Flora Growth Completes Successful First Cannabis Extraction Through New Facility, Initiates EU-GMP Certification Process

CANNANNEW REPORT

Flora’s cultivation and extraction division, Cosechemos, completed construction of a 10,500 ft2 state-of-the-art post-harvest and extraction facility with annual capacity of 15,000 L of distillate The first batch of crude oil has been extracted, where the product was submitted to the Colombian Government to obtain Flora’s 2022 quota for High-THC derivatives, building on Flora’s existing quota of 7,900 kg of dried High-THC flower Cosechemos has initiated the pre-audit process for EU-GMP certification, which will enable export of medical-grade cannabis derivatives to international markets when paired with its existing GACP certification 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 wholly owned subsidiary, Cosechemos, has produced the first batch of crude oil through its newly constructed extraction facility. Further, Cosechemos has initiated the process to become EU-GMP certified. The completed facility will serve as the Company’s primary processing hub, facilitating the drying and processing of Flora’s all-outdoor cultivated flower into finished, packaged dry flower and extracted material for domestic production and export to wholesale cannabis markets. In December of 2021, Flora’s laboratory quality assurance and regulatory team completed the installation and testing of all extraction equipment. The team successfully extracted the first batch of High-THC crude oil, where the product was submitted to the Colombian Government to obtain Flora’s 2022 quota for THC derivatives. At this time, the team is continuing commercial CBD extraction. With this major milestone complete, the company has initiated pre-audit work for the completion of the EU-GMP certification. Upon receipt of EU-GMP certification, and when paired with Flora Growth’s recent Good Agricultural and Collection Practices (GACP) certification, Flora will be positioned to target international medical cannabis markets. Flora intends on leveraging its cost advantage – with the Company’s…

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