Delta, Kelowna, BC – June 1, 2022 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site release today’s podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
Investor Ideas Potcasts #632, Cannabis News and Stocks on the Move – Interview with CEO of Flora Growth Corp. (NASDAQ: $FLGC)
Today’s podcast overview/transcript:
In today’s podcast, Investorideas interviews Luis Merchan, CEO of Flora Growth Corp. (NASDAQ:FLGC), where we discussed the company’s last few months of business, the CBD market coming out of Colombia as well as the CBD industry over all and what is on the horizon for Flora Growth Corp. moving forward.
Speaking on the last few months of Flora Growth’s business development, specifically their acquisition and development of JustCBD,, Merchan commented, “It seems like every month is a meaningful month in terms of progress and execution of our strategy. Starting with the acquisition of JustCBD, which is a leading brand in the CBD space in the United States, which is the most sought after market in the entire world. We expect sales of CBD to triple over the next five years as adoption continues to rise and there are a number of categories that are leading the pace when it comes to growth and JustCBD plays in all of them.
Amazon UK entered the now ?700 million CBD market in October 2021 and has since expanded the initial pilot-only program to include vendors who have demonstrated their compliance with the UK CBD Novel Food regulations. Producers awarded with UK Novel Food authorization must prove the product is safe for consumption and labeled correctly.
“With health and wellness playing an increasingly important role in customers’ lives, we are excited to increase the selection of quality CBD products offered to Amazon customers in the UK,” said Hussein Rakine, CEO of JustCBD. “The JustCBD team looks forward to working closely with Amazon to expand our product offering to other countries as our partnership and brand presence in the United Kingdom grows.”
JustCBD’s product line is expected to launch on Amazon.co.uk in June of 2022 and will make available a portfolio of JustCBD’s best-selling gummies and tinctures.
“International growth is a key objective of our company’s strategy. The launch on Amazon UK allows Flora to reach a larger consumer base in search of quality CBD products,” said Luis Merchan, CEO of Flora Growth. “We are excited to continue expanding our operations in Europe and to deliver top-quality cannabis-related products to customers aiming to improve their health and wellness.”
The JustCBD acquisition was timed with changes in Colombia as Merchan mentioned, “Colombia has had some meaningful changes, starting with Resolution 227, which basically immediately allowed our strategy to come into play out of Colombia with the manufacturing, production and export of CBD infused products. Immediately after that resolution was completed we proceeded to complete our first export of products.”
Speaking on how Colombia will fit into the global cannabis industry, Mechan commented, “Our hypothesis early on, several years ago when we were founding the company was, that Colombia would become the Green BreadBasket of the World. The first growth pillar of Flora, is without a doubt, the Plant. We are going to have the opportunity over the next few months to have the opportunity to start exporting dry flower and exporting some of these finished products to a number of countries around the world while generating a significant of economic benefit to the Colombian population which has been frankly decimated over the last few decades wit the war on drugs. The single greatest advantage that you have with being in Colombia, is you are able to take advantage of all the knowhow, the agricultural knowhow, the fact that Colombia is on the equator, and grow a high quality product at one of the lowest production costs in the world. Now with the changes in the regulatory environment, Colombia will be at the vanguard of cannabis distribution and Flora will be leading the charge.”
Flora Growth Corp. also recently announced that the Company has formally begun the integration of its licensed and Control Union Medical Cannabis Standard GACP (“CUMCS-GACP”) certified cannabis products and derivatives into its global roster of branded products. Beginning with CBD derivatives used in its award-winning skincare brand, Mind Naturals, the Company has begun the process of integrating significantly lower-cost cannabinoids, grown and extracted at Flora’s cultivation and extraction facility, Cosechemos, for products formulated at the Company’s GMP-licensed laboratory in Bogota, Colombia.
This event marks a milestone in Flora’s integration strategy, allowing Flora to further its global supply chain efficiencies and independence while bolstering its competitive advantage in white label and wholesale businesses.
“The key to unlocking the potential of the global cannabis market is supply chain mastery – this is our focus,” Flora CEO Luis Merchan said. “Connecting our high-quality derivatives with our significant portfolio of revenue-producing global brands is a significant step in maximizing compounded value creation from seed to shelf.”
Flora shows little sign of slowing down having also announced that it has entered into an agreement with leading cell biologist, Dr. Annabelle Manalo-Morgan, Ph.D., to acquire her brand Masaya, together with its patent-pending CBD formulations. Created by Dr. Annabelle and backed by her research, Masaya’s formulations of pure, potent CBD oil are 100% THC-free and have a long track record of positive testimonials collected over years of use. Flora intends to distribute the brand and its formulations worldwide.
Masaya will become an owned Flora brand sold in the US and will be the first offering from Flora Life Sciences. In addition, it is expected that the original patent-pending formulation, Masaya Pure, will be used in Flora’s current clinical trials with the University of Manchester in the UK. The formulation is also in the process of being registered with the Colombian regulatory agency, INVIMA, as one of the first distribution steps beyond the US.
Merchan went on to discuss some of the difficulties of importing/exporting CBD and cannabis products, how Flora has helped separate themselves from their local Colombian competition as well as what he expects for Flora moving forward.
To find out more information regarding Flora Growth Corp. visit their website here.
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