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FLGC Promotional Newsletter
The following is a newsletter released by "Ultimate Stock Alerts" promoting Flora Growth Corp.
Don't Want Anymore Emails
This is an update of our newest alert, FLGC.
We are continuing to monitor this opportunity, which could be poised to benefit from an industry experiencing significant growth.
As we mentioned previously, just in the past few weeks, the company has announced several potentially important developments.
On Tuesday, the company announced
Flora Growth Completes Successful First Cannabis Extraction Through New Facility, Initiates EU-GMP Certification Process
Here are the highlights from this press release
Floras cultivation and extraction division, Cosechemos, completed construction of a 10,500 ft2 state-of-the-art post-harvest and extraction facility with annual capacity of 15,000 L of distillate
The first batch of crude oil has been extracted, where the product was submitted to the Colombian Government to obtain Floras 2022 quota for High-THC derivatives, building on Floras existing quota of 7,900 kg of dried High-THC flower
Cosechemos has initiated the pre-audit process for EU-GMP certification, which will enable export of medical-grade cannabis derivatives to international markets when paired with its existing GACP certification
As the company further explains
With this major milestone complete, the company has initiated pre-audit work for the completion of the EU-GMP certification. Upon receipt of EU-GMP certification, and when paired with Flora Growths recent Good Agricultural and Collection Practices GACP certification, Flora will be positioned to target international medical cannabis markets. Flora intends on leveraging its cost advantage - with the Companys low-cost, outdoor-cultivated cannabis grown as inexpensively as 6 cents per gram - to penetrate international medical cannabis markets with its low-cost dried flower and derivatives.
Here are some of the companys comments from this press release
Global cannabis markets are growing at an incredible rate, and Flora is ready to meet that demand for cannabis-derivatives with the completion of our new EU-GMP compliant extraction facility in Colombia, said Luis Merchan, President and CEO of Flora Growth. This is another major step for Flora Growth, as we are now in a position to seek EU-GMP certification, with the ultimate goal of disrupting the global cannabis derivatives market with our low-cost product. Further, the completion of the facility immediately allows us to supply extracts and derivatives to our CPG portfolio, including Flora Beauty and Kasa brands, unlocking additional cost efficiencies.
Being fully integrated, with internal processing, paired with our expanding distribution channels, was a strategic decision and one that we believe will have long-term benefit as the cannabis derivatives market further stabilizes and expands, said Jason Warnock, CRO of Flora Growth. This new facility will also help to increase the range of our product offerings, so that our team can not only produce high-quality cannabis flower, but also produce derivatives and active pharmaceutical ingredients or APIs for international medical markets.
FLGC opened Thursday at 1.69 and rallied to a high of 1.79, before closing the day at 1.66.
We are continuing to monitor this opportunity.
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