Flora Growth Corp. announced a joint venture agreement with Pharma Indigena Misak Manasr Sas, the largest indigenous tribe in Colombia, on the development of cultivation best practices, manufacturing, export, and marketing of cannabis and cannabis-containing products.
Under the agreement, Flora will provide Manasr regulatory advice, technical and business support related to product development and distribution, promotion of products to be marketed under the Flora brand portfolio, and cannabis derivatives when needed to complete product production. Additionally, Manasr will work closely with Flora in developing cannabis pharmaceuticals & products and help advance the approvals and authorizations required for exports of cannabis from Colombia.
"We are honored to be given the opportunity to work hand-in-hand with the Misak people," said Luis Merchan, Flora's Chairman and CEO. "Through this partnership, we will collaborate with the tribe on the processing and distribution of their Colombian-grown cannabis while offering Manasr a powerful platform for product distribution. In return, Flora will be able to leverage the tribe's unique regulatory positioning to expedite exports and increase the global market penetration of Colombian cannabis goods. We look forward to a long-standing relationship with such a powerful community partner."
The initial term of the agreement is three years; however, the intention is to create a lasting and mutually beneficial relationship for the foreseeable future.
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