From Investing.com:

Flora Growth Corp. welcomes Germany’s recreational cannabis legalization bill, making the country the largest legal cannabis market worldwide. The law allows cultivation of up to three plants, possession of 50g at home, and 25g in public spaces. Flora, with a medical cannabis license in Germany since 2017, sees the new legislation as pivotal for strategic growth.

The German parliament’s approval marks the final step in legalizing recreational cannabis, effective April 1, 2024. The legislation removes cannabis from the narcotic category, simplifying prescription requirements and improving patient access. Not-for-profit social clubs are set to start operating on July 1, 2024, opening up new opportunities in the market.

Flora Growth Corp., operating in 28 countries including Germany, anticipates a significant boost in its industry position and growth potential following the legalization. With operations in all 50 US states and over 20,000 distribution points globally, Flora sees the German market as a key component of its international business strategy. The new legislation signals a major milestone for the company’s expansion efforts.



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