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New Company To Cover: They've added a Key Member


D. H. Taylor
(@dhtaylor)
Member Admin
Joined: 2 years ago
Posts: 689
Topic starter  

I am starting a new company to watch: Flora Growth, a Colombian outdoor grow cannabis company.  Feel free to add information as you find it on them, but here is the latest:

https://www.businesswire.com/portal/site/home/template.SINGLEPORTLET/action.process/search/?javax.portlet.action=true&currentTemplateID=PAGE&javax.portlet.tpst=503a8767054f0df6a9e77a100d908a0c&javax.portlet.begCacheTok=com.vignette.cachetoken&javax.portlet.endCacheTok=com.vignette.cachetoken


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Shain
 Shain
(@Shain)
Guest
Joined: 6 months ago
Posts: 1
 

Super cheap... Why? 


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D. H. Taylor
(@dhtaylor)
Member Admin
Joined: 2 years ago
Posts: 689
Topic starter  

@Shain I've not dove in just yet but, a few people have been telling me they look solid from their own analysis.  Unfortunately, super cheap is just about every single cannabis stock out there.

Flora Growth is gross profitable but, there is some more revenue needed to get to operating profitable.  Keep in mind, insurance companies are now required to pay for medical cannabis in Colombia.  And, the laws have made it extra-easy to obtain product.  I expect it will only take them about 2 quarters to get to EBITDA profitable.  Then, net profitable couldn't be too far off which would make this a cash machine given their low-cost grow price.  

I'll look in to them.  They seem like an interesting play.


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TheQueen
(@gtosali1967)
Estimable Member
Joined: 8 months ago
Posts: 104
 
Flora Growth Completes Successful First Cannabis Extraction Through New Facility, Initiates EU-GMP Certification Process
7:05 AM ET 1/11/22 | BusinessWire
   -- Flora's cultivation and extraction division, Cosechemos, completed 
      construction of a 10,500 ft2 state-of-the-art post-harvest and extraction 
      facility with annual capacity of 15,000 L of distillate 
 
   -- The first batch of crude oil has been extracted, where the product was 
      submitted to the Colombian Government to obtain Flora's 2022 quota for 
      High-THC derivatives, building on Flora's existing quota of 7,900 kg of 
      dried High-THC flower 
 
   -- Cosechemos has initiated the pre-audit process for EU-GMP certification, 
      which will enable export of medical-grade cannabis derivatives to 
      international markets when paired with its existing GACP certification 
MIAMI & TORONTO--(BUSINESS WIRE)--January 11, 2022-- 


Flora Growth Corp. (NASDAQ: FLGC) ("Flora" or the "Company"), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, announced today that its wholly owned subsidiary, Cosechemos, has produced the first batch of crude oil through its newly constructed extraction facility. Further, Cosechemos has initiated the process to become EU-GMP certified. The completed facility will serve as the Company's primary processing hub, facilitating the drying and processing of Flora's all-outdoor cultivated flower into finished, packaged dry flower and extracted material for domestic production and export to wholesale cannabis markets.

In December of 2021, Flora's laboratory quality assurance and regulatory team completed the installation and testing of all extraction equipment. The team successfully extracted the first batch of High-THC crude oil, where the product was submitted to the Colombian Government to obtain Flora's 2022 quota for THC derivatives. At this time, the team is continuing commercial CBD extraction.

With this major milestone complete, the company has initiated pre-audit work for the completion of the EU-GMP certification. Upon receipt of EU-GMP certification, and when paired with Flora Growth's recent Good Agricultural and Collection Practices (GACP) certification, Flora will be positioned to target international medical cannabis markets. Flora intends on leveraging its cost advantage - with the Company's low-cost, outdoor-cultivated cannabis grown as inexpensively as 6 cents per gram - to penetrate international medical cannabis markets with its low-cost dried flower and derivatives.

"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 Luis Merchan, President and CEO of Flora Growth. "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."

Flora Growth's post-harvest and extraction facility stands at 10,500 square feet at Flora's cultivation site in Bucaramanga, Colombia, bringing total extraction capacity to over 15,000 litres of distillate annually. The new facility is fully automated and features cryo-ethanol extraction that yields economical and high-quality cannabinoid derivatives at high-throughput. The facility expedites Flora's ability to produce dried and packaged flower, derivatives, distillate, and finished goods entirely in-house.

"Being fully integrated, with internal processing, paired with our expanding distribution channels, was a strategic decision and one that we believe will have long-term benefit as the cannabis derivatives market further stabilizes and expands," said Jason Warnock, CRO of Flora Growth. "This new facility will also help to increase the range of our product offerings, so that our team can not only produce high-quality cannabis flower, but also produce derivatives and active pharmaceutical ingredients (or APIs) for international medical markets."

About Flora Growth Corp.

Flora is building a connected, design-led collective, of plant-based wellness and lifestyle brands, that delivers 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 http://www.floragrowth.ca or follow @floragrowthcorp on social for more information.


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