Flora Growth Corp. announced that it has entered into a securities purchase agreements with institutional investors for the purchase and sale of 1,369,000 shares of the company's common stock, no par value and warrants to purchase up to 1,369,000 common shares for the gross proceeds of $2.738 million on September 19, 2023. The combined purchase price for one common share and one warrant will be $2. The warrants will have an exercise price of $2.50 per common share, will be exercisable six months following the date of issuance, and will expire five and one-half years from the initial date of issuance.

The transaction is expected to close on or about September 21, 2023, subject to satisfaction of customary closing conditions.