Flora Engages Boustead Securities as Exclusive Financial Advisor & Provides Financing Update
TORONTO, Oct. 22, 2020 (GLOBE NEWSWIRE) — Flora Growth Corp. (“Flora” or the “Company”) is pleased to announce that it has engaged Boustead Securities, LLC (“Boustead”) as its exclusive financial advisor. Further, the Company is pleased to announce it has surpassed US$28 million in funding and commitments processing in its ongoing Regulation A+ offering.
“As we look to close our Regulation A+ offering in the coming weeks, we are at an exciting and important point in the Company’s growth trajectory,” commented Flora Growth’s CEO, Damian Lopez. “We believe Boustead’s experienced capital markets team will be able to advise us on the best path forward to grow Flora and maximize shareholder value. Given the success of our Regulation A+ offering, we believe the months ahead will be very positive for the Company.”About Flora Growth’s Regulation A+ OfferingFlora Growth’s Regulation A+ offering has been open for 9 months out of a maximum of 24 months. During that period, Flora garnered investments of over US$28 million inclusive of both closed investments and commitments being processed and continues to work towards the potential maximum raise of US$30 million.While Flora continues to see strong investment inflow, Flora expects to close the offering in the coming weeks as sufficient capital has been secured to execute on its immediate business plans. At this time, Flora anticipates using any additional capital to accelerate its growth and generate returns for all investors.The use of funds from Flora’s Regulation A+ offering includes capital expenditures at the Cosechemos and Breeze Laboratory divisions, sales and marketing for Flora’s new brand portfolio, and general corporate and working capital provisions.About Boustead Securities, LLCBoustead Securities, LLC is an investment banking firm that executes and advises on IPOs, mergers and acquisitions, capital raises and restructuring assignments in a wide array of industries, geographies and transactions, for a broad client base. Boustead’s core value proposition is the ability to create opportunity through innovative solutions and tenacious execution.With experienced professionals in the United States, Boustead’s team moves quickly and provides a broad spectrum of sophisticated financial advice and services. Boustead is a majority-owned subsidiary of Boustead & Company Limited, a diversified non-bank financial institution.Flora Growth Corp.Flora is a vertically integrated cannabis company striving to be a globally recognized cannabis brand by leveraging low-cost production of cannabis to supply CBD oil to our portfolio of consumer and medical brands. Flora prioritizes organic ingredients and value-chain sustainability across its portfolio to create products that help consumers restore and thrive.For further information, contact:
+1 416 571 9037
Website: www.floragrowth.caImportant Notice Regarding Regulation A+ OfferingAn offering statement regarding the offering described above has been filed with the SEC. The SEC has qualified that offering statement, which means that Flora Growth Corp. may make sales of the securities described by that offering statement. It does not mean that the SEC has approved, passed upon the merits or passed upon the accuracy or completeness of the information in the offering statement. You may obtain a copy of the offering circular that is part of that offering statement and all supplements thereto through this link: Offering Circular.Investing in an offering like our Regulation A+ offering is subject to unique risks, tolerance for volatility, and potential loss of your investment, that investors should be aware of prior to making an investment decision. Please carefully review the risk factors contained in the offering circular for this offering. For more information about Regulation A+ offerings, including the unique risks associated with these types of offerings, please click on the SEC’s Investor Alert.Neither this document nor any of its content constitutes an offer to sell, solicitation of an offer to buy or a recommendation for any security by Flora Growth Corp. or any third party. The content of this document is provided for general information purposes only and is not intended to solicit the purchase of securities or to be used as investment, legal or tax advice. A securities offering by Flora Growth Corp. is only being made pursuant to the offering circular described above. The content of this document is qualified in its entirety by such offering circular. Prospective investors are urged to consult with their own, investment, legal and tax advisors prior to making any investment in Flora Growth Corp.