FORT LAUDERDALE, FLORIDA – August 17, 2023 – Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a global consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution, has entered a partnership with TruHC Pharma GmbH (“TruHC”), a medical cannabis expert based in Hamburg, Germany. TruHC holds an EU-GDP certification as an importer, distributor and manufacturer of medical cannabis, and operates a production facility with a cutting-edge cannabis laboratory for which an EU-GMP license is expected by the end of September.
Mr. Hendrik Knopp, a respected lawyer and accomplished entrepreneur, along with the TruHC team, joins the Flora family. Mr. Knopp’s leadership has been pivotal in establishing Germany’s medical cannabis landscape, including securing one of the first cultivation licenses in the country.
“I am delighted to welcome Hendrik Knopp and the TruHC team to the Flora group. Their expertise and achievements within the industry, particularly in pioneering medical cannabis in Germany, make them invaluable partners,” stated Clifford Starke, Chief Executive Officer of Flora.
As Germany and the European Union move towards the de-scheduling of narcotics, facilitating improved patient access, Mr. Knopp, Chief Executive Officer of TruHC, expressed his anticipation: “I am excited to collaborate with Flora as we navigate the evolving landscape of medical cannabis. The potential for easier patient access presents a compelling opportunity to contribute to the remarkable growth of this industry.”
“We are poised to execute our strategic business plan and capture a meaningful market share in Germany,” affirmed Clifford Starke.
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.
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 SEC on March 31, 2023, 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. 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).