NetworkNewsBreaks – Flora Growth Corp. (NASDAQ:
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Posted On: 01/11/2022 4:22:01 PM
NetworkNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Announces Completion of First Cannabis Extraction Through New Facility
Flora Growth’s (NASDAQ: FLGC) wholly owned subsidiary, Cosechemos, has produced the first batch of crude oil through its newly constructed extraction facility. FLGC, a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, made the announcement, adding that the 10,500-square-foot plant, which has an annual capacity to produce 15,000 L of distillate, is also taking steps to become EU-GMP certified. Full certification will allow the company to export medical-grade cannabis derivatives to international markets. The plant is Flora Growth’s primary processing location and facilitates the drying and processing of the company’s all-outdoor cultivated flower into finished, packaged dry flower and extracted material for domestic production as well as export to wholesale cannabis markets. “Global cannabis markets are growing at an incredible rate, and Flora is ready to meet that demand for cannabis-derivatives with the completion of our new EU-GMP compliant extraction facility in Colombia,” said Flora Growth president and CEO Luis Merchan in the press release. “This is another major step for Flora Growth, as we are now in a position to seek EU-GMP certification, with the ultimate goal of disrupting the global cannabis derivatives market with our low-cost product. Further, the completion of the facility immediately allows us to supply extracts and derivatives to our CPG portfolio, including Flora Beauty and Kasa brands, unlocking additional cost efficiencies.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Flora Growth’s (NASDAQ: FLGC) wholly owned subsidiary, Cosechemos, has produced the first batch of crude oil through its newly constructed extraction facility. FLGC, a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, made the announcement, adding that the 10,500-square-foot plant, which has an annual capacity to produce 15,000 L of distillate, is also taking steps to become EU-GMP certified. Full certification will allow the company to export medical-grade cannabis derivatives to international markets. The plant is Flora Growth’s primary processing location and facilitates the drying and processing of the company’s all-outdoor cultivated flower into finished, packaged dry flower and extracted material for domestic production as well as export to wholesale cannabis markets. “Global cannabis markets are growing at an incredible rate, and Flora is ready to meet that demand for cannabis-derivatives with the completion of our new EU-GMP compliant extraction facility in Colombia,” said Flora Growth president and CEO Luis Merchan in the press release. “This is another major step for Flora Growth, as we are now in a position to seek EU-GMP certification, with the ultimate goal of disrupting the global cannabis derivatives market with our low-cost product. Further, the completion of the facility immediately allows us to supply extracts and derivatives to our CPG portfolio, including Flora Beauty and Kasa brands, unlocking additional cost efficiencies.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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