- Flora Growth (NASDAQ:FLGC) stated Wednesday that its Vessel brand has signed a distribution deal with Florida-based firm - Speedy Distribution- one of JustCBD’s core partners
- The news follows the Flora's acquisition of JustCBD Brand, operating in consumable cannabinoid market. The deal closed at $16M cash plus 9.5M privately issued Flora common shares.
- Flora expects JustCBD’s financial performance to immediately contribute to its 2022 revenues and earnings.
- Vessels distribution agreement with Speedy will see initial product offering of the highest demand SKUs from its vape and dry herb categories in the attempt to expand into traditional smokeshop channels.
- "We see this agreement as the first of many where we leverage JustCBD’s existing distribution network and Flora’s diverse product portfolio to amplify growth for our combined Company,” said Hussein Rakine, JustCBD CEO.
- Also, Flora announced that it will hold a webinar with JustCBD CEO Hussein Rakine, Flora’s CEO Luis Merchan and Chief Strategy Officer James Choe on Mar. 2 at 1 PM ET.