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InvestorNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Plans Acquisition to ‘Maximize Benefits of German Cannabis Legislation’

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, has entered a Letter of Intent (“LOI”) to acquire TruHC Pharma GmbH. According to the agreement, the acquisition is an all-stock deal in exchange for 2,770,562 Flora common shares; those shares are valued at $2.31 per share, totaling $6.4 million. The announcement noted that the first tranche of transaction should close in Q2 2024. In addition, the company pointed out that its wholly owned subsidiaries have been active in Germany since 2017; those subsidiaries obtained the first medical cannabis license in Germany and are responsible for selling the first gram of medical cannabis in the country. The acquisition of TruHC cements FLGC’s position as a leader in the German space. “The acquisition of TruHC is expected to provide Flora with the runway it needs to maximize the benefits of Germany’s cannabis legislation,” said Flora Growth CEO Clifford Starke in the press release. “We intend to touch on many verticals in the medical and recreational cannabis realms in Germany. We anticipate becoming a leader and at the forefront of the industry, which has the potential to spread to the rest of Europe. TruHC brings an EU-GMP facility and a management team that pioneered the cannabis industry in Germany to the Flora family. Together, we are excited to assume pack leadership in a sector poised for explosive growth.”

To view the full press release, visit

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

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

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