Flora Growth Corp. (NASDAQ: FLGC) in Prime Position to Benefit from Colombian Legislative Change

Rhea-AI Summary

Flora Growth Corp. (NASDAQ: FLGC) has been featured in an editorial by NetworkNewsWire, highlighting Colombia's emergence as a competitor in the global cannabis market. Following a legislative decree on July 23, 2021, Colombia has ended the prohibition on exporting dried cannabis flower, aiming to capitalize on its established infrastructure for cannabis products. This shift presents significant opportunities for Flora Growth, which operates one of the largest outdoor cultivation facilities and focuses on cost-effective, sustainable practices to produce high-quality cannabis derivatives.

Positive

• Legislative changes in Colombia allowing dried cannabis flower exports enhance market opportunities for Flora Growth.
• Flora Growth operates one of the largest outdoor cultivation facilities, positioning it well to benefit from Colombia's new export regulations.
• The company's focus on natural, cost-effective cultivation practices supports sustainable production and premium product offerings.

Negative

• None.

NEW YORK, Aug. 11, 2021 (GLOBE NEWSWIRE) -- via InvestorWire — Flora Growth Corp. (NASDAQ: FLGC) today announces its placement in an editorial published by NetworkNewsWire ("NNW"), one of 50+ trusted brands within the InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities.

To view the full publication, “Colombia Challenges Canadian Cannabis Dominance,” please visit: https://nnw.fm/p1UWI

In 2020, Canada became the largest exporter of dried cannabis flower in the world. Today, Canada is looking over its shoulder at a formidable competitor in Colombia, which recently instigated some legislative changes that position the country to become the global cannabis leader. Colombia was already recognized for its robust infrastructure, distribution and exports of certain cannabis products such as medicinal oils and extracts, but the country had a gaping hole in exports by keeping dried cannabis flower strictly verboten.

That hole was filled on July 23, 2021, when Colombian President Ivan Duque signed a legislative decree ending the prohibition on the export of dried cannabis flower — a significant global market and a potential windfall for Flora Growth Corp. (NASDAQ: FLGC) and its expansive global operations.

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

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness.

NNW is where news, content and information converge.

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NetworkNewsWire (NNW)
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Editor@NetworkNewsWire.com

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FAQ

What recent changes in Colombia's cannabis export laws affect FLGC?

On July 23, 2021, Colombia lifted the prohibition on exporting dried cannabis flower, positioning itself as a competitor in the global market, which benefits Flora Growth Corp.

How does Flora Growth Corp. plan to leverage Colombia's cannabis market?

Flora Growth intends to utilize its large outdoor cultivation facility and cost-effective practices to capitalize on the new export opportunities created by Colombia's legislative changes.

What is the significance of the editorial featuring Flora Growth Corp. in NetworkNewsWire?

The editorial highlights Flora Growth's potential in the growing cannabis market due to Colombia's new export regulations, showcasing its strategic position in the industry.