Flora Growth soars 15% premarket after entering into a non-binding Letter of Intent (LOI) with Evergreen Pharmacare Pty Ltd., an Australian importer, and distributor of medical cannabis products, to supply its premium dried flower and derivative products. The Company expects to ship its medical-grade cannabis products upon completion of its first commercial harvest and obtaining necessary export licenses. Australian medical cannabis market is expected to surpass AU$200M in 2021 and $1.5B by 2025, with patient numbers growing exponentially in recent years.”The agreement with Evergreen will allow us to establish a local partner in Australia while generating incremental revenue from our Colombian cannabis facility and as legislation evolves within Australia,” said Jason Warnock, Chief Revenue Officer of Flora Growth.

Mmp News Author, Medical Marijuana Program Connection, 07/29/2021 08:20:00

Open article: https://mmpconnect.com/flora-growth-stock-jumps-15-on-medical-cannabis-supply-deal-in-australia/