Flora Growth begins implementing the first cannabinoids produced from Flora’s 254-acre Cosechemos outdoor cultivation facility in Colombia into the Company’s global suite of CPG brands
The cannabinoid derivatives were extracted onsite at Cosechemos to be transported to Flora’s GMP-approved processing facility in Bogota, Colombia for use in in-market products
This marks the first time Flora will cultivate, extract and implement its own low-cost, high-quality cannabinoid derivatives into the Company’s own product, reducing the Company’s cost of goods
Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator and manufacturer of cannabis products and brands, announced today that the Company has formally begun the integration of its licensed and Control Union Medical Cannabis Standard GACP (“CUMCS-GACP”) certified cannabis products and derivatives into its global roster of branded products.
Beginning with CBD derivatives used in its award-winning skincare brand, Mind Naturals, the Company has begun the process of integrating significantly lower-cost cannabinoids, grown and extracted at Flora’s cultivation and extraction facility, Cosechemos, for products formulated at the Company’s GMP-licensed laboratory in Bogota, Colombia.
“Connecting our high-quality derivatives with our significant portfolio of revenue-producing global brands is a significant step in maximizing compounded value creation from seed to shelf.”
This event marks a milestone in Flora’s integration strategy, allowing Flora to further its global supply chain efficiencies and independence while bolstering its competitive advantage in white label and wholesale businesses.
“The key to unlocking the potential of the global cannabis market is supply chain mastery – this is our focus,” Flora CEO Luis Merchan said. “Connecting our high-quality derivatives with our significant portfolio of revenue-producing global brands is a significant step in maximizing compounded value creation from seed to shelf.”
Since its inception, Flora has built, licensed or acquired an extensive suite of leading brands in the United States and Colombia, including the Mind Naturals skincare line, Tonino Lamborghini beverages, Vessel cannabis accessories and JustCBD gummies and topicals. The ability to deliver high-growth, high-margin global consumer brands with high-quality, low-cost cannabinoids marks a distinct and pivotal milestone for the Company’s global strategy.
About Flora Growth Corp.
Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands delivering the most compelling customer experiences in the world – one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage.
Visit www.floragrowth.com or follow @floragrowthcorp on social [media] for more information.