Flora Growth Corp. (NASDAQ: FLGC), A Company Revolutionizing the Plant-Based Wellness and Lifestyle Industry

May 19, 2022 08:35:00
  • Flora Growth has been building a design-led collective of plant-based wellness and lifestyle brands
  • Through the work done by its pharma division, the company earned over $31.5 million in gross proceeds in the year ended November 2021
  • The company still maintains its revenue guidance projection of $35-45 million for 2022, attributed mainly to product diversification initiatives, strengthening its supply chain, and adoption of cost-effective cultivation practices

Since its inception, Flora Growth (NASDAQ: FLGC) has remained committed to building a design-led collective of plant-based wellness and lifestyle brands. This objective has defined Flora Growth’s three central pillars- wholesale cannabis, pharmaceutical cannabis, and CPG cannabis brands. Moreover, it has given the company and its management a platform to interact with and exchange ideas with other players in the plant-based wellness space, even as it seeks to grow its revenue through acquisitions and strengthening its distribution network.

Specifically, Flora Growth’s pharma division has been a leader in its sector. Headed by Dr. Annabelle Morgan-Manalo, a renowned neuroscientist, this division aims to understand the applicable modalities and formulations of cannabinoid-based products that offer the most bioavailable and efficient experiences for markets the world over. Through its work, the company has achieved significant growth, earning over $31.5 million in gross proceeds in the year ended November 2021.

The company’s President and Chief Executive Officer (“CEO”), Luis Merchan, has been keen to share his optimism about its future while acknowledging the strides that his company and each of its divisions have made so far. This was well reflected in the just-concluded Benzinga Cannabis Capital Conference, which ran from April 20-21, 2022, in Miami, where he spoke, as well as the Plant Medicine Week conference that was held from April 5-8, 2022, in Malta, where he was the keynote speaker (https://cnw.fm/Znuqg).

Flora Growth still maintains its revenue guidance projection of $35-45 million for the 2022 fiscal year, potentially a 4X growth from 2021. According to the company’s management, this growth will be primarily attributed to its product diversification initiatives, strengthening its supply chain, and its adoption of cost-effective cultivation practices (https://cnw.fm/QTnbx).

As it continues to curate a collection of consumer brands for key market segments in its space, Flora Growth continues to push the envelope from a research and marketing standpoint, showcasing opportunities in the plant-based wellness and lifestyle space, for which it is the arguable leader.

Going further into 2022, Flora seeks to maintain the momentum it started in 2021, from opening brick and mortar stores to distribution agreements with mainstream retail establishments. The company also seeks to further its market reach, as evidenced by its venture into the Colombian market through Tropi, the country’s largest food and beverage distributor.

For more information, visit the company’s website at www.FloraGrowth.com.

NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.