FLGC - InvestorNewsBreaks - Flora Growth Corp. (NASDAQ: FLGC) Reports Majority of Franchise Global Health (TSX.V: FGH) Shareholders Approve Acquisition
Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, is one step closer to completing its previously announced acquisition of Franchise Global Health (TSX.V: FGH). FLGC announced that holders of more than 73% of the outstanding shares of FGH have agreed to vote their shares in favor of Flora’s acquisition of FGH; the voting will take place during FGH’s special meeting of shareholders, scheduled for Dec. 13, 2022. The completion of the acquisition remains subject to customary closing conditions, including approval of the plan of arrangement by the Supreme Court of British Columbia and the approval of at least 66 2/3% of the votes cast by shareholders of FGH at the meeting. According to the arrangement agreement signed by the two companies, Flora anticipates acquiring all issued and outstanding common shares of FGH by way of a statutory plan of arrangement, including the issuance of between 36,515,060 and 43,525,951 of its common shares. “We are pleased that FGH shareholders clearly recognize the value of this transaction, as well as the enormous potential of our companies joining forces,” said Flora Growth chairman and CEO Luis Merchan in the press release. “This acquisition is tremendously accretive and will solidify Flora’s foothold, not only in what we view as the most relevant emerging cannabis market, Germany, but in the EU more broadly.”
To view the full press release, visit https://ibn.fm/4zGD8
About Flora Growth Corp.
Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands that delivers 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 its diverse business divisions of cosmetics, hemp textiles, and food and beverage. 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://ibn.fm/FLGC
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@NetworkNewsWire.com
InvestorWire is part of the InvestorBrandNetwork.