Flora Growth Corp. (NASDAQ: FLGC) recently announced that its board of directors has authorized the repurchase of up to $5 million of its outstanding common stock. “These recent developments underscore Flora’s management’s confidence in the direction the company is taking and its potential for growth as the year progresses. It also assures shareholders of the company’s commitment to generating shareholder value and exploring various opportunities to achieve this. As such, it only underscores the value of Flora as a good investment,” reads a recent post. “During the announcement, Luis Merchan, President and CEO of Flora, said, “Flora continues to act confidently to execute its growth plans while simultaneously improving gross profit margins and reducing company expenses. company. We are confident in the company’s short, medium and long-term growth prospects thanks to our strong brand portfolio in the market as well as our cultivation and export capabilities in life science research. The buyback program provides us with the opportunity to increase our stake in our portfolio of high-quality brands through our shares, which we believe are trading well below NAV. »
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About Flora Growth Corp.
Flora is building a connected, design-driven collective of plant-based wellness and lifestyle brands delivering the world’s most compelling customer experiences, one community at a time. As operator of one of the most extensive outdoor cannabis cultivation facilities, Flora relies on natural and cost-effective cultivation practices to supply cannabis derivatives to its commercial, brand house and science divisions. of life. Visit www.FloraGrowth.com or follow @floragrowthcorp on social media for more.
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