Flora Growth (NASDAQ: FLGC), a cannabis-focused consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000-plus points of distribution around the world, is applauding Germany’s upper house lawmakers. The company noted that the government officials passed a recreational cannabis legalization bill, following the bill’s approval by the lower house in February. According to the announcement, the bill, which should go into effect April 1, 2024, will be among the most progressive cannabis-use laws in the world. The legislation makes it legal to cultivate up to three plants for private consumption and to possess 50 grams of cannabis at one time at home and 25 grams in public. The German parliament also voted to declassify cannabis as a narcotic, ease narcotic prescription requirements and make patient access easier. Flora Growth has been active in Germany since 2017 through its wholly-owned subsidiaries; the company received the first medical cannabis license in the country and sold the first gram of medical cannabis in the country. “We welcome Germany’s definitive legalization of recreational cannabis,” said Flora Growth CEO Clifford Starke in the press release. “Our German business represents a significant component of Flora’s global operations and a strategic growth market for the company. We are excited about the potential of the new legislation on our company.”
To view the full press release, visit https://ibn.fm/gcnn0
About Flora Growth Corp.
Flora Growth is a cannabis-focused consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000-plus points of distribution around the world. For more information about the company, please visit www.FloraGrowth.com.
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://ibn.fm/FLGC
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