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Flora Growth Corp. (“Flora” or the “Company”) is pleased to announce that its operations in Colombia will continue throughout the COVID-19 pandemic. Colombia has declared the agricultural industry as essential, thus allowing companies such as Flora to continue its operations.
Our focus is protecting the health and safety of our staff and to continue to grow Flora’s business. All of our employees are provided masks and have regular access to antibacterial soap and hand washing stations. We continue to monitor this situation but we do not expect any impact from the coronavirus on our cultivation business.
We are continuing to develop each of our other business lines, namely (1) food & beverage products through our acquisition of Mambe, (2) medical and over-the-counter products through our acquisition of Cronomed, and (3) Flora Beauty, our beauty and cosmetics division.
Mambe and Cronomed are actively working on their e-commerce distribution channels, and Cronomed is producing preventative coronavirus products, including kits containing hand-sanitizers and anti-bacterial wipes. Cronomed’s kits will be distributed by Rappi (the largest delivery service in Latin America) to ensure wide distribution in Colombia. Cronomed has also increased its production and sales of vitamin c and zinc supplements as well as antibiotics as these products are in high-demand to treat colds, flus and infections.
The Flora Beauty team is set to launch its inaugural product line through electronic channels in Q4 of this year. These products are innovative and have the potential to disrupt the beauty industry. Given the shuttering of brick & mortar stores globally, we expect electronic sales to be very strong this year which we expect to provide a boost to our product lines.
Damian Lopez, Flora’s CEO, commented: “As we navigate through these unprecedented times, Flora is focused on contributing to the efforts to fight the coronavirus while continuing to grow our business. We have made arrangements to ensure that employees in each of our business divisions are safe and we’ve implemented strict policies to reduce risk in compliance with government regulations.”
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.
This news release may contain forward-looking statements. These statements include statements regarding the Company’s operations, including the impact from the coronavirus on our business and our expectations with respect to electronic sales, the Company’s ability to distribute Cronomed’s kits in Colombia, and 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.