Flora Growth Corp. Commends U.S. Vice President Kamala Harris for Prioritizing Cannabis Reform, Applauds Growing Bi-Partisan Support for U.S. Recreational Market Valued at $33 Billion
Fort Lauderdale, Florida--(Newsfile Corp. - October 29, 2024) - Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) ("Flora" or the "Company") commends U.S. Vice President Kamala Harris for including cannabis reform among her top 14 national priorities as she approaches the 2024 election. This significant move by Harris, together with Republican nominee Donald Trump's support of marijuana legalization initiatives in Florida and advocacy for cannabis banking reform, underscores a bi-partisan commitment to cannabis reform as a crucial national priority.
Flora welcomes this notable shift as a critical moment for the cannabis industry, which has long sought comprehensive reform to align the U.S. cannabis regulatory landscape with the economic and societal benefits of legalization. Today, with cannabis reform elevated to a core priority, the U.S. is closer than ever to meaningful regulatory transformation, with potential impacts on areas such as public health, social equity, criminal justice reform, and economic growth.
The cannabis sector has gained momentum as a driver of innovation, job creation, and tax revenue. With Vice President Harris underscoring cannabis as a central component of their forward-looking agenda, Flora is optimistic about the cascading benefits these reforms could bring not only to U.S. markets but to the global cannabis industry.
"We are thrilled to see such prominent leaders from both parties recognize the economic, health, and social impact cannabis reform can have on the American people," said Clifford Starke, Chief Executive Officer. "Vice President Harris' acknowledgment of cannabis reform as a top priority signals an awakening to the vast potential of this industry. With bipartisan support strengthening across the U.S., we are confident that these changes could foster a more inclusive and economically resilient environment for businesses, entrepreneurs, and consumers alike."
Beyond Vice President Harris's commitments, Republican nominee Donald Trump has shown support for the cannabis sector by backing a Florida marijuana legalization initiative and advocating for federal cannabis banking reform. Trump's positions suggest a growing awareness within the Republican Party of the advantages cannabis reform can bring. Trump has also signaled openness to rescheduling cannabis at the federal level, potentially transforming the regulatory framework that has restricted access to traditional banking and financial resources for cannabis businesses.
"At Flora, we believe this surge of bipartisan support marks a turning point in the way the U.S. approaches cannabis," continued Starke. "Our vision has always been to harness the power of the plant to create positive social, economic, and health outcomes."
About Flora Growth Corp.
Flora Growth Corp.'s mission is to become the leading NASDAQ small-cap international cannabis company. Flora is a cannabis-focused consumer-packaged goods leader and pharmaceutical distributor serving all 50 states and 28 countries with 20,000+ points of distribution around the world. For more information on Flora, visit www.floragrowth.com.
This press release contains "forward-looking statements," as defined by U.S. 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 and risks and uncertainties, including those described under section entitled "Risk Factors" in Flora's Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (the "SEC") on March 28, 2024, 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/edgar. 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 on information currently available to Flora (or to third parties making the forward-looking statements).
