Flora Unveils Element, Revolutionizing Glass Bubbler

Rhea-AI Summary

Flora Growth Corp. (NASDAQ: FLGC) has launched Element, a new glass and brass bubbler through its premium lifestyle brand, Vessel. The innovative water pipe, designed in California, features durable brass, anodized aluminum, and borosilicate glass construction. Element retails for $149 and can hold up to two grams of cannabis. The product includes superior aeration and percolation filters for enhanced user experience, comes apart into 6 pieces for easy cleaning, and includes a carry case.

Additionally, Vessel has introduced Hub and Apex, a carry case and charging dock for their Compass Rise 510 battery.

Positive

• Product diversification with launch of new premium accessory line
• Expanding distribution through retail partners and direct sales channels
• Strategic pricing at $149 positions product in premium segment

Negative

• None.

Insights

Product Development Analyst

The launch of Element represents a modest product expansion in Flora Growth's accessories portfolio but is unlikely to materially impact the company's financial performance. While the $149 price point positions it in the premium segment, several factors limit its potential impact:

• The addressable market for premium herb accessories is relatively niche
• Significant competition exists in the smoking accessories space
• No projected sales figures or market size data were provided
• Flora's small market cap of $16M suggests distribution capabilities

The simultaneous launch of complementary products (Hub and Apex) indicates a coordinated product strategy, but without revenue projections or market penetration goals, the business impact remains speculative. This appears to be an incremental product launch rather than a transformative business development.

Fort Lauderdale, Florida--(Newsfile Corp. - November 21, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") is proud to announce the launch of Element, the latest innovation from its premium lifestyle brand, Vessel. A first-of-its-kind glass and brass bubbler, Element is a cutting-edge addition to Vessel's product lineup.

"The Element is a product that exemplifies our dedication to pushing the boundaries of what is possible in the lifestyle accessories space," said Clifford Starke, Chairman and Chief Executive Officer.

Element is a water pipe for dry herb connoisseurs designed in California and engineered with quality materials such as durable brass, anodized aluminum, and impact and heat-resistant borosilicate glass - giving it a longer lifespan. It is made to fit up to two grams of cannabis. It has superior aeration and percolation filters and cools for purer, smoother, more flavorful hits. Element is ergonomically shaped to fit comfortably in your hand, providing a natural and effortless grip during use. Element comes apart into 6 pieces for quick and easy cleaning and comes with a carry case. This makes maintenance a breeze and prevents clogging.

Element will be available for purchase through Vessel's extensive network of retail partners as well as directly on the Vessel website, catering to a diverse customer base. It retails for $149.

"Launching the Element is about understanding what our customers truly desire," Mr. Starke continued. "In an industry that is evolving rapidly, staying ahead of trends and consumer preferences is crucial. Element reflects our forward-thinking approach, and we believe it will quickly become a must-have item for those who appreciate high-quality design and performance."

In addition to Element, Vessel recently introduced Hub and Apex, a carry case and charging dock designed to complement the newly released Compass Rise 510 battery. These latest additions to the Vessel lineup further demonstrate the brand's commitment to blending of utility and aesthetics, catering to the modern consumer.

Flora is committed to driving innovation and delivering a steady pipeline of products that meet evolving consumer demands. With a clear vision for the future, the company is focused on robust project development, ensuring a continuous stream of new launches that set industry standards.

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. Such 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/230840

FAQ

What is Flora Growth's (FLGC) new Element product?

Element is a glass and brass bubbler water pipe launched by Flora Growth's Vessel brand, featuring durable brass, anodized aluminum, and borosilicate glass construction, with a capacity for up to two grams of cannabis.

How much does Flora Growth's (FLGC) Element bubbler cost?

The Element bubbler from Flora Growth retails for $149.

What are the key features of Flora Growth's (FLGC) Element bubbler?

Key features include superior aeration and percolation filters, 6-piece disassembly for easy cleaning, ergonomic design, durable materials, and an included carry case.

Where can I buy Flora Growth's (FLGC) Element bubbler?

The Element bubbler is available through Vessel's retail partner network and directly on the Vessel website.