Flora Growth Announces IPO
- Cannabis Industry

Flora Growth Announces IPO

Flora Growth Announces Pricing of $30 Million Public Offering

MIAMI & TORONTO-November 19, 2021-(BUSINESS WIRE)–Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, today announced the pricing of an underwritten public offering of 10,000,000 units (the “Units”), with each Unit consisting of one common share and one-half warrant (the “Unit Warrants”), each whole Unit Warrant entitling the holder thereof to purchase one Common Share. The Units are being sold at a public offering price of $3.00 per Unit. In addition, the Unit Warrants will have an exercise price of $3.75 per share, will be immediately exercisable, and will expire five years from the date of issuance. The offering is expected to close on November 23, 2021, subject to customary closing conditions.

A.G.P./Alliance Global Partners is the sole book-running manager for the public offering, and BMO Capital Markets and Roth Capital Partners are acting as co-managers. MKM Partners is acting as a financial advisor to the Company. Flora has granted the underwriters a 45-day option to purchase up to 15% of the total number of Units to be offered by us pursuant to this offering (excluding Units subject to this option), solely to cover over-allotments, if any, at the public offering price less the underwriting discount.

The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com or by visiting EDGAR on the SEC’s website at www.sec.gov.

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A registration statement relating to these securities was filed with the Securities and Exchange Commission and declared effective on November 18, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands that delivers the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse cosmetics, hemp textiles, and food and beverage business divisions.

Flora Growth Announces IPO

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