Flora Growth Corp. (NASDAQ: FLGC) Receives Fair Value Estimate, Coverage from Argus Research Company; Developing Growth Opportunities by Columbia’s Cannabis Law, Headquarter Relocation

August 9, 2021 13:54:28
  • Flora Growth Corp recently received coverage from Argus Research, which gives the company’s stock a fair value estimate of $7.50 against the $3.24 recorded July 20
  • Argus also projects that Flora’s revenue would increase to $9 million in 2021 and $31 million in 2022, up from $0.1 million reported in 2020
  • Flora received a boost in its operations when Colombia’s president accepted and signed reforms to the existing cannabis legislation
  • The updated law allows for the manufacture, sale and export of psychoactive (high-THC) cannabinoid ingestible and medical products and removes marketing limitations on cannabis products in Colombia
  • Flora is also planning to relocate its headquarters to Miami by Q1 2022
Founded in 2019 and leveraging low-cost cannabis cultivation, an expansive brand and product portfolio, and a strategic global distribution platform, Flora Growth Corp. (NASDAQ: FLGC), an internationally focused cannabis consumer packaged goods company, was featured in a recently released equity research report by Argus Research Company (https://cnw.fm/FPYYe). Argus believes Flora is attractively valued relative to its peers based on its low-cost structure, robust brand portfolio and growing worldwide distribution. It further offers its stock a fair value estimate of $7.50 per share, more than 100% above the $3.24 recorded on July 20. The valuation, calculated using… Read More>> 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.