Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, and its Flora Lab division is launching Munzhi, a new cannabis wellness brand. The mass market brand will initially include 12 products, all certified by INVIMA, the Colombian branch of government that is equivalent to the United Stated Food and Drug Administration. The products will be distributed by five Colombian distributors, including Herson, Mintlab, Unidrogas, Roma and Axa, and will be available in an estimated 800 distribution points. Flora Lab is FLGC’s manufacturing and R&D division; Flora Lab is focused on development of pharmaceuticals, cosmetics and nutraceuticals. According to the announcement, the wellness market in Colombia has reached a $2.3 billion value, and Munzhi will be operating in this space. Initial Munzhi products will include facial serum, shampoo, conditioner, shower gel, body ointment, moisturizing lotion and more .“Through market studies, consumers have indicated they want the wellness benefits of cannabis but at an affordable price,” said Flora Growth president and CEO Luis Merchan in the press release. “Munzhi helps fill that need as well as an important gap in our product portfolio. The inaugural collection for Munzhi includes 12 products across four categories: wellness, hair, body and face. The collection combines the benefits of cannabidiol as an active ingredient, with other plant-based ingredients such as lavender oil and chamomile coconut amongst others.”
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About Flora Growth Corp.
Flora Growth is a cannabis company that leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage. As the operator of one of the largest outdoor cultivation facilities, Flora strives to market a higher-quality premium product at below-market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, Flora creates premium products that help consumers restore and thrive. For more information about the company, please visit www.FloraGrowth.ca.
NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://ibn.fm/FLGC
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