May 26, 2022


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Flora Growth Recognizes Colombia’s Completion of Cannabis Flower Export Rules, Prepares First Export Under New Regulations | 2022-04-04 | Press Releases

4 min read

  • Colombia completes demanded laws to enable Colombian hashish organizations, including Flora Progress, to export THC and CBD dried flower globally
  • Flora Development reaffirms its means to generate 43.6 tonnes of low-charge THC and CBD generation expenditures of 6 cents per gram of dried flower alongside with full extraction and isolation abilities at its Colombian cannabis cultivation facility

Flora Progress Corp. (NASDAQ: FLGC) (“Flora&CloseCurlyDoubleQuote or the “Company&CloseCurlyDoubleQuote), a main all-outdoor cultivator and maker of international cannabis merchandise and models, is pleased to identify Colombia&CloseCurlyQuotes closing passing of all necessary checklists to allow the sale of THC and CBD dried flower to international markets via Resolution 539.

On April 1, the Government of Colombia finalized the cannabis flower regulatory checklist below Resolution 539 permitting licensed cannabis cultivators with export quotas, including Flora, to pass a required acceptance procedure for the export of both CBD and THC flower. These export measures contain changes to Flora&CloseCurlyQuotes authorised 43.6-tonne quota, which permits the addition of dried flower to be included with all existing buy agreements from countries together with Germany, Israel, Australia, South Africa, Portugal, and Malta. This update also includes the prerequisite for genetics registrations connected to all significant THC cultivars. In advance of the passage of this update, Flora Expansion&CloseCurlyQuotes export quota currently permitted the export of by-product products made at its cultivation facility.

“Flora applauds the the latest announcement by the Colombian Government as we have been doing work diligently to have all the vital approvals and capabilities offered to deliver higher THC flower, including multiple hashish strains with THC stages more than 20 percent,&CloseCurlyDoubleQuote stated Jason Warnock, Flora&CloseCurlyQuotes Chief Professional Officer. “This resolution also clears the path to export dried CBD flower to markets like the United States wherever Flora previously offer hundreds of CBD goods through owned models like JustCBD, Intellect, and Mambe.&CloseCurlyDoubleQuote

Flora maintains a reduced price tag of cultivation of about 6 cents for every gram on its absolutely integrated 254-acre certified hashish farm, Cosechemos, that includes on-website cryo-ethanol extraction, advanced drying methods, sterilization and cannabinoid isolation devices, and superior screening within just the onsite laboratory. The Cosechemos facility makes use of only organic farming cultivation techniques and is presently capable of generating 600 kg of dried hashish each day, as perfectly as about 10,000 kg of cannabis derivatives per year below EU-GMP rules.

With the passage of resolution 539, Flora can now incorporate shipments of dried cannabis flower with derivatives exports such as to its subsidiaries Flora Lab in Bogota, Colombia, and JustCBD in Fort Lauderdale, Florida, completing the vertical integration of specified Flora portfolio items together with its CBD edible, topicals, and other infused merchandise.

About Flora Expansion Corp.

Flora is building a connected, design-led collective of plant-based mostly wellness and way of living makes that is developed to provide one particular of the most persuasive consumer experiences in the planet, 1 group at a time. As the operator of a person of the biggest outside hashish cultivation services, Flora leverages organic, expense-helpful cultivation tactics to source hashish derivatives to its varied small business divisions of cosmetics, hemp textiles, and meals and beverage. Visit or observe @floragrowthcorp on social for more information and facts.

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