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Global Weed Business: Flora Buys Australian Vaporizers As IM Cannabis Doubles Down On Germany

By Jelena Martinovic
June 5, 1:48 PM
Lifeist Wellness Inc. (TSXV: LFST) (FRANKFURT: M5B) (OTCMKTS: LFSWF) said on Wednesday the sale of Australian Vaporizers Pty Ltd., its wholly owned Australian subsidiary to Flora Growth Corp. (NASDAQ: FLGC).The sale, first announced in September 2023, was wrapped up through a share purchase agreement, under which Lifeist has sold the issued and outstanding shares of Aussie Vapes to Flora, for roughly CA$900,000 ($658,439). The sum is payable by Flora issuing from treasury to Lifeist 550,000 of its common shares.In the meantime,

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Cannabis Joint Venture Looks To Capitalize On Marijuana Beverages As Growing Alternative To Alcohol

By Jelena Martinovic
June 4, 2:05 PM
Flora Growth Corp. (NASDAQ: FLGC) has formed a joint venture with Althea Group Holdings (ASX: AGH) to debut in the hemp-derived beverage market.Peak USA JV LLC is designed to capitalize on current commercial opportunities in the beverage market in the U.S.It will utilize and combine Flora's U.S.-based CPG team with Althea's Peak Processing Solutions - which is a recognized operator in the cannabis-infused beverages space. Peak has a 40% market share in Canada.

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‘Justice Department Poised To Post Plans For Marijuana Reclassification; This Is The Next Step In The Rescheduling Process Begun By President Joe Biden In October 2022 That Is Set To Be The Largest Shift In Federal Drug Policy In Decades’ – Politico

By Benzinga Newsdesk
May 16, 12:43 PM
https://subscriber.politicopro.com/article/2024/05/justice-department-poised-to-post-plans-for-marijuana-reclassification-00158378The Department of Justice plans to issue a notice of proposed rulemaking on Thursday that

ACB

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Another Cannabis Pioneer Expands In Germany Via Acquisition As Experts Say ‘There’s No Stepping Back’ From Legalization Wave

By Jelena Martinovic
April 17, 12:28 PM
Flora Growth Corp. has entered into a definitive agreement to acquire all of the issued and outstanding shares of Hamburg, Germany-based TruHC Pharma GmbH. The company's latest move to further cement its global footprint comes on the heels of a new German cannabis law that went into effect on April 1, which partially legalized cannabis. The new law allows adults over 18 in Germany to legally possess up to 25 grams of dried cannabis and cultivate up to three marijuana plants at home.As previously announced, Flora agreed to purchase TruHC Pharma GmbH in an all-stock deal in exchange for 2,770,562 of its common shares, valued at $6.4 million.

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