SEC Contract Filing

Filing Date: 2024-12-16

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>exhibit10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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 <title>Flora Growth Corp.: Exhibit 10.1 - Filed by newsfilecorp.com</title>
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 <p style="text-align: center;"><b>SECURITIES PURCHASE AGREEMENT</b></p>
 <p style="text-indent: 36pt; text-align: justify;">This Securities Purchase Agreement (this "<u><b>Agreement</b></u>") is dated as of December 13, 2024, between Flora Growth Corp., a Canada corporation (the "<u><b>Company</b></u>"), and each purchaser identified on the signature pages hereto (including their respective successors and assigns, each a "<u><b>Purchaser</b></u>" and collectively, the "<u><b>Purchasers</b></u>").</p>
 <p style="text-indent: 36pt; text-align: justify;"><b>WHEREAS</b>, subject to the terms and conditions set forth in this Agreement and pursuant to an effective shelf registration statement under the Securities Act of 1933, as amended (the "<u><b>Securities Act</b></u>"), the Company desires to issue and sell to each Purchaser, and each Purchaser, severally and not jointly, desires to purchase from the Company, securities of the Company as more fully described in this Agreement.</p>
 <p style="text-indent: 36pt; text-align: justify;"><b>NOW, THEREFORE, IN CONSIDERATION</b> of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows:</p>
 <p style="margin-left: 36pt; text-indent: -36pt; text-align: justify;">1.<font style="width: 28.5pt; text-indent: 0pt; display: inline-block;">&#160;</font><u><b>Definitions</b></u>. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the following terms have the meanings set forth in this Section 1:</p>
 <p style="margin-left: 36pt; text-align: justify;">1.1.<font style="width: 22pt; display: inline-block;">&#160;</font>"<u><b>Acquiring Person</b></u>" shall have the meaning ascribed to such term in Section 4.4.</p>
 <p style="margin-left: 36pt; text-align: justify;">1.2.<font style="width: 22pt; display: inline-block;">&#160;</font>"<u><b>Action</b></u>" shall have the meaning ascribed to such term in Section 3.1.10.</p>
 <p style="margin-left: 36pt; text-align: justify;">1.3.<font style="width: 22pt; display: inline-block;">&#160;</font>"<u><b>Affiliate</b></u>" means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.</p>
 <p style="margin-left: 36pt; text-align: justify;">1.4.<font style="width: 22pt; display: inline-block;">&#160;</font>"<u><b>Agreement</b></u>" shall have the meaning ascribed to such term in the preamble.</p>
 <p style="margin-left: 36pt; text-align: justify;">1.5.<font style="width: 22pt; display: inline-block;">&#160;</font>"<u><b>BHCA</b></u>" shall have the meaning ascribed to such term in Section 3.1.40.</p>
 <p style="margin-left: 36pt; text-align: justify;">1.6.<font style="width: 22pt; display: inline-block;">&#160;</font>"<u><b>Board of Directors</b></u>" means the board of directors of the Company.</p>
 <p style="margin-left: 72pt; text-align: justify;">1.7.<font style="width: 22pt; display: inline-block;">&#160;</font>"<u><b>Business Day</b></u>" means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized or required by law to remain closed; provided, however, for clarification, commercial banks shall not be deemed to be authorized or required by law to remain closed due to "stay at home", "shelter-in-place", "non-essential employee" or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York are generally open for use by customers on such day.</p>
 <p style="margin-left: 36pt; text-align: justify;">1.8.<font style="width: 22pt; display: inline-block;">&#160;</font>"<u><b>Closing</b></u>" means the closing of the purchase and sale of the Securities pursuant to Section 2.1.</p>
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 <p style="margin-left: 36pt; text-align: justify;">1.9.<font style="width: 22pt; display: inline-block;">&#160;</font>"<u><b>Closing Date</b></u>" means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable parties thereto, and all conditions precedent to (i) the Purchasers' obligations to pay the Subscription Amount and (ii) the Company's obligations to deliver the Securities, in each case, have been satisfied or waived, but in no event later than the second (2nd) Trading Day following the date hereof.</p>
 <p style="margin-left: 36pt; text-align: justify;">1.10.<font style="width: 12pt; display: inline-block;">&#160;</font>"<u><b>Code</b></u>" means the Internal Revenue Code of 1986, as amended.</p>
 <p style="margin-left: 36pt; text-align: justify;">1.11.<font style="width: 12pt; display: inline-block;">&#160;</font>"<u><b>Commission</b></u>" means the United States Securities and Exchange Commission.</p>
 <p style="margin-left: 36pt; text-align: justify;">1.12.<font style="width: 12pt; display: inline-block;">&#160;</font>"<u><b>Common Share</b></u>" means the common shares of the Company, without par value per share, and any other class of securities into which such securities may hereafter be reclassified or changed.</p>
 <p style="margin-left: 36pt; text-align: justify;">1.13.<font style="width: 12pt; d