Flora Growth Congratulates Colombia’s Pro-Cannabis President-Elect

Key Facts

• “While approximately 90% of Flora’s forecasted revenue is expected to be derived outside of Colombia, we see Colombia as particularly well suited both for production of high-quality, cost-advantaged cannabis and the manufacturing of cannabinoid-derived medical formulations that can be sold domestically and internationally” > > Tweet this “We would like to congratulate President-Elect Gustavo Petro on his victory and we look forward to working with the new government to continue Colombia’s progressive momentum in the global cannabis industry,” said Luis Merchan, Flora’s Chairman and CEO.

• Merchan added, “We are encouraged by President-Elect Petro’s stance on seeing Colombia become a leader in the legal cannabis industry and we are hopeful for progressive legislation that will allow Colombia to create a safe environment for cannabis consumption domestically - potentially leading to a recreational market in the country - while also proving Colombia has all the environmental and labor conditions necessary to be a global cannabis powerhouse.”
• “While approximately 90% of Flora’s forecasted revenue is expected to be derived outside of Colombia, we see Colombia as particularly well suited both for production of high-quality, cost-advantaged cannabis and the manufacturing of cannabinoid-derived medical formulations that can be sold domestically and internationally,” said Jason Warnock, Chief Commercial Officer at Flora Growth.
• Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in Flora’s Annual Report on Form 20-F, filed with the SEC on May 9, 2022, as such factors may be updated from time to time in Flora’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov.

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