Investor Ideas Potcasts 615, Interview With President & CEO Of Flora Growth Corp
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Investor Ideas #Potcasts 615, #Cannabis News and #Stocks on the Move; Interview with President & CEO of Flora Growth Corp (NASDAQ: $FLGC)
Delta, Kelowna, BC, December 1, 2021 (Investorideas.com Newswire) www.Investoride, as.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site,www.potcasts.ca release today’s podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
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Read this in full at Investor Ideas Potcasts #615, Cannabis News and Stocks on the Move; Interview with President & CEO of Flora Growth Corp (NASDAQ: $FLGC)
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Today’s podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today’s podcast Investorideas interviews Luis Merchan, President & CEO of Flora Growth Corp. (NASDAQ: FLGC), where we discussed the recent move by JP Morgan to stop trading on some cannabis stocks and how this impacts the industry, how Flora Growth has developed as an international cannabis company as well as how the industry is expanding internationally.
Luis Merchan, President and CEO of Flora Growth Corp., is a New York & Miami-based executive with over a decade of proven experience in enterprise sales management, corporate strategy, merchandising and expense management, and customer experience. During Luis’ term as Flora CEO, the company has added over 10,000 new investors, went public on the Nasdaq in May 2021, and now organized to support a portfolio of organic cannabis-based products rapidly growing through acquisitions and partnerships.
Flora Growth Corp most recently signed a licensing agreement with luxury goods brand Tonino Lamborghini to sell cannabidiol-infused beverages in North America and Colombia.
The two companies will first launch coffee infused with cannabidiol (CBD), a non-psychoactive compound of cannabis that has found increased use as a relaxative.
"The cannabis market represents a very interesting niche and we intend to offer a different luxury experience," Tonino Lamborghini Chief Executive Officer Ferruccio Lamborghini, whose grandfather founded the supercar brand, said in an email. He added that his company has been in the coffee sector for over 30 years, with a line of premium espresso blends.
Tonino Lamborghini is not affiliated with the carmaker, now a unit of Volkswagen, but run by members of the Lamborghini family.
Merchan discussed some of the company’s other more recent announcements such as the recent acquisition of 100% of Vessel Brand Inc. for aggregate consideration of US$30M, consisting of a combination of cash and the issuance of Flora common shares, their agreement with SHOWFIELDS to feature its two skincare brands, MIND Naturals and Awe (Ô), at its flagship location in South Beach, Miami, as well as through its online store as well as their agreement with with GlossWire to feature its two skincare brands, MIND Naturals, and Awe (Ô), on GlossWire's digital beauty marketplace.
Flora Growth is the operator of one of the largest outdoor cannabis cultivation facilities and Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage.
When asked about Flora’s production coming out of Colombia, Merchan commented, “when you compare North American cannabis cultivators to those of cultivators along the equator, you’re talking about a cost efficiency comparison of about twenty-five times. Colombia has a seasonless geography and an agricultural know-how that has existed for decades. Cannabis is considered a specialty cut flower and in the 1990’s there was a boom in specialty cut flowers South America and Colombia became the number one producer of cut flowers in the world and that is still true today. It is one of the number two exporters of flowers in the world and 70% of all the flowers that come into the U.S. come from Colombia. When you combine these factors, agricultural know-how, geography and cost, you’re able to reach production costs that cannot be compared with North America. At Flora we have reached a production cost of $0.06 per gram for dried flower, compared to over $1.00 from North American counterparts. It’s important to highlight that we are also doing so with the highest standards of quality, GACP certified, observing organic practices which will help us become a global cannabis player in the short term.”
Merchan went on to discuss how he expects this industry to evolve both internationally and domestically in the U.S., how the company’s acquisition of Vessel is expected to strengthen Flora’s growth and development and how specifically Flora has helped separate themselves from some of their competitors.
Visit www.floragrowth.com or follow @floragrowthcorp on social for more information.
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