FLGC - Flora Growth to acquire Franchise Global Health in all-stock deal

• Flora Growth ( NASDAQ: FLGC ) said Monday it will acquire Franchise Global Health ( FGH:CA ), a medical cannabis firm primarily operating in Germany, in an all-stock deal.
• Flora ( FLGC ) will issue between 36.6M and 43.5M of its shares to Franchise Global ( FGH:CA ) shareholders.
• The shares will be restricted from being sold for 90 days after the deal closes.
• The deal is expected to accelerate Flora's ( FLGC ) expansion into cannabis and pharmaceutical markets in Europe - primarily Germany - as well as its CBD business by using Franchise Global's ( FGH:CA ) distribution and logistics capabilities.
• The acquisition is expected to deliver at least $3M of annualized cost synergies within the first year after the deal closes, primarily in reduced corporate administrative costs.
• Franchise Global ( FGH:CA ) CEO Clifford Starke will have the right to name two candidates for Flora's ( FLGC ) board and he is expected to be one of the candidates.

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