M&A

Flora Growth Corp. has been positioning itself on the international cannabis stage for years. The Canadian-based producer of cannabinoid organic oils, infused food, and beverage, pharmaceutical grad, medical, and cosmetic-grade derivatives is serving all 50 U.S. states and 28 countries with over 20,000 points of distribution around the world. The company's latest move to further cement its global footprint comes simultaneously with a new German cannabis law that went into effect this Monday, which partially legalized cannabis. Currently, it allows adults over 18 in Germany can legally possess up to 25 grams of dried cannabis and cultivate up to three marijuana plants at home. Flora Growth, which through its wholly-owned subsidiaries has been active in Germany since 2017, revealed last week its plans to launch a cannabis home grow kit, and start up material seeds and cuttings in the European country as it enters the first phase of new recreational cannabis legalization law. This doesn't come as a surprise considering the cannabis recreational market, as per the company's expectations, has the potential to reach $4.2 billion upon legalization with the total European market forecasted to achieve revenues of $10.2 billion.