Benzinga | May 14, 2021 07:04AM EDT

Flora Growth Reports Expansion Into UK, Costa Rica, To Fulfill Initial Orders From 2 New Distributors, No Terms Disclosed

Flora Growth Corp. (NASDAQ:FLGC) ("Flora" or the "Company"), an all-outdoor cultivator and manufacturer of cannabis-derived products and brands, today announced it has expanded into the United Kingdom (the "UK") and Costa Rica, fulfilling initial orders from two new distributors. Specifically, Flora's Kasa Wholefoods division ("Kasa") has fulfilled an initial shipment of Mambe juices to a distributor for the Central American food and beverage market, while an initial shipment of Almost Virgin, Mind Naturals and Mambe products was fulfilled to the UK.

UK Expansion

Flora is pleased to announce that it has completed an initial shipment of products from its Mind Naturals, Almost Virgin, and Mambe brands to the UK. This order is a significant milestone for Flora, as it represents the Company's first shipment of CBD-containing products into Europe. Going forward, Flora intends to expand on its relationship in the UK to bring its entire product portfolio into the UK market and into adjacent markets throughout the European Union.

Central American Expansion

In April 2021, Kasa signed a distribution agreement with GMD Latinoam?rica, a Costa Rica-based distributor for the Central American food and beverage market. Exports will begin in Puerto Limon, Costa Rica. Kasa is also in the process of registering additional product lines of its portfolio for the Central American and Caribbean markets.

"Flora Growth's expansion into the UK and Central America aligns perfectly with our strategy of aggressive expansion into new markets, as we continue to establish our premium brands' international presence," said Flora CEO Luis Merchan. "We look forward to working with our new distribution partners in both Europe and Central America and hope to expand even further into both continents in the coming months."