Flora Growth Corp. (NASDAQ:FLGC) has completed its first import of CBD-containing food and beverage products into the United States from Colombia under its Mambe brand. This follows Colombian President Ivan Duque's signing of Resolution 227 last week, which provided the necessary framework for the use, distribution and export of cannabis, dried flower and other non-psychoactive derivatives.
Over the coming weeks and months, Flora expects to expand the distribution of its CBD-containing food and beverage products, including juices, chocolates and ghee, among others. Flora will also continue to expand the distribution of non-psychoactive flower and derivatives from its Cosechemos cultivation and extraction facility.
“We are thrilled to be the first Colombian cannabis operator to capitalize on the law change President Duque signed into effect,” commented Flora Growth CEO, Luis Merchan. “We are grateful for the Colombian government’s forward-thinking approach to cannabis regulation and are excited to bring Colombian-made cannabis food and beverage products to the U.S. market. Our team anticipated this regulatory update and has been laying the necessary foundation to expand this new supply chain pathway allowing Flora to quickly bring our diverse product portfolio and low-cost cannabis inputs to new high-growth international markets.”
As reported earlier this week, Flora expects to capitalize on multiple synergies relating to its JustCBD acquisition. This includes the global expansion of the JustCBD brand into Colombia and the inclusion of Flora’s existing product portfolio across JustCBD’s extensive U.S. distribution network and 300,000 loyal customers. Flora will also explore integrating its supply chain by utilizing the CBD oils and isolates from its Cosechemos cultivation in JustCBD products to leverage its owned, cost-advantaged cultivation to drive lower cost of goods.
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