On September 25, 2024, Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301), a leading company in the cannabis industry, issued a statement commending U.S. Senator Ron Wyden for introducing the Cannabinoid Safety and Regulations Act. This legislation aims to establish a comprehensive framework to ensure the safe production, labeling, and marketing of cannabinoid products to adults, with strict measures in place to prevent access by children. The bill has received strong support from key industry organizations, including the U.S. Hemp Roundtable, the National Cannabis Industry Association, the National Industrial Hemp Council, and various state hemp industry associations.
Clifford Starke, Chairman, and CEO of Flora Growth Corp. expressed the company’s full support for the bill and its dedication to responsible regulation within the cannabinoid sector. Mr. Starke emphasized that the Cannabinoid Safety and Regulation Act represents a significant advancement for the cannabis and hemp industries by setting clear regulatory standards to protect public health and safety while enabling companies like Flora to deliver safe, high-quality cannabinoid products to adults.
The proposed legal framework of the Cannabinoid Safety and Regulation Act addresses the increasing demand for hemp-derived cannabinoid products like CBD and Delta-8 THC by implementing requirements for testing, labeling, and responsible marketing. This legislation aims to bring clarity and safety measures to the industry while safeguarding consumers.
Flora remains committed to upholding high standards of quality, safety, and compliance in the cannabis and hemp sectors. The company believes that the Cannabinoid Safety and Regulation Act will establish a more secure operating environment for businesses and consumers by providing clear regulations for the production and distribution of cannabinoid products.
The widespread support for this bill from reputable industry organizations underscores its significance and potential impact. Flora encourages swift passage of the Cannabinoid Safety and Regulation Act to promote a safer and more transparent marketplace for cannabinoid products.
Please note that this press release contains forward-looking statements, subject to various uncertainties and risks. Flora encourages individuals not to place undue reliance on these statements, as they are not guarantees of future performance. The company disclaims any obligation to revise or update forward-looking statements, except as required by law. For more information on Flora Growth Corp., please visit the company’s official website.
