Flora Growth Announces Warrant Extensions

Flora Growth Announces Warrant Extensions
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By Daniel Webster, dWeb.News

TORONTO—-(BUSINESS WIRE) –Flora Growth Corp. (NASDAQ : FLGC) (“Flora”, “Flora Growth”, or the “Company”) is pleased to announce that it has extended by three months the expiry dates of approximately 6.67 Million (on a Post-Consolidation basis). These are all the unexercised Warrants that the Company issued (on a Post-Consolidation basis) pursuant its Regulation A+ Tier2 offering of units that closed in December 2020.

The Warrants can be converted into common shares of Flora for US$3.00 each. Previously, the expiry dates of the Warrants were 18 months after their respective issue dates. The Company has extended by three months the expiry dates for the Warrants so that they expire 21 months after their respective issue dates. The new expiry dates for Warrants range from October 25, 2021, to October 20, 2022. All other terms and conditions, including the exercise cost, remain unchanged.

About Flora Growth Corp.

Flora is a cannabis company which uses natural, cost-effective cultivation methods to supply cannabis derivatives to its various business divisions, including cosmetics, hemp textiles and food and drink. Flora is the owner of one of the most extensive outdoor cultivation facilities in the world and strives to offer premium products at lower prices. Flora creates premium products that help people thrive and restore their lives by prioritizing natural ingredients, value-chain sustainability and value-chain sustainability throughout its portfolio. For more information, visit http://www.floragrowth.ca and follow @floragrowthcorp.

Cautionary Statement Regarding Forward-Looking Statements

Forward-looking statements are contained in this document. We or our representatives may, from time-to-time, make forward looking statements verbally or in writing. These forward-looking statements are based on our expectations and projections regarding future events. We use the information we have at hand to make these statements. These forward-looking statements refer to future events and our performance, including our financial performance and projections, our growth in revenue or earnings, and our business prospects. Forward-looking statements can be identified by statements that are not historical, especially those that use terminology like “may”, “should,” and “anticipates,” as well as “contemplates,” and “estimates,” and “believes,” plans,” projects,” predictions,” potential,” or “hopes” (or the negative thereof or similar terms). These forward-looking statements should be evaluated against a variety of factors, including our ability to change the Company’s direction, our ability to keep up with changing technology and market needs, and our competitive environment. These and other factors could cause our actual results not to be as anticipated. Forward-looking statements can only be considered predictions. Forward-looking statements, including those made by us or our representatives from time to time, may not be realized. Actual events and results could differ materially. They are also subject to risks, uncertainties, and assumptions about us. We are not required to publicly update or revise any forward looking statement due to uncertainties and assumptions.

More dWeb.News Business News at https://dweb.news/category/dweb-news/section-b-business-news/

This article was authored by Daniel Webster using Artificial Intelligence. To learn more visit https://wordai.com/?ref=0b4438
The original article can be found at Read More

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