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TinyGemsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Reports Majority of Franchise Global Health (TSX.V: FGH) Shareholders Approve Acquisition

Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, is one step closer to completing its previously announced acquisition of Franchise Global Health (TSX.V: FGH). FLGC announced that holders of more than 73% of the outstanding shares of FGH have agreed to vote their shares in favor of Flora’s acquisition of FGH; the voting will take place during FGH’s special meeting of shareholders, scheduled for Dec. 13, 2022. The completion of the acquisition remains subject to customary closing conditions, including approval of the plan of arrangement by the Supreme Court of British Columbia and the approval of at least 66 2/3% of the votes cast by shareholders of FGH at the meeting. According to the arrangement agreement signed by the two companies, Flora anticipates acquiring all issued and outstanding common shares of FGH by way of a statutory plan of arrangement, including the issuance of between 36,515,060 and 43,525,951 of its common shares. “We are pleased that FGH shareholders clearly recognize the value of this transaction, as well as the enormous potential of our companies joining forces,” said Flora Growth chairman and CEO Luis Merchan in the press release. “This acquisition is tremendously accretive and will solidify Flora’s foothold, not only in what we view as the most relevant emerging cannabis market, Germany, but in the EU more broadly.”

To view the full press release, visit https://ibn.fm/d51m5

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands that delivers the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. For more information about the company, please visit www.FloraGrowth.ca.

NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://ibn.fm/FLGC

About TinyGems

TinyGems is your guide to the best and brightest in the under-appreciated small-cap sector. As one of 50+ brands within the InvestorBrandNetwork (“IBN”), TinyGems provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to reach millions of social media followers; and (5) a full array of corporate communications solutions. It’s time to uncover some of the best-kept secrets on Wall Street. TinyGems features innovative small-cap companies with huge potential, putting a spotlight on the best and brightest of these disruptors that have the technology, the talent, the drive, and the business models to make a huge impact in the markets and in portfolios. Whether it’s a game changing technology, a new more profitable product or service, or a star in a hot sector, TinyGems is the go-to source for actionable intelligence.

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For more information, please visit https://www.TinyGems.net

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TinyGems
Los Angeles, California
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