# EDGAR Filing Document

**Accession Number:** 0001790169
**File Stem:** 0001477932-23-000597
**Filing Date:** 2023-1
**Character Count:** 11552
**Document Hash:** 8f8bf19fba061373ec743d3bca0503ea
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001477932-23-000597.hdr.sgml**: 20230130

**ACCESSION NUMBER**: 0001477932-23-000597

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20230130

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230130

**DATE AS OF CHANGE**: 20230130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Flora Growth Corp.
- **CENTRAL INDEX KEY:** 0001790169
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40397
- **FILM NUMBER:** 23565319

**BUSINESS ADDRESS:**
- **STREET 1:** 3406 SW 26TH TERRACE, SUITE C-1
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33312
- **BUSINESS PHONE:** 416-861-2267

**MAIL ADDRESS:**
- **STREET 1:** 3406 SW 26TH TERRACE, SUITE C-1
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33312

?xml version="1.0" encoding="utf-8"?flora_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): **January 30, 2023**

---

| |
|:---|
| **Flora Growth Corp.** |
| (Exact Name of Registrant as Specified in Its Charter) |

---

---

| | | |
|:---|:---|:---|
| **Province of Ontario** | **001-40397** | **Not Applicable** |
| (State or other jurisdiction<br>of incorporation)  | (Commission<br>File Number)  | (I.R.S. Employer<br>Identification)  |

---

**3406 SW 26th Terrace, Suite C-1**

**<u>Fort Lauderdale, Florida 33132</u>**

(Address of principal executive offices) (Zip Code)

**<u>(954) 842-4989</u>**

(Registrant's Telephone Number, Including Area Code)

_________________________________________________

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading** <br>**Symbol(s)** | **Name of each exchange** <br>**on which registered** |
| Common Shares, no par value | FLGC | Nasdaq Capital Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 7.01 Regulation FD Disclosure.**

On January 30, 2023, Flora Growth Corp., a corporation organized under the laws of the Province of Ontario ("<u>Flora</u>" or the <u>Company</u>") issued a press release disclosing 2023 revenue guidance and certain 2022 operational highlights. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and incorporated by reference in this Item 7.01.

The information contained in this Item 7.01, including Exhibit 99.1, is furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>"), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference into any registration statement or other filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as shall be expressly incorporated by specific reference in such filing.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits

---

| | |
|:---|:---|
| [99.1](flora_ex991.htm) | [Press Release dated January 30, 2023](flora_ex991.htm) |
| 104 | Cover Page Interactive Data File  |

---

2<br>

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **FLORA GROWTH CORP.** | **FLORA GROWTH CORP.** |
| Date: January 30, 2023 | By: | */s/ Luis Merchan* |
|  | Name: | Luis Merchan  |
|  | Title: | Chief Executive Officer |

---

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## Exhibit 99.1

**EXHIBIT 99.1**

![](flora_ex991img1.jpg)

**Flora Growth Issues 2023 Revenue Guidance of $90 Million to $105 Million Reflecting Anticipated Year Over Year Growth Exceeding 100%**

- *Flora will host a webcast discussing 2023 guidance and recapping 2022 milestones at 4:30 pm ET on January 30, 2023. Register and join <u>here</u>.*

**FORT LAUDERDALE, FLORIDA,** – January 30, 2023 -- Flora Growth Corp. (NASDAQ: <u>FLGC</u>) ("Flora'' or the "Company"), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, announced today revenue guidance of US$90 million to US$105 million for fiscal year 2023. Flora is also offering its shareholders and the general public a 2022 year-end recap of the global cultivator's growth and expansion highlights.

Flora's 2023 revenue guidance of $90 million to $105 million reflects expected organic growth in the House of Brands division and expansion of the Commercial & Wholesale division capabilities. This forecasted growth also incorporates Flora's new German-based business as established through the acquisition of Franchise Global Health. Flora's German operations solidify a crucial foothold in a growing international cannabis market, providing a unique opportunity for operational synergies and diversified growth. Revenue growth is also expected to reflect the continued successful execution of product development and pricing strategies.

It is expected that the House of Brands and Commercial & Wholesale divisions will have roughly equal contributions to the top line, while the Pharmaceutical division is expected to contribute up to 10% of total revenue.

"We are pleased to announce that we will meet our guidance for 2022 and are issuing revenue guidance of $90 million - $105 million for the year 2023," said Luis Merchan, Chairman and CEO of Flora. "Our 2023 forecasted revenue range represents anticipated growth in excess of 100% over last year and highlights our continued momentum, despite a challenging macroeconomic backdrop that has disproportionately impacted the cannabis industry."

**Operating Highlights for 2022 Included:** 

· Acquired Franchise Global Health (FGH), an international cannabis company with primary operations in Germany.

· Raised gross proceeds of $5 million through a registered direct offering, further bolstering Flora's liquidity position.

· Initiated commercial cannabis exports to new international markets including the United States, Switzerland and the Czech Republic.

· Completed acquisition of category-leading wellness brand JustCBD; expanding U.S. infrastructure and CPG portfolio.

· Completed construction of Bogota, Colombia-based Flora Lab 4, a laboratory specializing in prescription cannabis formulations.

· Flora appointed former Amazon executive Tim Leslie and former JP Morgan executive Brandon Konigsberg to its Board of Directors, named CEO Luis Merchan as Chairman of the Board of Directors, appointed former Amazon executive Elshad Garayev as Chief Financial Officer, and hired cannabis regulatory veteran Holly Bell as Vice President of Regulatory Affairs.

· As a result of the FGH acquisition, Flora appointed former FGH CEO Clifford Starke as President of Flora and Member of the Board of Directors and former FGH Chief Operating Officer Edward Woo as a member of the Board of Directors.

· Flora established JustCBD's on-the-ground presence in the United Kingdom and distribution operations in the EU, opening offices in London.

· Flora acquired CBD brands Masaya and No Cap Hemp Co., enhancing new product offerings and revenue streams.

· Flora was awarded Best M&A Deal at the Benzinga Cannabis Capital Conference for the acquisition of JustCBD.

![](flora_ex991img1.jpg)

**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 its commercial, house of brands, and life sciences divisions. Visit <u>www.floragrowth.com</u> or follow @floragrowthcorp on social media for more information.

**Contacts**

**Investor Relations:**

Sean Mansouri, CFA

ir@floragrowth.com

**Public Relations:**

Cassandra Dowell

+1 (858) 221-8001

flora@cmwmedia.com

***Cautionary Statement Concerning Forward-Looking Statements***

This press release contains ''forward-looking statements,'' as defined by 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 risks and uncertainties, including those described under the section entitled "Risk Factors" in Flora's Annual Report on Form 20-F filed with the SEC on May 9, 2022, 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. 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 only on information currently available to Flora (or to third parties making the forward-looking statements).

2<br>