NetworkNewsBreaks – Flora Growth Corp. (NASDAQ:
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Posted On: 04/04/2022 3:12:19 PM
NetworkNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Preps First Export Following Colombia’s New Export Regulations
Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has announced that Colombia has completed its required regulations to allow cannabis companies operating in the country, including Flora Growth, to export THC and CBD dried flower. The country passed Resolution 539 on April 1, 2022, which is a regulatory checklist for companies; the resolution includes export quotas. The export steps included in the resolution outline adjustments to Flora’s approved 43.6-ton quota, which means the addition of dried flower can be included with FLGC’s existing purchase agreements from countries including Germany, Israel, Australia, South Africa, Portugal and Malta. According to the company, the updated regulation also includes a requirement for genetics registrations for all high-THC cultivars. The company also noted that its quota already permitted the export of derivative products produced at its cultivation facility. “Flora applauds the recent announcement by the Colombian government as we have been working diligently to have all the necessary approvals and capabilities available to produce high THC flower, including multiple cannabis strains with THC levels over 20 percent,” said Flora Growth’s chief commercial officer Jason Warnock in the press release. “This resolution also clears the path to export dried CBD flower to markets including the United States where Flora already sells hundreds of CBD products via owned brands like JustCBD, MIND, and Mambe.”
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 (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, has announced that Colombia has completed its required regulations to allow cannabis companies operating in the country, including Flora Growth, to export THC and CBD dried flower. The country passed Resolution 539 on April 1, 2022, which is a regulatory checklist for companies; the resolution includes export quotas. The export steps included in the resolution outline adjustments to Flora’s approved 43.6-ton quota, which means the addition of dried flower can be included with FLGC’s existing purchase agreements from countries including Germany, Israel, Australia, South Africa, Portugal and Malta. According to the company, the updated regulation also includes a requirement for genetics registrations for all high-THC cultivars. The company also noted that its quota already permitted the export of derivative products produced at its cultivation facility. “Flora applauds the recent announcement by the Colombian government as we have been working diligently to have all the necessary approvals and capabilities available to produce high THC flower, including multiple cannabis strains with THC levels over 20 percent,” said Flora Growth’s chief commercial officer Jason Warnock in the press release. “This resolution also clears the path to export dried CBD flower to markets including the United States where Flora already sells hundreds of CBD products via owned brands like JustCBD, MIND, and Mambe.”
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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