Franchise Global Health acquired by Flora Growth

On December 23, 2022, Flora Growth Corp. (NASDAQ: FLGC) ("Flora"), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, closed the previously disclosed acquisition of all of the issued and outstanding shares of Franchise Global Health Inc. (TSXV: FGH) ("FGH"), a multi-national operator in the medical cannabis and pharmaceutical industry, with principal operations in Germany.

FGH's German businesses operate primarily in the pharmaceutical, medical device and medicinal cannabis import and distribution markets, servicing more than 1,200 pharmacies in Germany and providing non-cannabis medical products to 28 additional countries.

The transaction was consummated by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia), pursuant to which Flora acquired all the issued and outstanding common shares of FGH in exchange for 43,525,951 Flora common shares.

Gowling WLG advised FGH with respect to this transaction with a team that included Peter Simeon, Jacob Cawker, Nav Pannu, Ashley Andaya and Jevaughn Johnson (corporate/M&A), Jonathan Ross (financial services) and Paul Carenza (tax).