By Paul R. La Monica, CNN Business
New York (CNN Business)Most cannabis companies that list their stocks in the United States grow their products in indoor greenhouses, often in Canada.But a company named Flora Growth that went public on the Nasdaq on Tuesday is taking a different approach.
Although headquartered in Toronto, its agricultural operations are in Colombia. And it cultivates cannabis the old-fashioned way: outdoors.Why? It’s a lot cheaper.It costs Flora Growth just 6 cents to cultivate a gram of dry flower for medicinal grade cannabis in Colombia, compared to about $1.25 a gram indoors in North America, CEO Luis Merchan said in an interview with CNN Business before the IPO.
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