Flora Growth Closes $34.5 Million Public Offering – MJ Stock TraderFlora Growth Closes $34.5 Million Public Offering – MJ Stock Trader

November 26, 2021

Flora Growth Corp. (NASDAQ:FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator and manufacturer of global cannabis products and brands, today announced the closing of its underwritten public offering of 11,500,000 units (the “Units”), with each Unit consisting of one Common Share of the Company and one-half warrant (“Unit Warrant”); each whole Unit Warrant entitling the holder thereof to purchase one Common Share. The Units sold includes an additional 1,500,000 Units sold pursuant to the exercise in full of the overallotment option granted to the underwriters. The Units were sold at a public offering price of $3.00 per Unit, resulting in gross proceeds to the Company of $34,500,000 before deducting underwriting commissions and estimated expenses payable by the Company. The Unit Warrants will have an exercise price of $3.75 per share, will be immediately exercisable and will expire five years from the date of issuance.

A.G.P./Alliance Global Partners acted as the sole book-running manager for the public offering and BMO Capital Markets and Roth Capital Partners acted as co-managers. MKM Partners served as a financial advisor to the Company.

The offering was made by means of a prospectus. A copy of the final prospectus related to the offering may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com or by visiting EDGAR on the SEC’s website at www.sec.gov.

A registration statement relating to these securities was filed with the Securities and Exchange Commission and declared effective on November 18, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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