Flora Growth Corp.’s (NASDAQ: FLGC) Shareholders Vote in Favor of All Proposals Submitted for Approval; Elect Brandon Konigsberg to Board of Directors

  • Shareholders approve all proposals submitted at this year’s annual shareholders’ meeting, including board members
  • Among the seven members of the Board of Directors elected, six were incumbents, making Brandon Konigsberg the newest addition to the Board
  • Mr. Konigsberg will lend his years of experience, having held key leadership positions in various organizations in the country
  • Luis Merchan, Flora Growth’s Chairman and CEO, noted that Mr. Konigsberg’s appointment would help the organization achieve rapid financial growth and maximize shareholder value

Annual shareholders’ meetings are usually landmark moments of shareholder democracy, offering shareholders an opportunity to participate in the company’s decisions and offer their input on resolutions brought forth by other shareholders, the Board of Directors, and company management. 

On July 5, 2022, Flora Growth (NASDAQ: FLGC), a leading all-outdoor cultivator, manufacturer, and distributor of global cannabis products and brands, held its annual shareholders’ meeting. On the agenda were four proposals for discussion:

  1. The re-appointment of Davidson & Company LLP as the company’s auditors
  2. The election of seven members of the company’s Board of Directors
  3. The approval of the company’s 2022 Incentive Compensation Plan
  4. The approval of new bylaw 1-A

Attendees voted to approve all four of the tabled proposals, details of which can be found on Flora’s Form 6-K, filed with the Securities Exchange Commission on July 6, 2022 (https://cnw.fm/Qcn3E).

The selection of a seven-member Board of Directors saw the re-election of six incumbent directors and the addition of Brandon Konigsberg. Mr. Konigsberg will serve as Chair of the Audit Committee and as a member of the Compensation Committee, in addition to executing his duties as a Board member (https://cnw.fm/kho7F).

Mr. Konigsberg will lend his years of experience in the industry, having served as an executive of JP Morgan Chase (“JPMC”) for 24 years, and held various leadership roles in different critical organizations in the country. He is currently the President and Chief Financial Officer (“CFO”) of Fynn, an education financing company, a position he has held since 2021. In addition, he holds various board director, chair, and audit committee memberships, including Chicago Atlantic Real Estate Finance, Inc., a specialty mortgage Real Estate Investment Trust (“REIT”) that lends to cannabis companies.

While confirming his appointment, Mr. Konigsberg noted “I am excited to be joining Flora’s Board of Directors and look forward to assisting the management team as the Company continues to make progress on its strategic financial plans. As an executive and entrepreneur operating for many years in finance and treasury, I look forward to taking on challenges and opportunities that lie ahead of our Board and the Flora organization.”

“The addition of Mr. Konigsberg to our Board is further testament to our ongoing commitment to fiscal discipline and sound governance,” noted Luis Merchan, Flora’s Chairman and Chief Executive Officer (“CEO”). “He brings with him exceptional experience in the fields of finance and operations and will assist in helping our organization achieve rapid financial growth and maximize our shareholder value. We are pleased to welcome Mr. Konigsberg as a valued member of our team and look forward to his contributions,” he added.

For more information, visit the company’s website at www.FloraGrowth.com.

NOTE TO INVESTORS: The latest news and updates relating to FLGC are available in the company’s newsroom at https://cnw.fm/FLGC

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