Flora Growth Corp. (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, today announced its entry into a non-binding letter of intent (“LOI”) with Robust Farms Inc., a Panamanian importer and distributor, to supply its premium cannabidiol (“CBD”) derivative products from its Kasa Wholefoods division. In addition, Robust will be applying for its import license of cannabis products, which, upon receipt of this updated licensing, Flora expects to ship its medical-grade cannabis products. Panama’s National Legislative Assembly recently passed Bill 153 to legalize the use of medical cannabis and its therapeutic properties, and Panama is expected to become the first country in Central America to regulate the use of medical cannabis. “It’s important to recognize the continued trend of medical and adult-use cannabis legalization sweeping across the globe as governments increasingly recognize its therapeutic properties and want to control, regulate and tax these products to foster economic prosperity, as well as bring significant reform in civil rights and criminal justice,” said Luis Merchan, president and CEO of Flora Growth. “We applaud the efforts of Panamanian legislators and advocacy groups to push forward this initiative that will ultimately help provide options for patients who are looking to improve their quality of life by utilizing emerging cannabinoid therapeutic treatments and look forward to working with local partners to provide our medical-grade cannabis products to the citizens of Panama.”
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About Flora Growth Corp.
Flora is a cannabis company that leverages 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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