Flora Growth Corp. (NASDAQ: FLGC) Names Cannabis Pioneer as Colombian Facility Advisor as Company Prepares for International Growth

 

• Canada-based Flora Growth Corp. operates cannabis cultivation and extraction processes in-house at its Cosechemos lab and growth facility in central Colombia
• The company has been building a portfolio of cannabis and wellness products and obtaining a variety of licenses and GMP certifications as it establishes partnerships to economically distribute its portfolio worldwide
• Flora Growth recently announced the addition of pioneering cannabis genetics innovator Derek Pedro in an advisory role for its Cosechemos facility
• Pedro will help the company build on its more-than-190 product offerings with cannabis flower cultivation and distribution

Cannabis cultivator and worldwide cannabidiol (“CBD”) brand builder Flora Growth (NASDAQ: FLGC) is continuing to aggressively build a collective of plant-based wellness and lifestyle brands in 2022. The company recently announced its excitement over appointing renowned cannabis industry pioneer Derek Pedro as an advisor to its in-Colombia cultivation facility. 

Flora Growth operates the diverse business divisions of cosmetics, hemp textiles, and food and beverage products, all of which contain cannabis derivatives supplied by the Cosechemos facility in central Colombia where conditions are naturally conducive to growing and harvesting cannabis year-round. 

Pedro will build on the facility’s existing register of high-THC and high-CBD strains to bring to market uniquely Colombian cannabis flower that will serve both domestic and international markets for pharmaceuticals, cosmetics and nutraceuticals, according to the company’s statement. 

“As an internationally recognized industry expert and innovative cultivator, the appointment of Derek Pedro aligns perfectly with our goals to optimize our expanding Cosechemos facility operations and increase our varietal offering of cannabis flowers,” Flora Growth President and CEO Luis Merchan stated (https://ibn.fm/Iv4WO). “Mr. Pedro has a well-earned reputation as one of the world’s leading experts on cannabis cultivation, and we are thrilled to have him join us as we develop our growing portfolio of brands and expand our global distribution.”

Pedro, who has consulted internationally on cannabis genetics and commercialized more than 50 strains within the legal Canadian market, including his wildly successful high-THC strain “Pedro’s Sweet Sativa,” described the Cosechemos facility as “one of the most beautiful and well-designed EU-GMP built processing facilities I have visited across the world.”

Flora Growth owns a 90 percent interest in Cosechemos (correcting a recent news release erroneously stating the facility is wholly owned). Cosechemos is a 100-hectare (about 247-acre) site regarded as ideally situated for cultivation conditions and therefore a means of helping Flora Growth to preserve an economically efficient bottom line with growing costs estimated at about 6 cents per gram of dried product, contrasting with the 50 cents to $2 per gram reported in the United States (https://ibn.fm/h1PrT).

“I am excited to join this talented team, contributing to the management of Cosechemos’ large-scale grow in Colombia. … We look to match both EU-GMP export capabilities with some of the most successful and sought-after genetics that were designed to be grown in equatorial Colombia,” Pedro stated. 

Flora Growth already distributes more than 190 cannabis-derivative products through e-commerce and a variety of retail partners. 

For more information, visit the company’s website at 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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