Flora (NASDAQ: FLGC) is a consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world. The company has announced its entry into a definitive agreement to acquire all of the issued and outstanding shares of TruHC Pharma GmbH in exchange for 2,770,562 Flora common shares, valued at $6.4 million (the “purchase price”) based on the closing price of the Flora Growth shares on March 28, 2024, of $2.31 per share. Based in Hamburg, Germany, TruHC holds a GDP wholesale and an EU-GMP processing and production license for medical cannabis and also owns and operates an EU-GMP certified laboratory ready for instant cannabis analysis. “Now that Germany has rolled out its blueprint for recreational legalization, we intend to capitalize on the opportunity and work together to become the cannabis leader in the country,” said Hendrik Knopp, chief executive officer of TruHC.
To view the full press release, visit https://ibn.fm/a6EVC
About Flora Growth Corp.
Flora is a consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world. For more information on Flora, 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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