- Flora Growth Corp. announced that the Company Board has authorized the repurchase of up to $5 million of its outstanding common shares
- Luis Merchan, Flora’s Chairman and CEO, said that Flora is executing its growth plans while simultaneously improving gross profit margins and reducing corporate overhead expenses
- At the closing of 2021, the company announced a 2022 revenue guidance projection of $35-45 million
Flora Growth (NASDAQ: FLGC) is a global leader in the cultivation, marketing, and distribution of premium-quality cannabis products and brands at below-market prices. Flora Growth recently announced that the company’s Board of Directors (the “Board”) has authorized the repurchase of up to $5 million of its outstanding common shares subject to market conditions and the company’s liquidity warrant (https://cnw.fm/9m47y).
Luis Merchan, Flora’s Chairman and CEO, stated that the potential to repurchase their shares at these levels represents a compelling opportunity to deploy available cash to drive shareholder value. The company’s board believes that the decline in the market price of shares is due to the…
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC
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