Flora Growth Establishes Long-Term Commitment to Environmental and Economic Sustainability
June 29 2021 - 7:30AM
Flora Growth Corp. (NASDAQ: FLGC) (“Flora”, “Flora Growth”, or the
“Company”), an all-outdoor cultivator and manufacturer of
cannabis-derived products and brands, is pleased to announce that
its commitment to environmental sustainability will be represented
across the Company’s value chain. Flora Growth’s sustainability
initiatives will focus on the modern eco-conscious consumer looking
for products made with cruelty-free, natural ingredients in
sustainable, biodegradable packaging.
“At Flora, we have made sustainability a pillar
of our strategy. We are doing this because consumers are guiding us
in this direction, because we’re committed to our planet and our
people,” said Luis Merchan, President and CEO of Flora Growth Corp.
“From social equity and sustainable packaging to water and
energy-saving practices, Flora is committed to sustainability
across our value chain.”
Flora Growth considers its impact on the
environment at the global level and acts at a local level to have a
positive impact on the community and consumers. Flora Growth
maximizes return on capital invested by utilizing the entire plant
to reduce waste and sensibly maintain operational flexibility to
scale production and capitalize on growing wholesale and retail
demand for its premium product portfolio. Flora’s product portfolio
spans a variety of verticals - from skincare to food & beverage
- each with thoughtful sustainability goals that resonate with
consumers. Some recent initiatives include:
- Flora Growth follows organic
cultivation practices which help prevent loss of topsoil, toxic
runoff, water pollution and soil contamination. It also ensures
consumers have access to all-outdoor organic cannabis.
- Flora Growth’s skin care brand Mind
Naturals, founded by former Miss Universe Paulina Vega, launched
its Extra Hydrating Cream with cannabidiol (CBD) in a 100%
biodegradable container and plans to implement this effort across
the product portfolio.
- Mambe, the primary brand behind
Flora’s KASA Wholefoods division, currently uses 100% recyclable
glass bottles for their beverage products.
- Stardog
Loungewear, the inaugural brand from Flora’s Hemp Textiles
division, caters to consumers looking for comfortable loungewear
made from natural materials and who value quality over wasteful
fast fashion. The products are hand-made in Colombia and fair
trade, and utilize the whole of the cannabis plant to decrease
waste.
“In the wake of the COVID-19 pandemic, the use
of plastic has increased exponentially. Millions of people using
single-use biosafety elements and sectors, such as personal care
and beauty, generate a lot of pollution that unfortunately reaches
the oceans,” said Paulina Vega, founder of Flora Beauty, a
subsidiary of Flora Growth. “We are working to combat this with our
sustainability initiatives to do our part for the planet and
people.”
The consideration of Flora’s environmental and
social impact, however, does not stop with cannabis cultivation
practices. Flora also screens all potential inputs, packaging and
social outcomes associated with its product portfolio. For any
further questions about Flora’s sustainability practices, please
visit: floragrowth.ca/sustainability.
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 media for more information.
Investor Relations Contact:Evan Veryard
evan.veryard@floragrowth.ca
Public Relations Contact:Cassandra Dowell+1
(858) 264-6600flora@cmwmedia.com
Cautionary Statement Concerning Forward-Looking
Statements
This document contains forward-looking
statements. In addition, from time to time, we or our
representatives may make forward-looking statements orally or in
writing. 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 relate to future events or our future
performance, including: our financial performance and projections;
our growth in revenue and earnings; our environmental and
sustainability practices and our business prospects and
opportunities. You can identify forward-looking statements by
those that are not historical in nature, particularly those that
use terminology such as “may,” “should,” “expects,” “anticipates,”
“contemplates,” “estimates,” “believes,” “plans,” “projected,”
“predicts,” “potential,” or “hopes” or the negative of these or
similar terms. In evaluating these forward-looking
statements, you should consider various factors, including: our
ability to change the direction of the Company; our ability to keep
pace with new technology and changing market needs; and the
competitive environment of our business. These and other
factors may cause our actual results to differ materially from any
forward-looking statement. Forward-looking statements are
only predictions. The forward-looking events discussed in
this document and other statements made from time to time by us or
our representatives may not occur, and actual events and results
may differ materially and are subject to risks, uncertainties and
assumptions about us. We undertake no obligation to publicly
update or revise any forward-looking statement, whether as a result
of uncertainties and assumptions, or the forward-looking events
discussed in this document and other statements made from time to
time by us or our representatives not occurring, except as may be
required by applicable law.
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