Flora Growth Corp. provides an update on commercial cannabis operations out of Colombia. Following the April 2022 passage of Resolution 539 permitting licensed cannabis cultivators with export quotas to export dry cannabis flower, Flora successfully exported nearly 1,000 kilograms of dried cannabis and derivatives to Europe and the United States in the fourth quarter of 2022. These activities are a part of the full commercialization of the Cosechemos farm and Flora Lab One facility in Bucaramanga, Colombia.
The Company also updated its previously announced 43,000-kilogram export quota to include multiple strains of THC flower, including four additional high-THC genetics, and increased the limit to the production of psychoactive derivatives for domestic use in the Colombian medical market.
“As the largest cultivator of commercial cannabis in Colombia, our ability to activate our farm and distribute products is nearly unmatched,” said Luis Merchan, Chairman and CEO of Flora Growth. “With the acquisition of Franchise, Global Health completed just last week, and we now have direct lines of distribution to Germany and the rest of Europe.”
Since the passage of Resolution 539 last year, Flora has been focused on ramping up the commercialization and export of dry flower to Europe. The recently announced acquisition of Franchise Global Health and the integration of the German and European teams accelerates Flora’s immediate opportunity for medical products in Germany and positions the Company well for the potential incoming adult-use market.
For more information: