Flora Growth Corp. Expands Beverage Portfolio with THC-Infused Cola Targeting $220 Million Beverage Market
Fort Lauderdale, Florida--(Newsfile Corp. - October 28, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") is thrilled to announce the launch of its THC-infused Cola, marking the Company's next product offering in the rapidly expanding beverages market. This innovative product follows the introduction of Melo, Flora's first beverage, and continues the Company's strategic expansion into the thriving beverage sector.
Flora's Cola is crafted using the same emulsion technology that ensures a consistent and high-quality consumer experience. This proprietary technology enables the infusion of hemp into beverages, delivering a product that maintains the familiar taste of traditional cola while providing the unique benefits of hemp.
With consumers increasingly seeking functional beverage options, Flora's latest product is poised to capture a share of this market by offering a compelling alternative to traditional soft drinks.
"We are incredibly excited to introduce our hemp-infused Cola to the market, a product that exemplifies Flora's commitment to quality. Our team has worked diligently to develop a beverage that not only meets the high expectations of cola enthusiasts but also introduces hemp in a familiar and enjoyable format. With the launch of this product, we are not only expanding our presence in the beverage industry but also setting the stage for future growth in the beverage space," said Clifford Starke, Chief Executive Officer.
The launch of Cola will be supported by an extensive distribution network, leveraging traditional retail channels, U.S. distributors, and liquor stores. The target market for this Cola includes both the mainstream cola market and the emerging demand for hemp-based products.
Flora's initial objective with the launch of Cloud Cola is to secure a strong foothold in the U.S. Southeast, positioning the brand as a leader in the region while laying the groundwork for national expansion. By starting in this high-demand area, Flora aims to build brand recognition and loyalty, ultimately setting the stage for Cloud Cola to become a household name across the country.
Just as Flora has established itself with one of the best-selling gummies on the market, we are now channeling that same dedication and expertise into the THC-infused beverage category. Our success with gummies has proven that we have the formula, innovation, and vision to create products that resonate powerfully with consumers. With the launch of Cloud Cola, we are bringing that same commitment to quality, consistency, and consumer satisfaction to the rapidly growing THC-infused beverage market.
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About Flora Growth Corp.
Flora Growth Corp.'s mission is to become the leading NASDAQ small-cap international cannabis company. Flora is a cannabis-focused consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world. For more information on Flora, visit www.floragrowth.com.
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Investor Relations:
Investor Relations ir@floragrowth.com
Clifford Starke Clifford.Starke@floragrowth.com
Media:
Cautionary Statement Concerning Forward-Looking Statements
This press release contains "forward-looking statements," as defined by U.S. federal securities laws. Forward-looking statements reflect Flora's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words "believe," "expect," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," and the negatives of these words and other similar expressions generally identify forward-looking statements. These forward-looking statements include, but are not limited to, statements about: expanding Flora's presence in the beverage industry, Flora setting the stage for future growth in the beverage space, Cloud Cola poised to capture a share of this market by offering a compelling alternative to traditional soft drinks, the launch of Cloud Cola being supported by an extensive distribution network, leveraging traditional retail channels, U.S. distributors, and liquor stores, secure a strong foothold in the U.S. Southeast, positioning the brand as a leader in the region while laying the groundwork for national expansion, and build brand recognition and loyalty, ultimately setting the stage for Cloud Cola to become a household name across the country. Such forward-looking statements are subject to various and risks and uncertainties, including those described under section entitled "Risk Factors" in Flora's Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (the "SEC") on March 28, 2024, as such factors may be updated from time to time in Flora's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov/edgar. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Flora's filings with the SEC. While forward-looking statements reflect Flora's good faith beliefs, they are not guarantees of future performance. Flora disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based on information currently available to Flora (or to third parties making the forward-looking statements).
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