Flora Growth (NASDAQ: FLGC), a consumer-packaged goods leader and pharmaceutical distributor, is reporting on its financial and operating results for the three- and six-month ended June 30, 2024. “In the second quarter of 2024, we at Flora, demonstrated an aptitude to make accretive acquisitions and form strategic partnerships to capitalize on the most robust market trends,” said Flora Growth CEO Clifford Starke in the press release. “In Germany, we acquired TruHC Pharma GmbH in response to the descheduling of cannabis, the reforms surrounding cultivation for personal use, the establishment of cannabis social clubs, and the removal of cannabis from the list of prohibited substances in the Narcotics Act. In the United States, we entered a joint venture with Althea Group Holdings to capitalize on the rapid growth in the beverages market. In Australia, we acquired Australian Vaporizers to expand our e-commerce foothold and Vessel’s reach. Our operating expenses and cash flows used in operating activities have decreased notably across the board compared to the prior period. We ended the quarter with cash of $6.1 million and set the stage for a wide array of financing alternatives to further fuel our business plan.”
To view the full press release, visit https://ibn.fm/EvxOA
About Flora Growth Corp.
Flora Growth is a consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 different 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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