On October 15, 2024, Flora Growth Corp. (NASDAQ: FLGC) (FSE: 7301) expressed optimism in response to Vice President and Democratic presidential candidate Kamala Harris’ campaign proposal to legalize recreational marijuana at the federal level. Vice President Harris emphasized the importance of dismantling unjust legal barriers by advocating for the national legalization of marijuana, with a focus on establishing safe, regulated cannabis markets and promoting economic equity. This agenda involves collaboration with Congress to legalize the cultivation, distribution, and possession of recreational cannabis throughout the United States, where currently, recreational marijuana is legal in 24 states and the District of Columbia, while still considered illegal at the federal level.
Former President Donald Trump has also shown support for cannabis legalization, committing to vote in favor of a Florida measure to legalize recreational marijuana that will be on the state’s ballot in the upcoming fall. This bipartisan support signifies the recognition of the economic and social benefits associated with regulated cannabis markets.
Clifford Starke, Chairman and Chief Executive Officer of Flora Growth Corp., expressed excitement about being part of the movement towards federal cannabis legalization in the U.S. He highlighted the potential for federal legalization to bring clarity to businesses like Flora and to address historical injustices caused by outdated cannabis laws. Flora sees the proposal as a step towards harmonizing cannabis regulations across the country and is prepared to support the development of a federal framework that ensures safe, sustainable, and equitable growth in the industry.
Looking ahead, Flora aims to engage in ongoing discussions with policymakers, stakeholders, and industry peers as the dialogue on cannabis legalization progresses with bipartisan backing. The company is committed to creating economic opportunities and fostering a fair and inclusive cannabis marketplace.
As a leading NASDAQ small-cap international cannabis company, Flora Growth Corp. focuses on consumer-packaged goods and pharmaceutical distribution to serve a global market. For more information on Flora, please visit their website.
This press release contains forward-looking statements and uncertainties, and risks may affect future outcomes. Flora encourages readers to review the cautionary statements included in the release and in their filings with the SEC for a comprehensive understanding of the potential factors that could impact actual results. The company disclaims any obligation to update or revise forward-looking statements based on changes in assumptions, information, or future events.
