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Flora Growth Corp. (“Flora” or the “Company”) is pleased to announce that it has entered into a term-sheet with Rappi S.A.S. to develop a strategic alliance between the parties, through which Flora will have the right to exhibit and offer its CBD-products through Rappi’s virtual platform (the “Strategic Alliance”).
Rappi is an all-purpose delivery application that aims to be the personal assistant for its users. The Latin American based start-up is present in Brazil, Colombia, Mexico, Argentina, Chile, Uruguay and Peru. Through its platform, it is possible to buy products of different categories, from Restaurants, Supermarkets and Beverages to literally anything. In addition, the application has a virtual wallet, RappiPay, where it is possible to make transfers and even payments in establishments. Rappi has over 13 million users and 20,000 couriers in Colombia alone.
Damian Lopez, Flora’s CEO, commented: “We’re proud to be working with Rappi, Colombia’s unicorn start-up. Rappi has an impressive user-base and courier system that is constantly expanding. This strategic alliance will allow us to sell our innovative CBD-infused products to Rappi’s millions of users in seven countries. Like Rappi, Flora is looking to become a Colombian unicorn with global reach.”
The Strategic Alliance is subject to the parties negotiating and entering into a definitive cooperation agreement.
Flora Growth Corp.
At Flora, we are building the world’s largest and lowest cost vertically-integrated producer of organic cannabis oils, CBD-infused food & beverage, pharmaceutical-grade, medical and cosmetic-grade derivatives from the cannabis plant.
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This news release may contain forward-looking statements. These statements include statements regarding the Company’s operations, the Company’s ability to enter into a cooperation agreement and roll-out its operations with Rappi, the Company’s 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.