Flora Growth’s (NASDAQ: FLGC) wholly owned subsidiary, Cosechemos, has produced the first batch of crude oil through its newly constructed extraction facility. FLGC, a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, made the announcement, adding that the 10,500-square-foot plant, which has an annual capacity to produce 15,000 L of distillate, is also taking steps to become EU-GMP certified. Full certification will allow the company to export medical-grade cannabis derivatives to international markets. The plant is Flora Growth’s primary processing location and facilitates the drying and processing of the company’s all-outdoor cultivated flower into finished, packaged dry flower and extracted material for domestic production as well as export to wholesale cannabis markets. “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 Flora Growth president and CEO Luis Merchan in the press release. “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.”
To view the full press release, visit https://ibn.fm/zSOYb
About Flora Growth Corp.
Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands that delivers the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. For more information about the company, please visit www.FloraGrowth.ca.
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 is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.
With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.
Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.
For more information, please visit https://www.investorwire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]
InvestorWire is part of the InvestorBrandNetwork.