Corporate Tax

Flora Development Proclaims Headquarters Relocation | Corporations

TORONTO – (BUSINESS WIRE) – Sept. July 2021–

Flora Growth Corp. (NASDAQ: FLGC) (“Flora”, “Flora Growth” or the “Company”), an all-outdoor cultivator and maker of cannabis-derived products and brands, is pleased to announce that, following an extensive review process, plans to do so Company to relocate headquarters to Miami, Florida by Q1 2022.

The company has limited its search to downtown Miami’s, specifically the Brickell financial district, one of the fastest growing destinations in the United States. The new location is expected to be significantly larger than the current office space in Toronto, Ontario, and will provide the much-needed space for Flora to manage its significant growth and attract high-level talent.

“As part of our long-term strategic growth plans, we put together an evaluation committee and conducted a comprehensive site review process that took into account a number of different criteria, underpinned by our focus on developing global growth opportunities,” said Luis Merchan, President and CEO of Flora Growth. “By focusing on the specific needs of our business both now and in the future, we have focused on eight cities in the United States, with a focus on travel & logistics (including time zone), business climate (state corporate tax rate and receptivity to the cannabis industry) and personal life factors (including talent pool and cost of living) to effectively conduct our analysis. Ultimately, our due diligence process ended with us choosing Miami as our preferred city in order to establish our roots. We are excited to invest in and develop a closer relationship with the Miami business community, and to foster new opportunities for collaboration and innovation through our new headquarters. “

The new space will reflect the pioneering culture of Flora and is intended to be a phenomenal place to work, visit and visit. Learn more about its global divisions and brands. The office space will feature technology-enabled conference rooms and hot desk solutions, where team members can collaborate on solutions with colleagues, customers, partners and external employees around the world. Flora will continue to have an administrative office in Toronto, Ontario.

About Flora Growth Corp.

Flora is a cannabis company that uses natural, low-cost cultivation practices to supply cannabis derivatives to its various cosmetics, hemp textiles, and food and beverage businesses. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher quality premium product at prices below market prices. By prioritizing natural ingredients and maintaining value chain sustainability across the portfolio, Flora creates premium products that help consumers recover and thrive. Visit or follow @floragrowthcorp on social media for more information.

Cautionary Note Regarding Forward-Looking Statements

This document contains forward-looking statements. In addition, we or our agents may from time to time make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and forecasts of future events that we derive from the information currently available to us. Such forward-looking statements address future events or our future performance, including: the location of our offices; our financial performance and projections; our sales and earnings growth; 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, especially those that contain terms such as “may”, “should”, “expects”, “expects”, “considers”, “estimates”, “believes” ” Plans ”,“ projected ”,“ forecasts ”,“ 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 demands; and the competitive environment of our company. These and other factors could cause our actual results to differ materially from those expressed in the forward-looking statements. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made by us or our agents from time to time may not occur and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We assume no obligation to publicly update or revise any forward-looking statements, whether due to 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 that do not occur, unless , this is required under applicable law.

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Cassandra Dowell

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SOURCE: Flora Growth Corp.

Copyright Business Wire 2021.

PUB: 07/22/2021 07:30 am / DISC: 07/22/2021 07:32 am

Copyright Business Wire 2021.

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