Flora Growth Bolsters Executive Leadership with Strategic New Hires
June 09 2021 - 7:30AM
Flora Growth Corp. (NASDAQ: FLGC) (“Flora”, “Flora Growth” or the
“Company”), a leading all-outdoor cultivator and global
manufacturer of cannabis-derived products and brands, is pleased to
announce the appointments of Jason Warnock as Chief Revenue Officer
(“CRO”), effective immediately, and Lee Leiderman as Chief
Financial Officer (“CFO”), effective June 10, 2021. Lee succeeds
Deborah Battiston, who is following her intended plan to retire
from her role as CFO effective June 10, 2021.
Mr. Warnock is an accomplished global sales
leader and executive, bringing more than 20 years of experience
driving revenue growth and go-to-market strategy for high-profile,
Fortune 500 brands. Mr. Warnock has spent the last 14 years in the
cannabis, competitive advertising, communications, and emerging
technology fields where his work focused on building companies and
brands from the ground up, working on strategic mergers and
acquisitions, and creating sustainable, resonant financing and
marketing campaigns. He is experienced in delivering consistent and
sustainable business results for numerous consumer packaged goods
(“CPG” companies, developing high-performing teams, effective
marketing communications, and unparalleled professional service
delivery. As CRO, Mr. Warnock’s mandate is to drive Flora’s global
growth strategy to meet increasing consumer demand for Flora’s
premium brand and product portfolio.
Mr. Leiderman started his career at
PricewaterhouseCoopers and held
several corporate positions within Philip Morris
International, Caterpillar and RR Donnelley, gaining substantial
financial management experience for U.S.-listed public
companies. From April 2016 to May 2019,
Mr. Leiderman served as the Chief Accounting Officer
at OSI Group, and from May 2020 to present, he served as the
CFO of Nurture Life Inc. He has an extensive background with over
25 years of experience, which includes public and
private companies, mergers and acquisitions, transfer
pricing, and investment analysis. Mr. Leiderman also
has broad experience with fast-paced growth companies and
infrastructure creation, having managed the financial teams for
many successful international and domestic companies. Mr.
Leiderman is a CPA with a BA in Accounting and
International Business from Susquehanna
University.
“We are very pleased to welcome Jason and Lee to
our executive leadership team. Their experience will be essential
to pursuing new deal flow, integrating and optimizing recent
acquisitions and investments, leading our financial organization,
and the continued commercialization of our brands and cultivation
platform,” said Luis Merchan, President and CEO of Flora Growth. “I
also want to extend thanks to Deborah Battiston for her service as
our CFO. During the past two years, she leveraged her 25 years of
experience to make numerous foundational contributions to Flora’s
success. We wish her the best in her retirement and thank her for
her assistance as we became a NASDAQ-listed public company.”
“I’m thrilled to be joining the Company at such
a pivotal moment as we enter into our anticipated growth and
commercialization phase and I am eager to take on the challenge of
creating sustainable revenue growth across our portfolio of premium
brands and products,” said Jason Warnock, CRO of Flora Growth. “The
commoditization of flower continues to build momentum as
established operators without downstream production capabilities or
extensive distribution flounder. Successful cannabis CPG companies
must have a high level of agility that allows them to complete the
global supply chain by entering into strategic partnerships while
working with focused, experienced operators. I believe Flora is
uniquely positioned to address these requirements and I look
forward to working with our talented team to capture the market
opportunity before us.”
“I’m excited to join Flora and lead its finance
division during such a critical time as the Company scales and
moves into the next phase of its commercialization and growth
strategy,” said Lee Leiderman, CFO of Flora Growth. “Having had the
opportunity to interact with the team and understand the long-term
vision, I believe that the opportunity that we have before us is
immense. We have one of the anticipated lowest cultivation costs in
the industry, and we’ve already started generating revenue from our
early operations. I look forward to contributing to Flora’s future
success as the Company continues to expand its global distribution
channels and execute on its commercialization plans as we work
together to steadily grow revenue and create value for
shareholders.”
About Flora Growth Corp.
Flora Growth is a global cannabis company that
leverages natural, cost-effective cultivation practices to supply
cannabis derivatives to its diverse business divisions of
pharmaceuticals, cosmetics, hemp textiles, and food and beverage.
As the operator of one of the world’s 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 media for
more information.
Investor Relations Contact:Evan Veryard+1 416
571 9037evan.veryard@floragrowth.ca
Public Relations Contact:Cassandra Dowell+1
(858) 264-6600cassandra@cmwmedia.com
Cautionary Note Regarding
Forward-Looking Statements
This Press Release includes certain
forward-looking statements. Forward-looking statements generally
are accompanied by words such as “anticipate,” “believe,”
“continue,” “estimate,” “expect,” “forecasts,” “future,” “intend,”
“may,” “outlook,” “plan,” “predict,” “potential,” “projected,”
“seek,” “seem,” “should,” “will,” “would” and similar expressions
(or the negative versions of such words or expressions) that
predict or indicate future events or trends or that are not
statements of historical fact. 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 are subject to risks and
uncertainties, which could cause actual results to differ
materially from those anticipated or reflected in the
forward-looking statements. Factors that may cause such differences
include, without limitation, expectations with respect to future
operating and financial performance and growth; Flora’s ability to
execute its business plans and strategy and to receive regulatory
approvals; potential litigation; global economic conditions;
geopolitical events, natural disasters, acts of God and pandemics,
including, but not limited to, the economic and operational
disruptions and other effects of COVID-19; regulatory requirements
and changes thereto; access to additional financing; demand for
Flora’s products and Flora’s ability to meet demand for its
products and negotiate agreements with existing and new customers;
the Company’s ability to develop product enhancements and
formulations with commercial value and appeal; and weather and
agricultural conditions and their impact on Flora’s cultivation and
construction plans. The foregoing list of factors is not exclusive.
Additional information concerning certain of these and other risk
factors is contained in Flora’s most recent filings with the SEC.
All subsequent written and oral forward-looking statements
concerning Flora and attributable to Flora or any person acting on
its behalf are expressly qualified in their entirety by the
cautionary statements set forth herein. Readers are cautioned not
to place undue reliance upon any forward-looking statements, which
speak only as of the date made. Flora expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in its expectations with respect thereto or any
change in events, conditions, or circumstances on which any
statement is based, except as may be required by applicable
law.
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