Flora Growth Completes Construction of Laboratory, Specializing in Prescription Cannabis Formulations

Business Wire – Nov 16, 2022 

FORT LAUDERDALE, Fla. & TORONTO — Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, announced today the completion of its new laboratory, specializing in the manufacturing of compound formulations utilizing cannabis derivatives and traditional master formulas. Located in Bogota, Colombia, Flora Lab 4 will become part of Flora’s group of laboratories including existing labs that produce cosmetics, phytotherapeutic products, dietary supplements, and cannabis extraction and transformation.

“The completion of Flora Lab 4 is an important step in Flora Growth’s progress toward commercializing medicinal cannabis. This lab is built to produce prescription grade medications and manufacture cannabis-based formulations,” said Luis Merchan, Chairman and CEO of Flora Growth Corp. “We look forward to giving access to prescribing doctors in Colombia and more importantly, to patients who stand to benefit from safe, high quality medicinal cannabis.”

The new laboratory will offer design, development, and manufacturing services of master formulas for third parties, making available to clients its knowledge of cannabis, its professional team, and modern facilities to promote growth in the sector.

Flora Lab 4’s initial prescription formulations have been developed to support the treatment of specific ailments such as social anxiety and acne. The laboratory is waiting for a regulatory inspection by INVIMA to complete certification. Once this step is complete, the new formulations will be available to prescribing doctors in Colombia.

Flora Growth is focused on creating long-term growth within its Life Sciences division through utilizing raw materials from its cannabis cultivation and processing operations in Colombia for applied research initiatives in medical cannabis around the world. The Lab will serve as the Company’s hub of discovery, development, manufacturing, and commercialization of phytocannabinoid-based prescription medicines and nutraceutical products to address a broad range of ailments and diseases.

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