On August 23rd, Flora Growth Corp. (NASDAQ:FLGC) reported results and provided a business update.
Flora Growth is an emerging cannabis company focused on cultivating, processing and supplying medicinal-grade cannabis and related products globally. The company is pursuing an ambitious growth strategy, building an ecosystem to support multiple consumer categories of cannabis, plant-based wellness merchandise and lifestyle brands. The company has operations in Colombia, including a 249-acre farm that enables all-outdoor cultivation activities and a processing laboratory in Fort Lauderdale, Florida. Flora recently reorganized its laboratory facilities.
As per the recent press release, Flora’s growth strategy also has a favorable regulatory tailwind in Colombia. The company believes that 2021 was transformational as it concluded certain supplier, vendor and distribution agreements, strengthened the balance sheet and executed on its complementary M&A strategy that is expected to broaden the company’s product portfolio and distribution and accelerate revenue growth.
So could FLGC benefit from the cannabis legalization ? Watch the video below to get an insight
