TORONTO, June 29, 2021 (GLOBE NEWSWIRE) — Flora Growth Corp. (NASDAQ: FLGC) (“Flora”, “Flora Growth”, or the “Company”), an all-outdoor cultivator and manufacturer of cannabis-derived products and brands, is pleased to announce that its commitment to environmental sustainability will be represented across the Company’s value chain. Flora Growth’s sustainability initiatives will focus on the modern eco-conscious consumer looking for products made with cruelty-free, natural ingredients in sustainable, biodegradable packaging.
“At Flora, we have made sustainability a pillar of our strategy. We are doing this because consumers are guiding us in this direction, because we’re committed to our planet and our people,” said Luis Merchan, President and CEO of Flora Growth Corp. “From social equity and sustainable packaging to water and energy-saving practices, Flora is committed to sustainability across our value chain.”
Flora Growth considers its impact on the environment at the global level and acts at a local level to have a positive impact on the community and consumers. Flora Growth maximizes return on capital invested by utilizing the entire plant to reduce waste and sensibly maintain operational flexibility to scale production and capitalize on growing wholesale and retail demand for its premium product portfolio. Flora’s product portfolio spans a variety of verticals – from skincare to food & beverage – each with thoughtful sustainability goals that resonate with consumers. Some recent initiatives include:
- Flora Growth follows organic cultivation practices which help prevent loss of topsoil, toxic runoff, water pollution and soil contamination. It also ensures consumers have access to all-outdoor organic cannabis.
- Flora Growth’s skin care brand Mind Naturals, founded by former Miss Universe Paulina Vega, launched its Extra Hydrating Cream with cannabidiol (CBD) in a 100% biodegradable container and plans to implement this effort across the product portfolio.
- Mambe, the primary brand behind Flora’s KASA Wholefoods division, currently uses 100% recyclable glass bottles for their beverage products.
- Stardog Loungewear, the inaugural brand from Flora’s Hemp Textiles division, caters to consumers looking for comfortable loungewear made from natural materials and who value quality over wasteful fast fashion. The products are hand-made in Colombia and fair trade, and utilize the whole of the cannabis plant to decrease waste.
“In the wake of the COVID-19 pandemic, the use of plastic has increased exponentially. Millions of people using single-use biosafety elements and sectors, such as personal care and beauty, generate a lot of pollution that unfortunately reaches the oceans,” said Paulina Vega, founder of Flora Beauty, a subsidiary of Flora Growth. “We are working to combat this with our sustainability initiatives to do our part for the planet and people.”
The consideration of Flora’s environmental and social impact, however, does not stop with cannabis cultivation practices. Flora also screens all potential inputs, packaging and social outcomes associated with its product portfolio. For any further questions about Flora’s sustainability practices, please visit: floragrowth.ca/sustainability.
About Flora Growth Corp.
Flora is a cannabis company that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive. Visit www.floragrowth.ca or follow @floragrowthcorp on social media for more information.
Investor Relations Contact:
Evan Veryard
evan.veryard@floragrowth.ca
Public Relations Contact:
Cassandra Dowell
+1 (858) 264-6600
flora@cmwmedia.com
Cautionary Statement Concerning Forward-Looking Statements
This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; our environmental and sustainability practices and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, or the forward-looking events discussed in this document and other statements made from time to time by us or our representatives not occurring, except as may be required by applicable law.
