Flora Growth Enters Into Definitive Agreement To Acquire TruHC In Exchange For 2,770,562 Flora Common Shares Valued At $6.4M
Portfolio Pulse from Benzinga Newsdesk
Flora Growth (FLGC) has announced a definitive agreement to acquire TruHC for 2,770,562 of its common shares, valued at $6.4M. This acquisition leverages TruHC's German cannabis platform, enhancing Flora's global distribution network with TruHC's expertise in the cannabis sector. The deal is strategic ahead of Germany's expected growth to become the world's largest federally legal cannabis market, potentially surpassing $10 billion in market potential.
April 16, 2024 | 1:24 pm
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Flora Growth's acquisition of TruHC for $6.4M in stock strengthens its position in the global cannabis market, particularly in Germany, which is expected to see significant growth.
The acquisition of TruHC by Flora Growth is a significant strategic move, leveraging TruHC's German cannabis platform and licenses. This positions FLGC well in anticipation of Germany's market growth, potentially boosting FLGC's stock in the short term due to the expanded market access and expertise in the burgeoning German cannabis market.
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