Flora Growth prices $2.7M registered direct offering and private placement of 1.37M units at $2.00

On September 18, 2023, Flora Growth Corp., a corporation organized under the laws of the Province of Ontario (" Flora " or the " Company "), entered into a securities purchase agreement (the " Securities Purchase Agreement ") with certain institutional investors (the " Investors ") in connection with the issuance and sale by the Company in a registered direct offering (the " Registered Direct Offering ") of 1,369,000 of the Company's common shares, no par value per share (the " Common Shares " and, such number of Common Shares issued and sold in the Offering, the " Offered Shares "), pursuant to the Company's effective shelf registration statement on Form S-3 (File No. 333-274204) and a related base prospectus, together with the related prospectus supplement dated as of September 20, 2023 (such registration statement, prospectus and prospectus supplement, collectively, the " Registration Statement "), filed with the Securities and Exchange Commission.

Pursuant to a placement agent agreement (the " Placement Agent Agreement "), A.G.P./Alliance Global Partners (" A.G.P. ") acted as placement agent in connection with Offerings, and in consideration therefor the Company agreed to register and issue to A.G.P. unregistered warrants (the " Placement Agent Warrants ", and together with the Investor Warrants, the " Warrants ") to purchase up to 54,760 Common Shares (the " Placement Agent Warrant Shares ", and together with the Investor Warrant Shares, the " Warrant Shares ") pursuant to the Registration Statement.

In connection with the Offerings, on September 18, 2023, the Company entered into an amendment to certain common share purchase warrants (the " Warrant Amendments ") issued to the Investors by the Company in November 2021 and December 2022.