Flora Growth Congratulates Colombia’s Pro-Cannabis President-Elect

Flora Growth Congratulates Colombia’s Pro-Cannabis President-Elect
CANNANNEW REPORT

FORT LAUDERDALE, Fla. & TORONTO–(BUSINESS WIRE)–Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, congratulates Gustavo Petro and the Humane Colombia Party on their election victory in Sunday’s presidential runoff election in Colombia. “We would like to congratulate President-Elect Gustavo Petro on his victory and we look forward to working with the new government to continue Colombia’s progressive momentum in the global cannabis industry,” said Luis Merchan, Flora’s Chairman and CEO. Merchan added, “We are encouraged by President-Elect Petro’s stance on seeing Colombia become a leader in the legal cannabis industry and we are hopeful for progressive legislation that will allow Colombia to create a safe environment for cannabis consumption domestically – potentially leading to a recreational market in the country – while also proving Colombia has all the environmental and labor conditions necessary to be a global cannabis powerhouse.” Prior to his election win, Gustavo Petro was quoted stating: “The possibility of exportation of marijuana for recreational and medicinal purposes is the right of the Colombian people. It would be a historical paradox that after the war on drugs is over, other countries get to benefit from a business that will bring billions of dollars of economic benefit.” President-Elect Petro is currently a sitting member of the Colombian Senate and served as Mayor of Bogotá, the Capital of Colombia and headquarters of Flora Growth’s Colombian operations. “While approximately 90% of Flora’s forecasted revenue is expected to be derived outside of Colombia, we see Colombia as particularly well suited both for production of high-quality, cost-advantaged cannabis and the manufacturing of cannabinoid-derived medical formulations that can be sold domestically and internationally,” said Jason Warnock, Chief Commercial Officer at Flora Growth. Flora Growth operates a 249-acre cannabis cultivation, extraction…

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Source : Flora Growth Congratulates Colombia’s Pro-Cannabis President-Elect

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