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 responding to the reported historic move by the U.S. Drug Enforcement Administration (“DEA”) to reclassify cannabis from its list of Schedule I drugs to Schedule III. According to the announcement, Flora Growth applauds the move, which is reportedly coming after the federal Health and Human Services Department (“HHS”) made a recommendation for reclassification. If the reclassification proposal is formalized, it would still need to be reviewed by the White House Office of Budget and Management, and the DEA would still need to take public comments before making a final decision. “This expected rescheduling would come shortly after Germany’s legalization of recreational cannabis becoming effective earlier in April,” said Flora Growth CEO Clifford Starke in the press release. “Our business is close to being evenly split between the U.S. and Germany — two of the world’s largest and most robust markets. . . . We commend the DEA for mirroring the recommendation of the HHS to reschedule cannabis to Schedule III. We at Flora believe that the benefits of cannabis should be accessible to everyone. Momentum is shifting in the right direction.”

To view the full press release, visit https://cnw.fm/uUaKO

About Flora Growth Corp.

Flora Growth is a 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://cnw.fm/FLGC

About HempWire

HempWire (“HW”) is a specialized communications platform with a focus on hemp-related news, information, and the latest developments in the hemp sector. HempWire is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, HW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, HW brings its clients unparalleled recognition and brand awareness. HW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from HempWire, text “HempWire” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.HempWire.com

Please see full terms of use and disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.HempWire.com/Disclaimer

HempWire
Denver, Colorado
www.HempWire.com
303.498.7722 Office
Editor@HempWire.com

HempWire is powered by IBN