FLGC - InvestorNewsBreaks - Flora Growth Corp. (NASDAQ: FLGC) Responds to Reported Plans for DEA to Reschedule Cannabis
Flora Growth (NASDAQ: FLGC), a cannabis-focused consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000-plus points of distribution around the world, is responding to the reported historic move by the U.S. Drug Enforcement Administration ("DEA") to reclassify cannabis from its list of Schedule I drugs to Schedule III. According to the announcement, Flora Growth applauds the move, which is reportedly coming after the federal Health and Human Services Department ("HHS") made a recommendation for reclassification. If the reclassification proposal is formalized, it would still need to be reviewed by the White House Office of Budget and Management, and the DEA would still need to take public comments before making a final decision. “This expected rescheduling would come shortly after Germany's legalization of recreational cannabis becoming effective earlier in April,” said Flora Growth CEO Clifford Starke in the press release. “Our business is close to being evenly split between the U.S. and Germany — two of the world's largest and most robust markets. . . . We commend the DEA for mirroring the recommendation of the HHS to reschedule cannabis to Schedule III. We at Flora believe that the benefits of cannabis should be accessible to everyone. Momentum is shifting in the right direction.”
To view the full press release, visit https://ibn.fm/LWAJy
About Flora Growth Corp.
Flora Growth is a consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000-plus points of distribution around the world. For more information about the company, please visit www.FloraGrowth.com.
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://ibn.fm/FLGC
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