Flora Growth Closes $34.5 Million Public Offering

MIAMI & TORONTO — Flora Growth Corp. (NASDAQ:FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, today announced the closing of its underwritten public offering of 11,500,000 units (the “Units”), with each Unit consisting of one Common Share of the Company and one-half warrant (“Unit Warrant”); each whole Unit Warrant entitling the holder thereof to purchase one Common Share. The Units sold includes an additional 1,500,000 Units sold pursuant to the exercise in full of the overallotment option granted to the underwriters. The Units were sold at a public offering price of $3.00 per Unit, resulting in gross proceeds to the Company of $34,500,000 before deducting underwriting commissions and estimated expenses payable by the Company. The Unit Warrants will have an exercise price of $3.75 per share, will be immediately exercisable and will expire five years from the date of issuance. Read More