Flora Growth Corp. Announces Pricing of Initial Public Offering
May 11 2021 - 8:00AM
Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), an
all-outdoor cultivator and manufacturer of cannabis-derived
products and brands, today announced the pricing of its initial
public offering of 3,333,333 shares of its common stock, at the
high end of the proposed price range of US$5.00 per share
to the public for a total of US$16,666,665 of gross
proceeds to the Company.
The common stock is expected to begin trading on
the Nasdaq Capital Market today under the symbol "FLGC." The
offering is expected to close on May 13, 2021, subject to
customary closing conditions. Boustead Securities, LLC acted as the
sole underwriter for the offering (the “Underwriter”) with MKM
Partners acting as co-Manager. The Underwriter has been granted an
overallotment option to purchase up to an additional 500,000 Common
Shares in the next 45 days at the offering price of $5.00 per
share.
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 Boustead Securities,
LLC, via email: offerings@boustead1828.com or by calling
+1 (949) 502-4408 or requested by standard mail at Boustead
Securities, LLC, Attn: Equity Capital Markets, 6 Venture, Suite
395, Irvine, CA 92618, USA. In addition, a copy of
the final prospectus, when available, relating to the offering may
be obtained via the SEC's website at www.sec.gov.
A registration statement relating to these
securities was filed with the Securities and Exchange Commission
and was declared effective on May 10, 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 Growth is a cannabis company that will
leverage natural, cost-effective cultivation practices to supply
cannabis derivatives to its diverse business divisions of
cosmetics, hemp textiles, and food and beverage. As the operator of
one of the largest outdoor cultivation facilities, Flora strives to
market a higher-quality premium product at below market prices. By
prioritizing natural ingredients and value-chain sustainability
across its portfolio, Flora creates premium products that help
consumers restore and thrive. Visit www.floragrowth.ca or follow
@floragrowthcorp on social for more information.
Investor Relations Contact:Evan Veryard+1 416
571 9037evan.veryard@floragrowth.ca
Public Relations Contact:Cassandra Dowell+1
(847) 271-3443cassandra@cmwmedia.com
For Underwriter Inquiries Please
Contact:Boustead Securities, LLCDaniel J. McClory, Head of
Equity Capital MarketsTel: +1 949 502 4408Email:
dan@boustead1828.com
Cautionary Statement Concerning Forward-Looking
Statements
This document contains forward-looking
statements. In addition, from time to time, we or our
representatives may make forward-looking statements orally or in
writing. We base these forward-looking statements on our
expectations and projections about future events, which we derive
from the information currently available to us. Such
forward-looking statements relate to future events or our future
performance, including: our financial performance and projections;
our growth in revenue and earnings; and our business prospects and
opportunities. You can identify forward-looking statements by
those that are not historical in nature, particularly those that
use terminology such as “may,” “should,” “expects,” “anticipates,”
“contemplates,” “estimates,” “believes,” “plans,” “projected,”
“predicts,” “potential,” or “hopes” or the negative of these or
similar terms. In evaluating these forward-looking
statements, you should consider various factors, including: our
ability to change the direction of the Company; our ability to keep
pace with new technology and changing market needs; and the
competitive environment of our business. These and other
factors may cause our actual results to differ materially from any
forward-looking statement. Forward-looking statements are
only predictions. The forward-looking events discussed in
this document and other statements made from time to time by us or
our representatives, may not occur, and actual events and results
may differ materially and are subject to risks, uncertainties and
assumptions about us. We are not obligated to publicly update
or revise any forward-looking statement, whether as a result of
uncertainties and assumptions, the forward-looking events discussed
in this document and other statements made from time to time by us
or our representatives might not occur.
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