs that are markedly lower than industry averages.
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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