Flora Growth Corp. (NASDAQ: FLGC) recently reported that its board of directors had authorized the repurchase of up to $5 million of its outstanding common shares. “These recent developments highlight Flora management’s confidence in where the company is headed and its potential for growth as the year progresses. It also assures shareholders of the company’s commitment to driving shareholder value and exploring various opportunities to do so. As such, this only emphasizes Flora’s value as a good investment,” a recent article reads. “While making the announcement, Luis Merchan, Flora’s chairman and CEO, noted: ‘Flora continues to move assertively to execute its growth plans while simultaneously improving gross profit margins and reducing corporate expenses. We are confident in the company’s short, medium and long-term growth prospects based on our strong in-market brand portfolio together with our cultivation and export capabilities in life sciences research. The repurchase program affords us the opportunity to increase our ownership in our portfolio of high-quality brands through our shares, which in our view are trading well below NAV.’”
To view the full article, visit https://cnw.fm/WGhhX
About Flora Growth Corp.
Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands delivering the most compelling customer experiences in the world, one community at a time. As the operator of one of the most extensive 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 888-902-4192 (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.