Flora Growth Launches Vessel in Canada; Signs Deal With Ontario Cannabis Store and Launches Vesselbrand.ca
May 11 2022 - 10:28AM
Business Wire
Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a
leading all-outdoor cultivator, manufacturer, and distributor of
global cannabis products and brands, announced today its Vessel
brand, a leader in premium cannabis accessories, secured meaningful
penetration in Canada via an approved listing on the Ontario
Cannabis Store. Additionally, Vessel announced it has launched its
Canadian direct-to-consumer online store, www.vesselbrand.ca to
service customers directly across the country.
The Ontario Cannabis Retail Corporation, doing business as the
Ontario Cannabis Store (“OCS”), is a crown agency solely owned by
the Province of Ontario and provides safe, responsible access to
legal recreational cannabis and ancillary products for adults 19
and older. The partnership dramatically increases Vessel’s
footprint in the Canadian cannabis marketplace as the OCS launches
two novel Vessel products in the luxury battery and dry herb
categories.
Alongside the OCS engagement, the launch of www.vesselbrand.ca,
Vessel’s Canadian direct-to-consumer site, allows the brand to make
bold moves to own the customer relationship and journey. Providing
customers across the country access to the full breadth of the
Vessel line of products and its stand-out customer service is a
crucial initiative in Flora and Vessel’s plans for global expansion
and proves a model for Flora’s other House of Brands
businesses.
“We’re elated about our partnership with the OCS and are looking
forward to bringing the full Vessel experience to our loyal
customers across Canada,” says James Choe, Flora’s Chief Strategy
Officer. “Our internal estimates show the Canadian cannabis market
will be around CAD 5.9 billion this year, with the ancillary
category making up about $350 - $475 million. That market
potential, coupled with our expectations around meaningful retail
door penetration across the country, signals promising growth in
this market.”
Initially launched by Founder and CEO James Choe in 2018, Vessel
has a people-first approach that hinges on building highly
effective teams and encouraging a collaborative spirit to create
memorable experiences for the consumer. In this way, Vessel bridges
the gap between lifestyle and cannabis, ultimately raising the bar
across the industry. Vessel will mark the first commercial entry
for Flora Growth’s product portfolio into Canada.
Vessel’s product will be available direct-to-consumer at
vesselbrand.ca and at select retailers across the U.S. and
Canada.
ABOUT VESSEL: Headquartered in Carlsbad, California,
Vessel is powered by a mission to bridge the gap between lifestyle
and cannabis, and in doing so, is raising the bar across the entire
industry. Vessel is a community-led company that elevates the
cannabis consumption experience with its luxury accessories
including a high-end line of vape pen batteries and dry-herb
accessories made with premium materials and finishes. Vessel bases
its principles on what matters most: the people and the planet.
Thoughtfully designed with the user experience in mind, Vessel
batteries power any oil in style with details including optimized
airflow technology, low-temperature settings and extra-long battery
life.
About Flora Growth Corp.
Flora is building a connected, design-led collective of
plant-based wellness and lifestyle brands to deliver the most
compelling customer experiences in the world, one community at a
time. As the operator of one of the largest outdoor cannabis
cultivation facilities, Flora leverages natural, cost-effective
cultivation practices to supply cannabis derivatives to its diverse
business divisions of cosmetics, hemp textiles, and food and
beverage. Visit www.floragrowth.com or follow @floragrowthcorp on
social [media] for more information.
Cautionary Statement:
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: expected future
revenue, integration of our recent acquisitions, expansion of our
global footprint, expansion of our product offerings; our financial
performance and projections; our growth in revenue and earnings;
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
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occurring, except as may be required by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220511005788/en/
Vessel PR Contact KLG PR Vessel@klgpr.com
Investor Relations Contact: James Williams
James.Williams@floragrowth.com
Public Relations Contact: Cassandra Dowell +1 (858)
264-6600 flora@cmwmedia.com
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