## Flora Growth Corp. (FLGC) Makes Waves in THC Beverages and European Cannabis Markets
Flora Growth Corp. (FLGC) is making headlines with two major announcements: the launch of its first THC-infused beverage, Melo, and substantial progress on its strategic investment in Hoshi International Inc. in Portugal. These moves solidify Flora’s position as a major player in the rapidly evolving cannabis industry.
Melo: A New Era in Beverages
Melo, a collaboration between Flora Growth and Peak, a leading cannabis-based product provider, marks Flora’s entry into the booming beverage market. The joint venture combines Flora’s robust marketing and distribution network with Peak’s cutting-edge emulsion technology. Melo is available in four enticing flavors: grapefruit, half & half lemonade iced tea, strawberry mango, and wild berries.
Clifford Starke, CEO of Flora, expressed the company’s vision for Melo, stating, “It’s not just about entering a new market; it’s about redefining what consumers expect from their drinks. We are combining the best of what nature offers with cutting-edge science to deliver a product that enhances everyday life.” He believes that Melo will disrupt the traditional beverage industry, offering consumers an experience that goes beyond mere refreshment.
Hoshi Investment Shows Strong Potential
Flora’s investment in Hoshi International Inc. in Portugal continues to yield positive results. Since Hoshi secured a new financial partner in 2023, its operations have accelerated significantly. Flora’s initial investment of 2 million euros ($2.42 million) in 2021 aimed to secure a strategic supplier role for Hoshi’s EU processing facilities and establish a pathway for importing high-quality Colombian cannabis to Europe.
Hoshi’s recent milestones include:
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Facility Construction:
Completion of the first phase of construction at the facility, featuring a 1,200-square meter greenhouse with a production capacity of up to 1,500 kilograms per year.*
Licensing Inspection:
Successful licensing inspection by the Portuguese regulator, resulting in the receipt of a Good Agricultural and Collecting Practice (GACP) production and processing license.*
Cannabis Clones:
Receipt of the first 70 cannabis clones as part of the pre-licensing process.The project in Portugal currently employs 18 full-time staff members and has seen a total investment of approximately $20 million.
Starke highlighted the importance of Hoshi’s progress, stating, “We believe that Hoshi’s facility will become a key player in the European cannabis landscape, particularly as the market continues to evolve and move forward. We remain confident in Hoshi’s ability to deliver on its goals and timelines.”
Expansion and Growth
Flora is exploring expanding its EU-GMP license from Germany by collaborating with Hoshi. This strategic move would enable Flora to establish a direct sales channel and secure a long-term supply of high-quality medical cannabis from Hoshi’s operations. This partnership would capitalize on the growing demand for high-quality cannabis in Europe while leveraging Hoshi’s favorable location.
With its entry into the THC beverage market and continued success with its investment in Hoshi, Flora Growth Corp. is poised for significant growth in the global cannabis industry. The company’s focus on innovation, strategic partnerships, and expansion into key markets sets the stage for a promising future.