Flora Growth Corp. to Effect Reverse Stock Split
07 Giugno 2023 - 10:05PM
Business Wire
Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a
global cultivator, manufacturer, and distributor of cannabis
products and brands, announces that it will effect a reverse stock
split, which shall become effective on June 9, 2023 at a ratio of
1-for-20 (the “Reverse Stock Split”).
The Company has provided The Nasdaq Stock Market with the
appropriate notice and the Company expects that its common shares
will commence trading on a post-Reverse Stock Split basis at market
open on June 9, 2023. The common shares will continue to trade on
the Nasdaq Capital Market under the existing ticker “FLGC”. The new
CUSIP number for the common shares is 339764201 and the new ISIN is
CA3397642016.
The Reverse Stock Split, within a ratio ranging between 1-for-5
and 1-for-25, was approved by the Company’s shareholders at the
Company’s annual and special meeting of shareholders held on June
6, 2023 and is described in the proxy statement of the Company
dated May 10, 2023.
As a result of the Reverse Stock Split, every 20 common shares
issued and outstanding will be automatically reclassified into one
new common share. The Reverse Stock Split does not affect any
shareholder’s ownership percentage of the common shares or modify
any voting rights or other terms of the common shares. No
fractional common shares will be issued as a result of the Reverse
Stock Split. Any fractional interest as a result of the Reverse
Stock Split will be rounded down and shareholders will not receive
any compensation in lieu thereof.
About Flora Growth Corp.
Flora Growth Corp. is a global cannabis company dedicated to
bringing the benefits of cannabis to people worldwide. Our
commitment is to create, master and connect the international
cannabis supply chain by setting the standard for world-class
cultivation and manufacturing, thoughtful brand development, and
rigorous research and development of medical-grade cannabis
products that meet the highest standards of quality, safety, and
efficacy. Our mission is to create a world where the benefits of
cannabis are accessible to everyone, and we are working toward that
goal by becoming a leading importer and exporter of cannabis to
meet demand in every corner of the market. Visit
www.floragrowth.com or follow @floragrowthcorp on social media for
more information.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains “forward-looking statements” as
defined by applicable Canadian and U.S. securities legislation.
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 10-K, previously filed with the U.S.
Securities and Exchange Commission (the “SEC”) on March 31, 2023,
as amended April 28, 2023, 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, and on Flora’s
issuer profile on SEDAR at www.sedar.com. 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 and the applicable Canadian securities commissions. 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).
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version on businesswire.com: https://www.businesswire.com/news/home/20230607005753/en/
Investor Relations: Investor Relations
ir@floragrowth.com
Public Relations: Cassandra Dowell +1 (858) 221-8001
flora@cmwmedia.com
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