Flora Growth Corp. Partners with Flowzz.com on E-Commerce Store

Rhea-AI Summary

Flora Growth Corp. (NASDAQ: FLGC) has partnered with Flowzz.com to establish a dedicated e-commerce store on the Flowzz Webshop, one of Germany's popular online cannabis marketplaces. This collaboration will integrate Flora's product line, including cannabis strains, flowers, and Vessel products, into the Flowzz platform. Flora will have exclusivity for accessories, cannabis seeds, cuttings, and seedlings.

Flowzz will manage the creation, maintenance, and marketing of the Flora Flowzz page, while Flora handles order fulfillment. This partnership aims to expand Flora's reach in the German market, which recently legalized recreational cannabis on April 1, 2024. With an estimated 4.5 million cannabis users in Germany as of February 2024, this collaboration positions Flora to capitalize on the growing European cannabis market.

Positive

• Exclusive partnership with Flowzz.com for e-commerce expansion in Germany
• Access to a broader audience through Flowzz's established platform
• Exclusive rights for accessories, cannabis seeds, cuttings, and seedlings
• Potential growth opportunity in the newly legalized German recreational cannabis market
• Leveraging Flowzz's e-commerce infrastructure and promotional strategies

Negative

• None.

Insights

E-commerce Strategist

This partnership with Flowzz.com marks a significant step for Flora Growth Corp. in expanding its digital presence in Germany's newly legalized cannabis market. The collaboration leverages Flowzz's established e-commerce infrastructure and customer base, potentially accelerating Flora's market penetration.

Key points to consider:

• Exclusive rights for accessories, seeds, cuttings and seedlings on Flowzz platform
• Integration of Flora's product line, including cannabis strains and Vessel products
• Flowzz's responsibility for page creation and marketing, while Flora handles fulfillment
• Potential for increased visibility and sales in the German market

However, investors should note that while this move positions Flora well in the growing German cannabis market, the impact on revenue and profitability remains to be seen. The success will depend on effective execution and consumer adoption rates in this newly legalized market.

Cannabis Market Analyst

The partnership between Flora Growth and Flowzz.com is strategically timed with Germany's recent legalization of recreational cannabis. This move positions Flora to capitalize on a market with significant growth potential:

• 0.28% of Germans were medical cannabis patients pre-legalization
• An estimated 4.5 million Germans use cannabis as of February 2024
• Projected 500% growth in European cannabis patients over the next five years

Germany's emergence as a leading cannabis market in Europe presents substantial opportunities for Flora. However, investors should be aware that the market is still in its infancy and competition is likely to intensify. Flora's success will depend on its ability to differentiate its products and effectively leverage Flowzz's platform to capture market share in this rapidly evolving landscape.

Fort Lauderdale, Florida--(Newsfile Corp. - October 8, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") is excited to announce a cooperation agreement with Flowzz.com, marking its expansion in the field German of e-commerce. This partnership will establish a dedicated Flora e-commerce store on the Flowzz Webshop, integrating a wide range of Flora's products into one of the most popular online cannabis marketplaces in Germany.  Flora will have exclusivity for accessories, cannabis seeds, cuttings and seedlings.

Under the agreement, Flora will showcase its comprehensive product line on the Flowzz platform. This includes existing shop items, cannabis strains, cannabis flowers, and Vessel products, which will now be easily accessible to customers through the Flowzz user-friendly interface. Flowzz will oversee the creation, ongoing maintenance, and marketing of the Flora Flowzz page, while Flora will manage all aspects of order fulfillment to ensure an enjoyable customer experience. The Flowzz e-commerce infrastructure and targeted promotional strategies will play a role in driving traffic to the Flora Flowzz page.

“German pharmacists, doctors and consumers have relied on Flowzz and its e-commerce engine to educate and purchase cannabis products. By leveraging the Flowzz advanced e-commerce platform, we can reach a broader audience and enhance our customer engagement in Germany. This partnership highlights our dedication to growth in the digital space,” said Clifford Starke, Chief Executive Officer.

Flowzz.com is a dynamic e-commerce platform specializing in the distribution of cannabis products, accessories, and wellness solutions across Europe. The platform contains detailed information about cannabis brands, prices, quantities and important qualitative information. Since its inception, it has gained recognition for its seamless shopping experience, product offerings, and a customer-centric approach. Flowzz has built an impressive portfolio of partnerships with cannabis brands and has distinguished itself as a trusted source for both medical and recreational cannabis products.

On April 1, 2024, Germany legalized recreational cannabis. With approximately 230,000 medical cannabis patients prior to legalization, Germany continues to lead the way in European medical cannabis. This only represents 0.28% of the German population. As of February 2024, it has been assessed that 4.5 million Germans use cannabis. Following Germany are Italy, the Netherlands, Poland, Denmark, and the Czech Republic, with the total number of cannabis patients in Europe estimated to be 500,000 in 2024, and growth of around 500% is expected over the next five years. With Germany emerging as one of the largest cannabis markets in the world, this regulatory shift is expected to fuel growth in both product demand and revenue opportunities. “This partnership aligns with our objective of offering high-quality cannabis products through an accessible online experience. We intend to work closely with Flowzz to deliver a new shopping experience for our customers in Germany,” concluded Mr. Starke.

About Flowzz.com

Flowzz.com is a leading online marketplace specializing in cannabis products, offering a comprehensive selection of high-quality items through an intuitive and user-friendly platform. Flowzz is dedicated to providing exceptional customer service and promoting the best products in the cannabis industry.

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.

https://justcbdstore.com/

https://www.vesselbrand.com/

https://justcbdstore.uk/

https://www.phatebo.de/home-en

https://www.australianvaporizers.com.au/

Investor Relations:

Investor Relations ir@floragrowth.com

Clifford Starke Clifford.Starke@floragrowth.com

Media:

media@floragrowth.com

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 forward-looking statements include, but are not limited to, statements about: the establishment of a dedicated Flora e-commerce store on the Flowzz website, the integration of a wide range of Flora’s products into the Flowzz network, Flora showcasing its product line on the Flowzz platform, Flora managing all aspects of order fulfillment, Flora having exclusivity for accessories, cannabis seeds, cuttings and seedlings with Flowzz, total number of cannabis patients in Europe estimated to be 500,000 in 2024, and growth of around 500% is expected over the next five years, Flowzz infrastructure and targeted promotional strategies playing a role in driving traffic to the Flora e-commerce store, Flora reaching a broader audience and enhancing customer engagement in Germany, and the Flora e-commerce store launchingSuch 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/225946

FAQ

What is the partnership between Flora Growth Corp (FLGC) and Flowzz.com?

Flora Growth Corp (FLGC) has partnered with Flowzz.com to establish a dedicated e-commerce store on the Flowzz Webshop, integrating Flora's product line into one of Germany's popular online cannabis marketplaces.

What products will Flora Growth Corp (FLGC) offer on the Flowzz platform?

Flora Growth Corp (FLGC) will offer its comprehensive product line, including cannabis strains, flowers, and Vessel products. They will have exclusivity for accessories, cannabis seeds, cuttings, and seedlings.

When did Germany legalize recreational cannabis, and how does it affect Flora Growth Corp (FLGC)?

Germany legalized recreational cannabis on April 1, 2024. This regulatory shift is expected to fuel growth in product demand and revenue opportunities for Flora Growth Corp (FLGC) in the German market.

How many cannabis users are estimated in Germany as of February 2024?

As of February 2024, it has been assessed that approximately 4.5 million Germans use cannabis.