Flora Growth Names Vessel Founder, James Choe, Chief Strategy Officer

Rhea-AI Summary

Flora Growth Corp. (NASDAQ: FLGC) announced the appointment of James Choe as Chief Strategy Officer, enhancing its executive team following the acquisition of Vessel, a premium cannabis consumption brand. Choe, an experienced entrepreneur, aims to strengthen Flora's focus on people, design, and community within the cannabis market. The CEO, Luis Merchan, expressed excitement over Choe's leadership and vision for the company's future. Additionally, a webinar led by Merchan on February 11 at 1 PM EST will cover CBD opportunities in North America, Latin America, and the EU.

Positive

• Appointment of James Choe as Chief Strategy Officer, strengthening executive leadership.
• Acquisition of Vessel enhances Flora's position in the North American cannabis market.
• Choe's focus on people-first culture and operational excellence may improve overall company performance.

Negative

• None.

Flora Growth webinar with CEO Luis Merchan on February 11th at 1 pm EST where he will discuss the Company’s perspective on CBD and the Global Market. Register here.

MIAMI & TORONTO--(BUSINESS WIRE)-- Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, announced today the addition of Vessel founder and CEO, James Choe, to its executive team.

Choe began his career in tech, experiencing the boom and bust of the early internet. Drawn to his life-long passion for sports, Choe pivoted and spent the better part of two decades representing athletes, building sports performance products and brands, and building out a consultancy that ultimately opened the door to new opportunities beyond athletics. Choe’s varied career has given him exposure to nearly every major industry and has afforded him the opportunity to consult for over one hundred brands and launch over four hundred products into market. Through his time consulting for leading brands, cannabis producers and Fortune 500 companies, the role of people in the success of an organization was crystalized. It is through this lens that Choe takes on the role of Chief Strategy Officer of Flora where he will focus on the development of three core pillars - people, design, and community.

“I want Flora to be the most thoughtful organization in the industry - how we think translates into the energy we bring to how we deliver on our promises as a company,” said Choe. “At Flora, we are building a unique value proposition and are capable of far more than what's been done to date in the industry. I welcome the opportunity to pave the way for the future of cannabis by protecting our people-first organization, by being relentless in our pursuit of designing better experiences and by developing a culture of operational excellence that allows us to deliver on our global initiatives.”

“We are excited not only to have added an incredible company like Vessel to our brand portfolio but to be welcoming such a skilled entrepreneur as James Choe to our executive team,” said Luis Merchan, CEO of Flora Growth. “James brings an unparalleled passion to the organization. He has always been a people-first leader and his ability to craft a company culture and strategy built in service of the team has already started to create tangible results. We look forward to him growing his contributions.”

Founded by Choe in 2018, Vessel is an industry leader in premium cannabis consumption technology and accessories. With a focus on sustainability and enhancing the cannabis consumption experience, Vessel has quickly made a name in North America. Vessel was acquired by Flora in late 2021 and brings proven go-to-market strategy and brand-building expertise to the team. Vessel now represents a meaningful foothold for Flora in the North American market and is primed for global expansion through Flora’s various distribution channels.

Event Announcement: Join Luis Merchan, CEO of Flora Growth (NASDAQ: FLGC), February 11th at 1 pm EST, for the first of our State of Play series - CBD And The Global Market. We'll explore the opportunities and challenges that lie ahead for the CBD industry in North America, Latin America and the EU. Register here.

About Flora Growth Corp.

Flora is building a design-led collective, of plant-based wellness and lifestyle brands, that delivers the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. Visit www.floragrowth.com or follow @floragrowthcorp on social for more information.

Cautionary Statement Concerning Forward-Looking Statements

This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: the size of markets for cannabis and cannabis products; Flora’s ability to execute on its research and pharmaceutical strategies; the results of Flora’s research; the collaboration with third parties; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, or the forward-looking events discussed in this document and other statements made from time to time by us or our representatives not occurring, except as may be required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220208005625/en/

Investor Relations:

Evan Veryard

evan.veryard@floragrowth.com

Public Relations:

Cassandra Dowell

+1 (858) 264-6600

flora@cmwmedia.com

Source: Flora Growth Corp.

FAQ

What did Flora Growth announce on February 8, 2022?

Flora Growth announced the appointment of James Choe as Chief Strategy Officer and the acquisition of Vessel.

What is the significance of James Choe's appointment for Flora Growth?

Choe's appointment is expected to enhance Flora's leadership and strategic direction, focusing on people, design, and community.

When is the Flora Growth webinar on CBD and the global market?

The webinar is scheduled for February 11, 2022, at 1 PM EST.

How does the acquisition of Vessel impact Flora Growth?

The acquisition of Vessel provides Flora with a strong foothold in the North American market and opportunities for global expansion.

What will be discussed in the February 11 webinar hosted by Flora Growth?

The webinar will explore opportunities and challenges in the CBD industry across North America, Latin America, and the EU.