Flora Growth Corp. Completes Acquisition of Franchise Global Health

December 23, 2022

Flora Growth Corp. (NASDAQ:FLGC) and Franchise Global Health Inc. (TSXV:FGH) have successfully completed their arrangement agreement pursuant to which Flora acquired all of the outstanding shares of FGH in exchange for common shares of Flora, at a transaction value of approximately C$40 million based on the exchange ratio and Flora VWAP at the time of signing.

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. Franchise is a multi-national operator in the medical cannabis and pharmaceutical industries, with principal operations in Germany and with operations, assets, strategic partnerships and investments internationally.

Wildeboer Dellelce acted for Flora Growth Corp. as legal counsel in connection with the arrangement with a team comprised of Michael Rennie, Carlye Bellavia, Natalie Tershakowec, Katie Drury and Marcus Moore (Corporate Finance and Securities / Mergers and Acquisitions) and Katy Pitch and Marija Tasevska (Tax).