Flora Growth Corp. is Encouraged by the Harris Campaign's Hallmark Proposal for Recreational U.S. Federal Cannabis Legalization
Fort Lauderdale, Florida--(Newsfile Corp. - October 15, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") is optimistic following Vice President and Democratic presidential candidate Kamala Harris' campaign proposal to legalize recreational marijuana at the federal level.
Vice President Harris outlined her commitment to "break down unjust legal barriers" through the national legalization of marijuana, with a focus on cultivating safe, regulated cannabis markets and promoting economic equity. Under this agenda, the Vice President aims to work with Congress to make the cultivation, distribution, and possession of recreational cannabis legal across the United States. Currently, recreational marijuana use is legal in 24 states and the District of Columbia, while cannabis remains illegal at the federal level.
Former President Donald Trump has also recently voiced support for cannabis legalization, pledging to vote in favor of a Florida measure legalizing recreational marijuana that will appear on the state's ballot this fall. Trump's backing of state-level cannabis legalization demonstrates a growing recognition of the economic and social benefits that regulated cannabis markets can bring.
"We are excited to be part of history amid the growing bi-partisan momentum toward federal cannabis legalization in the United States," said Clifford Starke, Chairman and Chief Executive Officer. "At Flora, we believe that federal legalization would not only provide clarity for businesses like ours but also open doors for communities that have been disproportionately impacted by outdated cannabis laws. Legalization is about much more than commerce—it's about righting historical wrongs and fostering a more just economic environment for all."
The Company sees this proposal as a significant move toward harmonizing cannabis regulation across the country. Flora, which operates across several regulated markets globally, including the U.S., stands ready to support the development of a federal framework that ensures safe, sustainable, and equitable growth within the industry.
Mr. Starke added, "As we continue to expand our presence in the U.S. and international markets, a clear and equitable federal cannabis policy is vital. Flora Growth is committed to supporting these efforts and driving meaningful change where we can."
Flora looks forward to continued dialogue with policymakers, stakeholders, and industry peers as the national conversation on cannabis legalization advances with bi-partisan support. The company remains committed to creating economic opportunities and contributing to a fair and inclusive cannabis marketplace.
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
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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. 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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