MIAMI & TORONTO–(Company WIRE)–Oct 21, 2021–
Flora Expansion Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a foremost all-out of doors cultivator and company of worldwide hashish products and brands, declared currently that its Flora Lab division is launching a new hashish wellness manufacturer, Munzhi.
“Through market place scientific tests, shoppers have indicated they want the wellness rewards of cannabis, but at an economical selling price. Munzhi assists fill that need to have as effectively as an crucial gap in our products portfolio,” mentioned Luis Merchan, President and CEO of Flora Expansion. “The inaugural collection for Munzhi involves 12 items across 4 categories: Wellness, Hair, Physique, and Deal with. The selection brings together the rewards of cannabidiol (“CBD”) as an energetic component, with other plant-primarily based ingredients these kinds of as lavender oil and chamomile coconut among other folks.”
According to Attractiveness and Individual Treatment Euromonitor, the wellness current market in Colombia is valued at US$2.3B. Initially, Munzhi will target this market place with solutions such as facial serum, shampoo, conditioner, shower gel, physique ointment, and a moisturizing lotion amongst some others. Over time, the manufacturer portfolio will increase primarily based on evolving market place demand from customers and internal R&D projects.
Flora Lab serves as Flora Growth’s manufacturing and study and progress division for prescribed drugs, cosmetics, and nutraceuticals. Before this Tumble, Flora Lab received its cosmetics GMP certification from INVIMA to manufacture cosmetics products.
The facility is a contemporary 16,000-sq.-ft production facility that retains 3 GMP certifications and boasts a diversified portfolio with more than 190 solutions and 63 around-the-counter (“OTC”) products registered and certified with INVIMA (Colombian Food and drug administration equivalent). The division is concentrated on increasing its 2,500+ distribution channels and developing new cannabinoid and non-cannabinoid that contains merchandise to provide to its community of pharmacies and wholesale customers domestically and internationally.
About Flora Progress Corp.
Flora is a cannabis firm that leverages all-natural, cost-efficient cultivation procedures to supply cannabis derivatives to its numerous company divisions of cosmetics, hemp textiles, and foodstuff and beverage. As the operator of one particular of the largest out of doors cultivation facilities, Flora strives to market a bigger-quality top quality products at down below market rates. By prioritizing normal ingredients and price-chain sustainability throughout its portfolio, Flora generates top quality goods that assistance individuals restore and thrive. Stop by www.floragrowth.ca or follow @floragrowthcorp on social for much more information.
Cautionary Assertion Regarding Ahead-Wanting Statements
This doc includes ahead-looking statements. In addition, from time to time, we or our representatives may perhaps make forward-searching statements orally or in writing. We foundation these ahead-on the lookout statements on our anticipations and projections about future occasions, which we derive from the information at the moment accessible to us. These forward-wanting statements relate to future events or our future effectiveness, which includes: the dimensions of marketplaces for cannabis and hashish goods Flora’s capability to execute on its analysis and pharmaceutical techniques the benefits of Flora’s investigation the collaboration with third functions and our company prospects and opportunities. You can recognize forward-seeking statements by individuals that are not historic in character, especially those people that use terminology this sort of as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or very similar terms. In evaluating these forward-hunting statements, you ought to think about various variables, including: our potential to alter the route of the Firm our skill to retain tempo with new engineering and changing sector demands and the competitive environment of our business enterprise. These and other factors could cause our real outcomes to differ materially from any ahead-looking statement. Ahead-hunting statements are only predictions. The ahead-looking gatherings reviewed in this doc and other statements designed from time to time by us or our reps may perhaps not happen, and true occasions and final results may vary materially and are issue to hazards, uncertainties and assumptions about us. We undertake no obligation to publicly update or revise any ahead-seeking assertion, no matter whether as a end result of uncertainties and assumptions, or the ahead-hunting activities talked about in this doc and other statements made from time to time by us or our representatives not occurring, except as may perhaps be expected by applicable legislation.
Look at resource variation on businesswire.com:https://www.businesswire.com/information/property/20211021005435/en/
Call: Investor Relations Get hold of:
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Search phrase: UNITED STATES NORTH The united states CANADA FLORIDA
Sector Key phrase: Different Drugs COSMETICS RETAIL Health Manufacturing TEXTILES Foodstuff/BEVERAGE
Supply: Flora Progress Corp.
Copyright Business enterprise Wire 2021.
PUB: 10/21/2021 07:00 AM/DISC: 10/21/2021 07:01 AM
http://www.businesswire.com/information/house/20211021005435/en
Copyright Enterprise Wire 2021.
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