- Flora Growth recently participated in an earnings call in which the management team discussed the company’s financials as well as its growth strategy and outlook for the remainder of fiscal 2022 as well as 2023
- The company noted it had exited a period of investment and is now focusing on execution
- The period of investment saw the company acquire synergistic brands that, collectively, create a direct-to-consumer house of brands, enabling the company to enter nearly any target market regardless of the legal status of cannabis
- The company also invested in the infrastructure necessary for the activation of its cultivation facility in Colombia, enabling it to progressively capitalize on new market opportunities that accompanied the legalization of the export of cannabis flower
The start of the second half of fiscal 2022 on July 1 marked an important transition point for Flora Growth (NASDAQ: FLGC), an internationally focused cannabis brand builder on a mission to build a design-led collective of plant-based wellness and lifestyle brands. The company, which had previously focused on expansion driven by acquisitions and other forms of capital-intensive investments, had now entered a period of execution, as CFO Elshad Garayev and CEO Luis Merchan separately emphasized in their presentations during the company’s H1 2022 earnings call held August 15 (https://cnw.fm/mWXcN).
This ongoing execution phase rests on a solid foundation built on a bed of strategic investment strategies that were markedly different from industry peers, according to Jason Warnock, Flora Growth Chief Commercial Officer. The initial thinking by a majority of companies entering a new cannabis…
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC
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