Flora Growth (NASDAQ: FLGC), a global cultivator, manufacturer and distributor of cannabis products and brands, will effect a reverse stock split. According to the announcement, the reverse stock split will be at a ratio of 1-for-20. The company has provided appropriate notice to the NASDAQ exchange, and it anticipates its common shares will start trading on a post-reverse stock split basis on June 9, 2023, when the market opens. The common shares will continue to trade under the ticker FLGC (“FLGC”). “The reverse stock split, within a ratio ranging between 1-for-5 and 1-for-25, was approved by the company’s shareholders at the company’s annual and special meeting of shareholders held on June 6, 2023, and is described in the proxy statement of the company dated May 10, 2023,” stated the company in the press release. “As a result of the reverse stock split, every 20 common shares issued and outstanding will be automatically reclassified into one new common share. The reverse stock split does not affect any shareholder’s ownership percentage of the common shares or modify any voting rights or other terms of the common shares.”
To view the full press release, visit https://ibn.fm/7m95q
About Flora Growth Corp.
Flora Growth is a global cannabis company dedicated to bringing the benefits of cannabis to people worldwide. The company’s commitment is to create, master and connect the international cannabis supply chain by setting the standard for world-class cultivation and manufacturing, thoughtful brand development, and rigorous research and development of medical-grade cannabis products that meet the highest standards of quality, safety and efficacy. Flora Growth’s mission is to create a world where the benefits of cannabis are accessible to everyone, and the company is working toward that goal by becoming a leading importer and exporter of cannabis to meet demand in every corner of the market. 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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