CannabisNewsBreaks – Flora Growth Corp. (NASDAQ: FLGC) Announces Acquisition of Masaya CB Brand
May 23, 2022
Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, has signed an agreement to acquire Masaya and its patent-pending CBD formulations, including Masaya Pure. The agreement was made with leading cell biologist Dr. Annabelle Manalo-Morgan, PhD, who created and owns the brand; Manalo-Morgan is a member of Flora Growth’s board of directors and is the company’s scientific advisor. According to the announcement, Masaya’s exclusive CBD oil formulations contain no THC and have garnered numerous testimonials. The brand will be the first offering from Flora Life Sciences in the United States, and the company anticipates distributing the brand globally. FLGC has already started the process of registering the proprietary formulation with INVIMA, Columbia’s regulatory agency. The company will also be including the Masaya Pure formulation in current clinical trials being conducted in collaboration with the University of Manchester in the United Kingdom. “We are excited to announce the acquisition of Masaya,” said Flora Growth CEO and chair Luis Merchan in the press release. “The brand’s formulation was developed by Dr. Annabelle for her son and has since been used by thousands of consumers. Amplifying Dr. Annabelle and her son’s beautiful story and improving the well-being of people around the world is our aim. This acquisition allows us to deliver on our promise to invest in safe, thorough, cutting-edge scientific research that can bring meaningful change via an efficacious and accessible product offering for people worldwide.”
To view the full press release, visit https://cnw.fm/IYhQ7
About Flora Growth Corp.
Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands designed to deliver the most compelling customer experiences in the world, one community at a time. As the operator of one of the largest outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to commercial, house of brands, and life sciences divisions. For more information about the company, please visit www.FloraGrowth.ca.
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC
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