Flora Growth’s Newly Acquired JustBrands Appointed to Board of Directors at the US Hemp Roundtable

Rhea-AI Summary

Flora Growth Corp. (NASDAQ: FLGC) announced that its acquired subsidiary, JustBrands LLC (JBL), has been appointed as a Director to the US Hemp Roundtable. This non-profit organization advocates for the hemp industry, having previously contributed to significant legislation such as the 2018 Farm Bill. Flora's Chief Commercial Officer will visit Washington, D.C. to engage with government officials and discuss legislative challenges. This move illustrates Flora's commitment to enhancing market access for hemp and CBD products in the U.S.

Positive

• JustBrands LLC's appointment as a Director to the US Hemp Roundtable enhances Flora's industry influence.
• Increased opportunity for Flora to advocate for favorable legislation affecting the hemp market.

Negative

• None.

• JustBrands named a Director to the US Hemp Roundtable, a non-profit organization behind the drafting and passage of some of the hemp industry’s most significant legislation
• Flora will send a representative to Washington, D.C. this week to meet with US government officials and other US Hemp Roundtable members to discuss pressing legislative issues facing the hemp industry
• Designation to US Hemp Roundtable demonstrates Flora’s focus on important, rapidly growing US markets

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 that its newly acquired JustBrands LLC (“JBL”) has been selected as a Director to the US Hemp Roundtable, a non-profit lobbying organization designed to exclusively work toward “enhancing, advancing and improving economic and business conditions for the hemp industry.” JBL houses leading wellness brand JustCBD.

“We are honored and humbled to have JBL named as a Director to the US Hemp Roundtable, a well-respected non-profit organization, to work on lobbying in Washington D.C., and help move forward successful legislation regarding hemp and CBD in the US Congress,” Flora CEO Luis Merchan said. “JustCBD is a major US brand with a large footprint, and JBL’s addition to the US Hemp Roundtable demonstrates Flora’s commitment to expanding access to CBD and hemp here in the US.”

Flora will be sending Chief Commercial Officer Jason Warnock to Washington, D.C., this week to meet with government officials and other US Hemp Roundtable members to discuss several of the most pressing legislative issues facing the US hemp and CBD industries.

The US Hemp Roundtable is one of the leading trade and lobbyist organizations in the industry, having helped draft or move forward some of the most important legislation for the hemp industry. Such bills include the 2018 Farm Bill, which federally legalized hemp, and H.R. 841 and S. 1698 in the US House and US Senate respectively, which would allow for the sale of hemp-based CBD products as dietary supplements under regulations from the US Food and Drug Administration (FDA).

“JBL is proud to join the US Hemp Roundtable and work to continue the organization’s great work to further the burgeoning hemp industry,” said the company’s founder and CEO Hussein Rakine. “As one of the leading US brands, we’re excited to work with other members to help shape the future and promote a regulated market for safe, high-quality hemp-based CBD products.”

The US Hemp Roundtable is made up of General Members and Director Members – JBL was named a Director Member. The US Hemp Roundtable was founded in 2017 with two principal missions; The pursuit of federal legislation to permanently legalize hemp, and subsequent laws and regulations to protect and expand the industry; and the development and implementation of a self-regulated organization to promote confidence in the business of the emerging agricultural commodity.

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands designed to deliver one of 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: expected future revenue, the proposed acquisition of Vessel; Vessel’s financial performance; our financial performance and projections; our growth in revenue and earnings; 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.

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Investor Relations:

James Williams

james.williams@floragrowth.com

Public Relations:

Cassandra Dowell

+1 (858) 264-6600

flora@cmwmedia.com

Source: Flora Growth Corp.

FAQ

What is the significance of JustBrands being named a Director to the US Hemp Roundtable?

JustBrands' appointment positions Flora Growth Corp. to influence legislation and policies affecting the hemp industry.

What legislative issues will Flora discuss in Washington D.C.?

Flora will address pressing legislative issues affecting the hemp and CBD industries.

How does JustBrands' new role benefit Flora Growth Corp.?

It strengthens Flora's commitment to expanding access to hemp and CBD products in the U.S.

What past legislation has the US Hemp Roundtable contributed to?

The US Hemp Roundtable has helped draft the 2018 Farm Bill and other significant regulations for the hemp industry.