Flora Growth Expands Into U.K. and Central American Markets with Sales to New International Distribution Partners
May 14th, 2021
TORONTO, ONTARIO – May 14, 2021 — Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), an all-outdoor cultivator and manufacturer of cannabis-derived products and brands, today announced it has expanded into the United Kingdom (the “UK”) and Costa Rica, fulfilling initial orders from two new distributors. Specifically, Flora’s Kasa Wholefoods division (“Kasa”) has fulfilled an initial shipment of Mambe juices to a distributor for the Central American food and beverage market, while an initial shipment of Almost Virgin, Mind Naturals and Mambe products was fulfilled to the UK.
Flora is pleased to announce that it has completed an initial shipment of products from its Mind Naturals, Almost Virgin, and Mambe brands to the UK. This order is a significant milestone for Flora, as it represents the Company’s first shipment of CBD-containing products into Europe. Going forward, Flora intends to expand on its relationship in the UK to bring its entire product portfolio into the UK market and into adjacent markets throughout the European Union.
Central American Expansion
In April 2021, Kasa signed a distribution agreement with GMD Latinoamérica, a Costa Rica-based distributor for the Central American food and beverage market. Exports will begin in Puerto Limon, Costa Rica. Kasa is also in the process of registering additional product lines of its portfolio for the Central American and Caribbean markets.
“Flora Growth’s expansion into the UK and Central America aligns perfectly with our strategy of aggressive expansion into new markets, as we continue to establish our premium brands’ international presence,” said Flora CEO Luis Merchan. “We look forward to working with our new distribution partners in both Europe and Central America and hope to expand even further into both continents in the coming months.”
About Flora Growth’s Premium Product Portfolio
Mind Naturals is the inaugural brand from the Flora Beauty division; it is an inclusive brand that uses premium CBD and quality clean ingredients to craft an assortment of natural skincare essentials. The brand consists of 11 unique products and caters to the mass-market and is sold across e-commerce channels in Colombia and the United States. Mind Naturals products are also being distributed with the largest Latin American retailer, Falabella across 15 of the highest-traffic retail centres in Colombia, with the opportunity to expand across Falabella’s 111-store portfolio. Mind Naturals products are also available through online channels across Falabella’s e-retailer Linio, which sees over 290 million visitors per year and on Fallabella.com.
Mind Naturals was developed by Paulina Vega, a renowned figure in the fashion and beauty industry. She is a former Miss Universe and Miss Colombia and a proud ambassador for Latin Americans. With more than 5.7 million Instagram followers, Mrs. Vega will help drive sales through e-commerce channels.
Mambe is the primary brand behind Flora’s Kasa Wholefoods division. Mambe’s products are made in Colombia using natural and sustainable methods from responsibly sourced exotic Amazonian fruits. Mambe has over 980 distribution points within Colombia, which are expected to grow to 1,200+ in 2021. This includes Tostao’ Café & Pan, the Colombian equivalent of Starbucks, Mambe’s largest customer. Mambe’s other products include exotic fruits coated with chocolate, chocolate bars, and dried fruits and fruit pulp from the Amazon. The brand contains both CBD and non-CBD products. The Mambe brands’ founder and ambassador is Laura Londoño, the award-winning Latin-American actress with a strong following of more than 1.3 million Instagram followers.
Almost Virgin is the second brand under Flora’s Kasa Wholefoods division and was conceived to satisfy the curious minds of our bold and sensual customers. The brand’s collection of botanical sexual wellness products is designed to enhance sexual experiences and to increase awareness about human bodies and health while helping relieve stress from today’s fast-paced and demanding life. The Almost Virgin brand is available for sale through e-commerce channels across the United States and Colombia.
About Flora Growth Corp.
Flora is a cannabis company that will leverage natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive. Visit www.floragrowth.ca or follow @floragrowthcorp on social for more information.
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This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this document and other statements made from time to time by us or our representatives might not occur.
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