TORONTO--(BUSINESS WIRE)--Jul 22, 2021--
Flora Growth Corp. (NASDAQ: FLGC) (“Flora”, “Flora Growth”, or the “Company”), an all-outdoor cultivator and manufacturer of cannabis-derived products and brands, is pleased to announce that after conducting an exhaustive review process the Company plans to relocate its headquarters to Miami, Florida by Q1 2022.
The Company has narrowed down its search to Miami’s downtown core, specifically the Brickell financial district, one of the fastest-growing destinations in the United States. The new location is expected to be markedly larger than its current office space in Toronto, Ontario, and will provide Flora with much-needed space to accommodate its significant growth and attract top-tier talent.
“As part of our long-term strategic growth plans, we assembled an evaluation committee and undertook a comprehensive site review process that considered a number of diverse criteria, underpinned by our focus on developing global growth opportunities,” said Luis Merchan, President and CEO of Flora Growth. “Concentrating on the specific requirements of our business both now and in the future, we honed in on eight cities located across the US, with an emphasis on travel & logistics (including time zone), business climate (state corporate tax rate and receptiveness to the cannabis industry), and personal life factors (including talent pool and cost-of-living) in order to effectively conduct our analysis. Ultimately, our due diligence process ended with us selecting Miami as our preferred city to establish our roots. We are very excited to invest in and build a deeper rapport with the Miami business community, and to foster new collaborative and innovative opportunities through our new head office.”
The new space will reflect the forward-thinking culture of Flora and is expected to be a phenomenal place to work, as well as to visit and. learn about its global divisions and brands. The office space will feature technology-enabled conference rooms and hot desk solutions where team members can collaborate on solutions with colleagues, customers, partners, and offsite employees around the world. Flora will continue to retain an administrative office in Toronto, Ontario.
About Flora Growth Corp.
Flora is a cannabis company that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive. Visit www.floragrowth.ca or follow @floragrowthcorp on social media for more information.
Cautionary Statement Concerning Forward-Looking Statements
This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: the location of our offices; our financial performance and projections; our growth in revenue and earnings; our environmental and sustainability practices and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, or the forward-looking events discussed in this document and other statements made from time to time by us or our representatives not occurring, except as may be required by applicable law.
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KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: ALTERNATIVE MEDICINE COSMETICS RETAIL HEALTH GENERAL HEALTH PHARMACEUTICAL FOOD/BEVERAGE
SOURCE: Flora Growth Corp.
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PUB: 07/22/2021 07:30 AM/DISC: 07/22/2021 07:32 AM