Benzinga | Sep 16, 2021 07:06AM EDT

Flora Growth Signs Letter Of Intent To Enter Panama, Applauds Recent Cannabis Law Reforms

* Flora signs Letter of Intent with an international importer and distributor based in Panama to provide cannabinoid containing food and beverages through its Kasa Wholefoods division, and finished cannabis derivative products for medical cannabis patients

* Recent passage of cannabis legislative in Panama legalizes the use of medical cannabis and creates regulatory framework to monitor and control access.

* Pharmacies will be responsible for the distribution of medical cannabis products and will need to apply for a permit and pass a site inspection (valid initially for two years)

* Domestic production will take place, though only seven licenses for the manufacturing of cannabis seeds, plants, and derivatives will be granted