Flora Growth Grants 900,000 Restricted Stock Awards to Clifford Starke, Increasing Ownership to 16.39%

2 min read | December 17, 2024 09:40 PM PST | By Team Kalkine Media

Flora Growth Grants 900,000 Restricted Stock Awards to Clifford Starke, Increasing Ownership to 16.39% — Image source: Shutterstock

Starke’s Expanded Ownership

Prior to the transaction, Starke owned 1,346,902 Common Shares, representing 7.80% of the outstanding shares of Flora Growth. Following the grant, his ownership surged to 3,850,886 Common Shares, accounting for approximately 16.39% of the company’s outstanding shares on a fully diluted basis, assuming the exercise of all options, warrants, and stock appreciation rights.

This significant increase in ownership underscores Starke’s growing influence within Flora Growth and reflects the Board’s confidence in his alignment with the company’s long-term goals.

Future Market Activity

In compliance with securities laws, the Acquiror retains the flexibility to adjust his stake in Flora Growth. This includes acquiring additional shares or other securities of the company through market transactions or other means. Similarly, Starke has the option to dispose of his holdings, depending on market conditions, Flora Growth’s business outlook, and other relevant factors.

Such actions could have implications for the company’s stock market activity, particularly given the Acquiror's expanded position and influence.

About Clifford Starke

The Acquiror, Clifford Starke, operates out of Panama City, Panama, with his office located at PH Park Loft - Suite 2006, Via Porras 75. His increased stake in Flora Growth signals a continued commitment to the company’s prospects and potential growth opportunities.

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