Flora Appoints New President of Consumer Goods

June 29, 2020

Flora Growth Corp. (“Flora” or the “Company”) is pleased to announce that it has appointed Luis Merchan as its new President of Consumer Goods to lead Flora’s diverse brand portfolio of CBD products.

“We are incredibly excited to have someone of Luis’ caliber to lead Flora’s brand portfolio,” commented Flora Growth’s CEO, Damian Lopez. “He is an impressive leader who will have an immediate and lasting impact on Flora’s development as we ramp up sales in each of our consumer facing divisions.”

About Luis Merchan

Luis Merchan is a proven executive with over 10 years of experience in enterprise sales management from industry leading consumer package goods (“CPG”) companies. He has a background in corporate strategy, merchandising and expense management, and customer experience. He joins Flora after serving as Macy’s Inc.’s Vice President of Workforce Strategy and Operations where he managed the enterprise's multi-billion dollar P&L expense line for the 540 store portfolio.

Throughout his 10-year tenure at Macy’s, Mr. Merchan led various sales and marketing initiatives including the B2B corporate sales team that was responsible for $160 million in annual revenue and 15% year over year growth. Prior to his most recent role, Mr. Merchan held various executive-level roles at Macy’s Inc., including VP of Customer Experience and Selling Support Services and Group VP of National Merchandising and Sales - Beauty, as well as managerial roles at Target Corporation.

Mr. Merchan obtained his Bachelor of Industrial Engineering from Pontifical Xaverian University in Bogota, Colombia and his MBA from McNeese State University. He also holds a Graduate Certificate in Marketing Management from Harvard.

Luis Merchan commented on his new role, “Flora has incredible potential and I’m thrilled to be joining the company to help develop its brand portfolio. Flora’s focus on organic and sustainable production methods will resonate with consumers and differentiate the company in the global CBD space. I look forward to leveraging my experience to grow our market share and create long-term value for shareholders.”

The appointment of Mr. Merchan fills a vacant role at the Company. Mr. Merchan will immediately take control of sales and operations at the corporate level, overseeing Flora’s consumer facing brand divisions of Breeze Laboratory, Cronomed, Mambe and Flora Beauty.

Damian Lopez added, “Luis is a proven CPG executive that will help execute Flora’s strategy and make us a global leader in the CBD space. Our brand divisions have already been working with Luis over the prior months and will continue leveraging his industry expertise to strengthen their market position and generate returns for investors.”

Flora Growth Corp.

At Flora, we are building the world’s largest vertically-integrated, low-cost producer of organic, pharmaceutical grade CBD oils and extracts and CBD-infused consumer products.

For further information, contact:

Evan Veryard
+1 416 571 9037
Website: www.floragrowth.ca

Cautionary Notes  

This news release may contain forward-looking statements. These statements include statements regarding the Company’s operations, including Luis Merchan’s appointment, the development of Flora’s consumer facing divisions, , and the Company’s strategy, future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

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