Flora Growth Announces Corporate Headquarters Relocation
July 22 2021 - 7:30AM
Business Wire
Flora Growth Conducted an Exhaustive and
Comprehensive Search Before Selecting the City of Miami, Florida
for its New Head Office Location
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
after conducting an exhaustive review process the Company plans to
relocate its headquarters to Miami, Florida by Q1 2022.
The Company has narrowed down its search to Miami’s downtown
core, specifically the Brickell financial district, one of the
fastest-growing destinations in the United States. The new location
is expected to be markedly larger than its current office space in
Toronto, Ontario, and will provide Flora with much-needed space to
accommodate its significant growth and attract top-tier talent.
“As part of our long-term strategic growth plans, we assembled
an evaluation committee and undertook a comprehensive site review
process that considered a number of diverse criteria, underpinned
by our focus on developing global growth opportunities,” said Luis
Merchan, President and CEO of Flora Growth. “Concentrating on the
specific requirements of our business both now and in the future,
we honed in on eight cities located across the US, with an emphasis
on travel & logistics (including time zone), business climate
(state corporate tax rate and receptiveness to the cannabis
industry), and personal life factors (including talent pool and
cost-of-living) in order to effectively conduct our analysis.
Ultimately, our due diligence process ended with us selecting Miami
as our preferred city to establish our roots. We are very excited
to invest in and build a deeper rapport with the Miami business
community, and to foster new collaborative and innovative
opportunities through our new head office.”
The new space will reflect the forward-thinking culture of Flora
and is expected to be a phenomenal place to work, as well as to
visit and. learn about its global divisions and brands. The office
space will feature technology-enabled conference rooms and hot desk
solutions where team members can collaborate on solutions with
colleagues, customers, partners, and offsite employees around the
world. Flora will continue to retain an administrative office in
Toronto, Ontario.
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.
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: the location of our
offices; 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210722005477/en/
Investor Relations: Evan Veryard
evan.veryard@floragrowth.ca
Public Relations: Cassandra Dowell +1 (858) 264-6600
flora@cmwmedia.com
Flora Growth (NASDAQ:FLGC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Flora Growth (NASDAQ:FLGC)
Historical Stock Chart
From Apr 2023 to Apr 2024