Flora (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, today announced its entry into securities agreements with institutional investors for the purchase and sale of 12,500,000 of the company’s common shares, pursuant to a registered direct offering, and warrants to purchase up to 12,500,000 common shares. According to the update, the combined purchase price for one common share and one warrant will be $0.40. Aggregate proceeds from the offering will be approximately $5.0 million, from which the company expects to use net proceeds for capital expenditures, to increase operating capacity, as well as for working capital and other general corporate purposes. Subject to the satisfaction of customary conditions, the offering is expected to close on or about Dec. 13, 2022. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.
To view the full press release, visit https://ibn.fm/YE2iZ
About Flora Growth Corp.
Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands, designed to deliver 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 commercial, house of brands and life sciences divisions. Visit www.FloraGrowth.com or follow @floragrowthcorp on social media for more information.
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.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
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
Editor@InvestorWire.com
InvestorWire is part of the InvestorBrandNetwork