Flora Growth Buys Vessel Brand For $30M In Stock And Cash

Flora Growth Corp. (NASDAQ: FLGC) confirmed Wednesday it has signed a definitive agreement with respect to the previously announced acquisition of 100% of Vessel Brand Inc. Under the deal, upon the closing of the transaction, Flora will acquire Vessel for total consideration of $30 million in cash and stock.

The total purchase price of $30 million will consist of $8 million in cash and 4.56 million privately issued Flora common shares.

Certain Vessel shareholders who obtain Flora shares under the transaction will have to sign 6-month lock-up agreements. The closing, which is subject to standard closing conditions is projected …

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