Flora Growth CEO Meets With Colombian Senator as Bill to Legalize Recreational Cannabis Is Introduced
July 22 2022 - 7:05AM
Business Wire
- Flora applauds new Colombian bill to legalize
recreational cannabis in the country proposed to the legislature on
July 20
- Bill proposed to Colombian legislature sets
the framework for a recreational market, including regulation from
INVIMA
- Flora CEO Luis Merchan met with Sen. Gustavo
Bolivar, the bill’s author, to discuss the impact on national and
international trade
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 that the
Company met with the author of a new bill to legalize recreational
cannabis on the day the legislation was introduced to Congress.
Flora’s Chairman and CEO Luis Merchan met with Colombian Sen.
Gustavo Bolivar prior to the bill's introduction to Congress on
July 20. Bolivar, the key author of the bill, and Merchan discussed
the top tenants of the bill, the bill’s implications for companies
such as Flora in Colombia and what legalization means for the
country’s burgeoning domestic and international cannabis markets.
Video of the discussion between Bolivar and Merchan can be found
here.
Highlights of the discussion include:
- Highlights a flourishing cannabis industry in Colombia,
including both domestic trade and international exports
- The future of cannabis regulations, including the potential of
a new government entity solely focused on cannabis regulation
- Cannabis pharmaceuticals and the need for government
regulations and approvals
- Colombia as an upcoming global leader in the legal export of
cannabis and its derivatives
“We are honored to work closely with Sen. Bolivar and other key
policymakers to support legislation that will provide safe access
to cannabinoid-based products both domestically and in
international markets,” Merchan said. “We are committed to creating
effective, high-quality products. And with the expectation of the
passing of this new bill to legalize recreational cannabis, we seek
to support further the communities in which we operate.”
Colombia has recently voted in pro-cannabis president, Gustavo
Petro, who has expressed his desire for the country to become a
leader in the legal cannabis industry. Cannabis for personal use is
currently decriminalized in Colombia while medical cannabis was
legalized in 2015.
The proposed cannabis legalization bill will allow full
recreational cannabis legalization in Colombia, building on
resolutions and regulations that are important for the safe
development and access of the legal cannabis industry, including
oversight by INVIMA. The bill was proposed to the legislature on
July 20, 2022.
About Flora Growth Corp.
Flora is building a connected, design-led collective of
plant-based wellness and lifestyle brands delivering the most
compelling customer experiences in the world, one community at a
time. As the operator of one of the most extensive outdoor cannabis
cultivation facilities, Flora leverages natural, cost-effective
cultivation practices to supply cannabis derivatives to its
commercial, house of brands, and life sciences divisions. Visit
www.floragrowth.com or follow @floragrowthcorp on social media for
more information.
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forward-looking statements orally or in writing. We base these
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