Flora Growth (NASDAQ: FLGC), a cannabis-focused consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000-plus points of distribution around the world, has announced plans to expand its global genetics business in Germany. According to the announcement, the company is launching a cannabis home-grow kit, including start-up material seeds and cuttings in the country; the offering will be available online and through preferred partners. Flora Growth subsidiaries have been active in Germany since 2017. The company observed that the German legal cannabis recreation market could reach $4.2 billion; the total European market is projected to reach $10.2 billion in revenues. FLGC’s announcement of the new cannabis kit and other materials comes in response to the first phase of Germany’s new recreational cannabis legalization law. The new legislation allows adults older than 18 years of age can possess up to 50 grams of cannabis for private consumption and grow up to three plants. Flora Growth has what may be the largest global existing seedbank, which will be a key component to the company’s planned strategy to expand into Germany. “We are carefully examining Germany’s new legislation for immediate business opportunities,” said Flora Growth CEO Clifford Starke in the press release. “What Canada’s legalization case has taught us is that a notable percentage of adults reported home cultivation of cannabis immediately following legalization. We believe German adults will exhibit a similar pattern and we intend to give them the tools to do.”
To view the full press release, visit https://ibn.fm/iBFwO
About Flora Growth Corp.
Flora Growth is a cannabis-focused consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000-plus points of distribution around the world. 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
About InvestorWire
InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer
InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
Editor@InvestorWire.com
InvestorWire is powered by IBN
