Flora Growth Appoints Hussein Rakine As CEO And Board Member As Merchan Resigns

Flora Growth Corp. (NASDAQ: FLGC) has named Hussein Rakine as its new CEO and board member.

Rakine is no stranger to Flora, having founded Just Brands LLC in 2017, which was later acquired by Flora in February 2022. His experience at the helm of Just Brands LLC makes him a strong candidate for the position and an asset to Flora's leadership team, concluded the release.

According to a press release, former CEO Luis Merchan has resigned and will assist with the transition.

In February, Flora announced its revenue guidance for 2023. The organic cannabis and pharmaceutical-grade medical products producer expects to generate between $90 million to $105 million in revenue in 2023. This projection is based on the expansion of Flora's product lines and distribution channels, as well as the launch of new brands and strategic partnerships.

The company's positive outlook for 2023 is a testament to its commitment to growth and innovation in the cannabis and pharmaceutical industries.

On Tuesday evening, FLGC closed at $0.25 per share, and were up 5.13% .

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