Fort Lauderdale, Florida--(Newsfile Corp. - November 26, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") is pleased to announce it has renewed its sales orders for the Czech Republic and Slovakia through one of Just Brands UK's largest customers, Mirfa s.r.o. ("Mirfa") This long-standing partnership, valued at total demand of approximately $500,000 annually, underscores Flora's commitment to expanding its footprint in high-growth international markets. Flora has been supplying Mirfa with JustCBD branded products, including gummies, tinctures and oils.
This builds upon a strong four-year business relationship. Over this time, the collaboration has solidified Flora's position as a reliable supplier of high-quality products in the Czech and Slovakian markets. It leverages Flora's expertise in product innovation and compliance, coupled with Just Brands UK's distribution network, ensuring Flora's products reach consumers efficiently and effectively.
Clifford Starke, Chairman and Chief Executive Officer, noted: "our long-standing relationships in Europe are a testament to the strength of collaboration and mutual trust. Over the past four years, this partnership has been a part of our European strategy, allowing us to bring premium products to customers in the Czech Republic and Slovakia. We are proud of the value this relationship continues to deliver, both in terms of revenue and brand recognition."
The orders reflect the growing demand for Flora's product portfolio, including its renowned JustCBD line, which has resonated with consumers seeking trusted, high-quality products. The Czech Republic and Slovakia are among Europe's emerging cannabis markets, with increasing consumer acceptance and regulatory progress driving growth opportunities for innovative companies like Flora. According to Statista, the Czech CBD market reached $34 million 2024.
Mirfa is a Czech company specializing in CBD-infused products designed to enhance well-being for both humans and pets. Their offerings include CBD gummies aimed at improving sleep, reducing stress, and alleviating pain, as well as CBD treats formulated to promote calmness and comfort in dogs. It operates with a commitment to transparency, quality assurance, and customer satisfaction, ensuring that its products meet the highest standards of safety and efficacy. As part of its mission, the company is actively engaged in educating consumers about the benefits of CBD and providing accessible solutions for modern needs across the Czech Republic.
About Flora Growth Corp.
Flora Growth Corp.'s mission is to become the leading NASDAQ small-cap international cannabis company. Flora is a cannabis-focused 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.
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Cautionary Statement Concerning Forward-Looking Statements
This press release contains "forward-looking statements," as defined by U.S. 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 10-K 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).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231318
