Flora Growth (NASDAQ: FLGC), a consumer-packaged goods leader and pharmaceutical distributor, has released a statement regarding the German government’s recent approval of new legislation designed to liberalizing the cultivation of industrial hemp. According to the announcement, the updated regulations, which were passed with wide support, were introduced by Cem Özdemir, Germany’s minister of Food and Agriculture. The legislation removes a restrictive “abuse clause” and oulines a more streamlined path for industrial hemp producers. The company is currently working with local partners as it works toward a smooth and compliant entry into the German cannabinoid market.
“We believe that Germany’s progressive move to liberalize industrial hemp cultivation marks a pivotal moment for the European hemp industry,” said Flora Growth CEO and chair Clifford Starke in the press release. “As a company with deep experience in cannabinoid extraction and product development, we are excited to bring our expertise to Germany, helping to drive innovation and growth in this newly accessible market. . . . The removal of the ‘abuse clause’ and the simplified regulatory environment will unlock opportunities for producers and innovators alike.”
To view the full press release, visit https://cnw.fm/IQbEY
About Flora Growth Corp.
Flora Growth is on a mission to become the leading NASDAQ small-cap international cannabis company. It is a cannabis-focused, consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000-plus points of distribution around the world. For more information about the company, please visit www.FloraGrowth.com.
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://ibn.fm/FLGC
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