Fort Lauderdale, Florida--(Newsfile Corp. - April 10, 2024) - Flora Growth Corp. (NASDAQ: FLGC) ("Flora" or the "Company"), a consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world, has entered into a strategic distribution agreement with IM Cannabis Corp (NASDAQ:IMCC). ("IMC") for Vessel products in Israel. Vessel is a wholly owned subsidiary of the Company and a market leading brand of vape pens and smoking accessories.
IMC's brands are well known in the premium Israeli cannabis market, facilitating the import and wholesale of medical cannabis through retail pharmacies, online platform, and distribution centre.
"The Israeli Ministry of Health recently decreed that grinders can only be legally purchased in pharmacies," noted Oren Shuster, Chief Executive Officer of IMC. "We believe that Vessel premium accessories not only compliment our premium cannabis flowers, but also bolster our pharmacies' positioning as a one stop shop for a premium medical cannabis experience."
"Israel is one of the world's largest and longest standing medical cannabis markets and one in which we expect to play a key role," noted Clifford Starke, Chief Executive Officer of Flora. "Anticipation runs high as we embark on realizing our strategic agenda, aiming to secure a significant market presence in Israel together with IMC."
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About Flora Growth Corp.
Flora Growth Corp. is a consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world. For more information on Flora, visit www.floragrowth.com.
https://justcbdstore.com/
https://www.vesselbrand.com/
https://justcbdstore.uk/
https://www.phatebo.de/home-en
Investor Relations:
Investor Relations ir@floragrowth.com
Clifford Starke Clifford.Starke@floragrowth.com
Media:
media@floragrowth.com
Cautionary Statement Concerning Forward Looking Statements
This press release contains "forward looking statements," as defined by federal securities laws. Forward-looking statements reflect Flora's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words "believe," "expect," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," and the negatives of these words and other similar expressions generally identify forward looking statements. Such forward looking statements are subject to various and risks and uncertainties, including those described under section entitled "Risk Factors" in Flora's Annual Report on Form 10K filed with the United States Securities and Exchange Commission (the "SEC") on March 28, 2024, as such factors may be updated from time to time in Flora's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov/edgar. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Flora's filings with the SEC. While forward looking statements reflect Flora's good faith beliefs, they are not guarantees of future performance. Flora disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based on information currently available to Flora (or to third parties making the forward-looking statements)
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