Flora Growth Corp. (NASDAQ: FLGC), a global cannabis cultivator, product manufacturer and distributor, is measuring its success in rapidly rising revenues brought on by strategic acquisitions and the expanding international movement of its brands. “The company recently reported a 604% increase YoY in its H1 revenues to about $15 million, which was also a 117% increase over the previous half-year financial report, and is anticipating new momentum from the recent acquisition of the No Cap Hemp Co. brand by Flora’s wholly owned subsidiary Just Brands LLC. The No Cap acquisition is expected to add some 75 SKUs to Flora’s product portfolio plus the ‘No Cap’ and ‘Moonblunt’ trademarks… Flora Growth Chairman and CEO Luis Merchan anticipates that the acquisition of No Cap’s brands will ultimately position Flora as the leader in the alternative cannabinoid market segment and that No Cap’s infusion technology will boost Flora Labs’ manufacturing capabilities,” a recent article reads. “This transaction will allow Flora to immediately benefit from a profitable, cash flow positive and growing business. We look forward to increasing our product offering through this transaction while broadening our sales team in the process,” Merchan is quoted as saying.
To view the full article, visit https://cnw.fm/2Hnxa
About Flora Growth Corp.
Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands, designed to deliver 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 commercial, house of brands and life sciences divisions. Visit www.FloraGrowth.com or follow @floragrowthcorp on social media for more information.
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC
CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.
To receive instant SMS alerts, text “CBDWire” to 844-397-5787 (U.S. Mobile Phones Only)
For more information please visit https://www.cbdwire.com
Do you have questions or are you interested in working with CNW? Ask Our Editor
CBDWire is part of the InvestorBrandNetwork.