<SEC-DOCUMENT>0001594062-20-000088.txt : 20200928
<SEC-HEADER>0001594062-20-000088.hdr.sgml : 20200928
<ACCEPTANCE-DATETIME>20200928155911
ACCESSION NUMBER:		0001594062-20-000088
CONFORMED SUBMISSION TYPE:	1-SA
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20200630
FILED AS OF DATE:		20200928
DATE AS OF CHANGE:		20200928

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Flora Growth Corp.
		CENTRAL INDEX KEY:			0001790169
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		1-SA
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	24R-00255
		FILM NUMBER:		201204343

	BUSINESS ADDRESS:	
		STREET 1:		65 QUEEN STREET WEST
		STREET 2:		SUITE 815
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H2M5
		BUSINESS PHONE:		416-861-2267

	MAIL ADDRESS:	
		STREET 1:		65 QUEEN STREET WEST
		STREET 2:		SUITE 815
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H2M5
</SEC-HEADER>
<DOCUMENT>
<TYPE>1-SA
<SEQUENCE>1
<FILENAME>form1sa.htm
<DESCRIPTION>1-SA
<TEXT>
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  <div style="font-family: 'Times New Roman', serif; font-size: 1pt;"><a name="z_Hlk50556584"></a>&#160;&#160;</div>
  <div>&#160;</div>
  <div style="text-align: center; font-weight: bold;">UNITED STATES</div>
  <div style="text-align: center; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
  <div style="text-align: center; font-weight: bold;">Washington, D.C. 20549</div>
  <div><br>
  </div>
  <div style="text-align: center; font-weight: bold;">FORM 1-SA</div>
  <div><br>
  </div>
  <div style="text-align: center; font-weight: bold;">[ x ] SEMIANNUAL REPORT PURSUANT TO REGULATION A</div>
  <div style="text-align: center; font-weight: bold;">&#160;or</div>
  <div style="text-align: center; font-weight: bold;">[&#160;&#160; ] SPECIAL FINANCIAL REPORT PURSUANT TO REGULATION A</div>
  <div style="text-align: center;">&#160;&#160;</div>
  <div style="text-align: center;">For the fiscal semiannual period ended:&#160;</div>
  <div style="text-align: center; font-weight: bold;">June 30, 2020</div>
  <div><br>
  </div>
  <div style="text-align: center; font-weight: bold;">Flora Growth Corp.</div>
  <div style="text-align: center;">&#160;(Exact name of issuer as specified in its charter)</div>
  <div style="text-align: center;">&#160;</div>
  <div style="text-align: center; font-weight: bold;">Ontario, Canada</div>
  <div style="text-align: center;">&#160;(State or other jurisdiction of incorporation or organization)</div>
  <div style="text-align: center;">&#160;</div>
  <div style="text-align: center; font-weight: bold;">N/A</div>
  <div style="text-align: center;">&#160;(I.R.S. Employer Identification Number)</div>
  <div style="text-align: center;">&#160;</div>
  <div style="background-color: #FFFFFF;">
    <div style="text-align: center; font-weight: bold;"><a name="z_Hlk38812085"></a>65 Queen Street West, Suite 800</div>
    <div style="text-align: center; font-weight: bold;">Toronto, Ontario M5H 2M5</div>
  </div>
  <div style="text-align: center; font-weight: bold;">www.floragrowth.ca</div>
  <div style="text-align: center;">&#160;(Full mailing address of principal executive offices)</div>
  <div style="text-align: center;">&#160;</div>
  <div style="text-align: center; font-weight: bold;">+1 (416) 861 &#8211; 2267</div>
  <div style="text-align: center;">&#160;(Issuer&#8217;s telephone number, including area code)</div>
  <div>&#160;</div>
  <div style="font-family: 'Times New Roman', serif; font-size: 1pt;">&#160;</div>
  <div>&#160;</div>
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  <div style="margin-bottom: 8pt;"><font style="font-weight: bold;">Item 1.&#160;&#160; Management&#8217;s Discussion and Analysis of</font>&#160;<font style="font-weight: bold;">Financial Condition and Results Of Operations</font></div>
  <div style="text-align: justify;">This Semiannual Report on Form 1-SA contains forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Such forward-looking statements
    include statements regarding, among others, (a) our growth strategies, (b) our future financing plans, and (c) our anticipated needs for working capital. Forward-looking statements, which involve assumptions and describe our future plans, strategies,
    and expectations, are generally identifiable by use of the words &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;approximate,&#8221; &#8220;estimate,&#8221; &#8220;believe,&#8221; &#8220;intend,&#8221; &#8220;plan,&#8221; &#8220;budget,&#8221; &#8220;could,&#8221; &#8220;forecast,&#8221; &#8220;might,&#8221; &#8220;predict,&#8221; &#8220;shall&#8221; or &#8220;project,&#8221; or the
    negative of these words or other variations on these words or comparable terminology. This information may involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be
    materially different from the future results, performance, or achievements expressed or implied by any forward-looking statements. These statements may be found in this Semiannual Report.</div>
  <div style="text-align: justify; text-indent: 36pt;">&#160;</div>
  <div style="text-align: justify;">
    <div>The financial statements included herein should be read in conjunction with the audited financial statements and related notes for the <font style="background-color: #FFFFFF; font-weight: bold;">&#160;</font><font style="background-color: #FFFFFF;">period from
        incorporation on March 13, 2019 to</font><font style="background-color: #FFFFFF; font-weight: bold;">&#160;</font>December 31, 2019, contained in the Company&#8217;s Annual Report Form 1-K, as
      filed with the Securities and Exchange Commission on April 29, 2020.</div>
    <div><br>
    </div>
    <div>This MD&amp;A reports our activities through September 25<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> , 2020 unless otherwise indicated.</div>
  </div>
  <div style="text-align: justify; text-indent: 36pt;">&#160;</div>
  <div style="text-align: justify;">Forward-looking statements are based on our current expectations and assumptions regarding our business, potential target businesses, the economy and other future conditions. Because forward-looking statements relate to
    the future, by their nature, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements as a result
    of various factors, including, without limitation, changes in local, regional, national or global political, economic, business, competitive, market (supply and demand) and regulatory conditions.</div>
  <div>&#160;</div>
  <div style="text-align: justify;">We caution you therefore that you should not rely on any of these forward-looking statements as statements of historical fact or as guarantees or assurances of future performance. All forward-looking statements speak
    only as of the date of this Semiannual Report. We undertake no obligation to update any forward-looking statements or other information contained herein.</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-weight: bold;">Overview</div>
  <div style="text-align: justify;">&#160;</div>
  <div style="background-color: #FFFFFF;">
    <div style="text-align: justify; margin-bottom: 8pt;"><a name="z_Hlk19681166"></a><a name="z_Hlk19701766"></a>Flora Growth Corp. (the &#8220;Company&#8221;) was incorporated under the laws of the Province of Ontario on March 13, 2019.&#160; On October 2, 2019, the
      Company acquired 90% of a company based in Colombia, Cosechemos Ya S.A.S. (&#8220;<font style="font-weight: bold;">Cosechemos</font>&#8221;). Cosechemos was established on May 12, 2016.&#160; Cosechemos is focused on cultivating, processing and supplying all natural,
      organic medicinal-grade cannabis oil, cannabis oil extracts and related products to large channel distributors, including pharmacies, medical clinics, and cosmetic companies. We are currently in discussions with such distributors; however, we will
      require adequate funding to fulfill these business objectives and enter into definitive agreements.</div>
  </div>
  <div style="background-color: #FFFFFF;">
    <div style="text-align: justify;">Cosechemos is a licensed and permitted cultivator, producer, and distributor of CBD medical cannabis in Colombia for: (a) use in Colombia; and (b) international export.&#160; Cosechemos has (i) one property under lease, the
      Cosechemos Farm, in Giron, Santander, Colombia, and (ii) the option to lease the Palagua Farms, in Puerto Boyaca, Boyaca, Colombia. Our subsidiary&#8217;s main operations are currently in Giron, Colombia.</div>
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      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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    <div><br>
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  <div style="background-color: #FFFFFF;">
    <div style="text-align: justify;">The Cosechemos Farm is a 361 hectare property. The Palagua Farms is comprised of two contiguous farms for a total of 2,132 hectares.</div>
    <div><br>
    </div>
    <div style="text-align: justify;">On March 20, 2020, the Company incorporated a wholly owned subsidiary, Flora Growth Corp. Sucursal Colombia in Colombia.</div>
  </div>
  <div><br>
  </div>
  <div style="background-color: #FFFFFF;">
    <div style="text-align: justify;">On February 12, 2020, the Company incorporated a Limited Liability Company, Flora Beauty LLC in Colorado, United Sates.&#160; The Company has an 80% interest in this company.&#160;&#160; On August 10, 2020, the Company incorporated a
      division of Flora Beauty LLC, Flora Beauty LLC Sucursal Colombia in Colombia.</div>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify; font-weight: bold;">Results of Operations for the three and six months ended June 30, 2020, the three months ended June 30, 2019 and for the period from incorporation (March 13, 2019) to June 30, 2019.</div>
  <div style="text-align: justify;">&#160;</div>
  <div style="text-align: justify; margin-bottom: 8pt;">For the three and six months ended June 30, 2020, the Company reported a net loss of $1,664,676 and $2,548,591, respectively or $0.02 and $0.03 per share, respectively. For the three months ended June
    30, 2019 and for the period from incorporation (March 13, 2019) to June 30, 2019, the Company reported a net loss of $1,889,714 and $1,899,714, respectively or $0.82 and $0.99 per share, respectively.&#160; The Company had a working capital of $7,419,645 as
    at June 30, 2020 compared to a working capital deficit of $1,707,081 as at December 31, 2019.</div>
  <div style="text-align: justify; margin-bottom: 8pt;">The Company has and expects to continue to report negative earnings until the Company&#8217;s cannabis development program finds and develops producing assets. The Company will continue to utilize proceeds
    from financing and equity issuances to fund its cannabis program and general and administrative operating costs.&#160;As at June 30, 2020, the Company had no operating assets and expects to generate negative cash flow from operations for the foreseeable
    future.</div>
  <div style="text-align: justify; font-style: italic; font-weight: bold;">Revenues</div>
  <div style="text-align: justify;">&#160;</div>
  <div style="text-align: justify;">To date, we have not generated any revenues from our planned operations. We are a pre-revenue company with a very limited operating history upon which to base an evaluation of our business and prospects. Our short
    operating history may hinder our ability to successfully meet our objectives and makes it difficult for potential investors to evaluate our business or prospective operations.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">&#160;<font style="font-weight: bold; font-style: italic;">Research and Development Expenses</font></div>
  <div style="text-align: justify;">&#160;</div>
  <div style="text-align: justify;">Our research and development expenses were $24,785 and $53,405 for the three and six month periods ended June 30, 2020, respectively. For the three months ended June 30, 2019 and for the period from incorporation (March
    13, 2019) to June 30, 2019, the Company had research and development expenses of $nil and $nil, respectively.&#160; Research and development expenses to date consist primarily of contract research fees, manufacturing, consultant fees, and study related
    costs related to cultivation of cannabis in Colombia.</div>
  <div style="text-align: justify;">&#160;</div>
  <div style="text-align: justify; font-style: italic; font-weight: bold;">General and Administrative Operating Expenses</div>
  <div style="text-align: justify;">&#160;</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company recorded consulting and management fees of $585,422 and $818,866 for the three and six-month periods ended June 30, 2020. The Company recorded consulting and management fees of
    $1,550,610 and $1,550,610 for the three months ended June 30, 2019 and for the period from incorporation (March 13, 2019) to June 30, 2019, respectively.&#160; During the period from incorporation (March 13, 2019) to June 30, 2019, the Company granted
    bonuses of $1,400,000 to consultants, directors and officers of the Company. The bonuses were settled by the issuance of 70,000,000 common shares at a price of $0.02 per share for a value of $1,400,000 based on the value of services agreed upon by the
    consultants, directors, officers and the Company.</div>
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  <div style="text-align: justify; margin-bottom: 12pt;">The Company recorded professional fees of $88,991 and $217,960 for the three and six-month periods ended June 30, 2020.&#160; The Company recorded professional fees of $19,309 and $19,309 for the three
    months ended June 30, 2019 and for the period from incorporation (March 13, 2019) to June 30, 2019, respectively.&#160; Most of the fees relate to legal and audit fees to prepare the Regulation A+ Tier 2 materials related to the offering (the &#8220;<font style="font-weight: bold;">Offering</font>&#8221;) described below.</div>
  <div style="text-align: justify; margin-bottom: 12pt;">General office expenses of $476,656 and $662,426 for the three and six-month periods ended June 30, 2020 and were related to filing fees, rent and promotion costs.&#160; The Company recorded general
    office expenses of $24,312 and $24,312 for the three months ended June 30, 2019 and for the period from incorporation (March 13, 2019) to June 30, 2019, respectively.</div>
  <div style="text-align: justify;"><a name="z_MON_1433226895"></a><a name="z_MON_1433228168"></a><a name="z_MON_1440419907"></a><a name="z_MON_1440419920"></a><a name="z_MON_1433052412"></a><a name="z_MON_1433052439"></a><a name="z_MON_1433052473"></a><a name="z_MON_1442914337"></a><a name="z_MON_1433052526"></a>The Company recorded $206,051 and $233,362 for the three and six-month periods ended June 30, 2020 in travel expenses for various trips related to the property and the Company&#8217;s promotion.
    The Company recorded travel expenses of $219,613 and $219,613 for the three months ended June 30, 2019 and for the period from incorporation (March 13, 2019) to June 30, 2019, respectively.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The Company recorded $344,406 for the three and six-month periods ended June 30, 2020 in share-based compensation. On April 23, 2020, the Company granted 750,000 options to officers, employees and consultants of the
    Company with an exercise price of $0.75 per common share. The options vested immediately. The fair market value of the options was estimated to be $344,406 using the Black Scholes option pricing model based on the following assumptions: risk&#8209;free rate
    of 0.45%, estimated current share price of $0.64, expected volatility of 100% based on comparable companies, an estimated life of 5 years and an expected dividend yield of 0%. The Company recorded $85,870 for the three months ended June 30, 2019 and
    for the period from incorporation (March 13, 2019) to June 30, 2019, respectively in share-based compensation.</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-style: italic; font-weight: bold;">Net Loss</div>
  <div style="text-align: justify;">&#160;</div>
  <div style="text-align: justify;">Our net loss was $1,664,676 and $2,548,591 for the three and six-month periods ended June 30, 2020.&#160; The net loss was $1,899,714 and $1,899,714 for the three months ended June 30, 2019 and for the period from
    incorporation (March 13, 2019) to June 30, 2019.</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-weight: bold;">Liquidity and Capital Resources</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The Company has a short operating history and, accordingly, the Company does not generate cash from operations. The Company finances its activities through borrowings under loan agreements, raising equity capital from
    private placements, and continues to acquire public funding from the Offering (defined below). The Company may encounter difficulty sourcing future financing.</div>
  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 8pt;">Flora is offering up to 40,000,000 (the &#8220;<font style="font-weight: bold;">Maximum Offerin</font>g&#8221;) units (the &#8220;<font style="font-weight: bold;">Units</font>&#8221;) of the Company to be sold in the
    Offering. Each Unit is comprised of one common share in the capital of the Company, with no par value per share (a &#8220;<font style="font-weight: bold;">Common Share</font>&#8221;), and one-half of one Common Share purchase warrant (each whole warrant, a &#8220;<font style="font-weight: bold;">Warrant</font>&#8221;) to purchase one additional Common Share (a &#8220;<font style="font-weight: bold;">Warrant Share</font>&#8221;) at an exercise price of $1.00 per Warrant Share, subject to certain adjustments, over an 18-month exercise
    period following the date of issuance of the Warrant. The Units are being offered at a purchase price of $0.75 per Unit. Flora is selling the Units through a Tier 2 offering pursuant to Regulation A (Regulation A+) under the Securities Act of 1933.
    There is no assurance the Maximum Offering will be completed. As at September 25, 2020, the Company has received subscriptions totaling approximately $22,900,000 pursuant to the Offering.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company entered into a loan agreement in favor of QuestCap Inc. (formerly Copper One Inc.) for an amount up to $500,000 of which $497,514 of principal was drawn down by the Company in borrowings
    prior to repayment (December 31, 2019 - $497,514). The loan is a United States dollar loan which bears interest at 10% annually, is unsecured, and is payable on demand. As at December 31, 2019, the interest payable on the loan was $15,784. Stan Bharti
    and Deborah Battiston are the Chairman and Chief Financial Officer, respectively, of the Company and of QuestCap. These funds were sent to provide support to Cosechemos and to provide working capital for the Company. On January 31, 2020, the loan was
    repaid in the amount of $521,341; $497,514 to principal and $23,827 to interest.</div>
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  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company entered into a loan agreement in favor of Sulliden Mining Capital Inc. for an amount up to $525,000 of which $501,941 of principal was drawn down by the Company in borrowings prior to
    repayment (December 31, 2019 - $495,613). The loan is a United States dollar loan which bears interest at 12% annually, is unsecured, and was due on March 31, 2020. As at December 31, 2019, the interest payable on the loan was $3,681. Stan Bharti and
    Deborah Battiston are the Chairman and Chief Financial Officer, respectively, of the Company and Interim Chief Executive Officer and former Chief Financial Officer, respectively of Sulliden Mining. These funds were sent to provide support to Cosechemos
    and to provide working capital for the Company. On January 31, 2020, the loan was repaid in the amount of $510,557; $501,941 to principal and $8,616 to interest.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company entered into a loan agreement in favor of Q Gold Resources Ltd. for an amount of $16,667. The loan bears interest at 10% annually, is unsecured, and is payable on demand. As at December
    31, 2019, the interest payable on the loan was $895. Deborah Battiston is the Chief Financial Officer and Fred Leigh is a director of the Company. Deborah Battiston is the Chief Financial Officer and Fred Leigh is the former Chief Executive Officer and
    a former director of Q Gold. These funds were sent to provide support to Cosechemos and to provide working capital for the Company. On March 6, 2020, the loan was repaid in the amount of $17,637; $16,667 to principal and $970 to interest.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company has provided funding to Cosechemos for the research and development of producing medicinal CBD oil.</div>
  <div style="text-align: justify; margin-bottom: 8pt;">As at June 30, 2020, the Company had working capital of $7,419,645 (December 31, 2019 &#8211; deficiency of $1,707,081). The Company&#8217;s primary cash flow needs are for the development of its cannabis
    activities, administrative expenses and working capital.</div>
  <div style="text-align: justify; margin-bottom: 12pt;">At present, the Company has no cannabis production and consequently no revenue generating assets or operations. The recovery of the amounts expended are dependent on the ability of the Company to
    obtain necessary financing to complete the development of its cannabis operations and or other potential projects and attain future profitable production. The Company&#8217;s financial success will depend on its ability to raise financings to develop
    potential projects. At present, the Company has not established sources of income and the success of its growth and development programs will be contingent upon the Company&#8217;s ability to raise sufficient equity financing on terms favorable to the
    Company. The Company does not expect to generate any internal cash flows to help finance the development costs.</div>
  <div style="text-align: justify;">Although our business does not presently generate any cash, we believe that if we raise the maximum amount in the Offering we will have sufficient capital to finance our operations for at least the next 24 months;
    however, if we do not sell the maximum amount of the Offering or if our operating and development costs are higher than expected, we will need to obtain additional financing. We do not have any track record for self-underwritten Regulation A+
    offerings, and there can be no assurance we will raise the maximum amount or any other amount other than the amount we have already raised. Further, we expect that after such 24-month period, we will be required to raise additional funds to finance our
    operations until such time that we can conduct profitable revenue-generating activities. No assurances can be made that we will be successful in obtaining additional equity or debt financing, or that ultimately, we will achieve profitable operations
    and positive cash flow.</div>
  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company has granted a loan to Kasa Wholefoods Company S.A.S (&#8220;Kasa&#8221;).&#160; The loan accrues interest with an annual interest rate of 5%, is unsecured, and is payable on demand.&#160; As at June 30, 2020,
    the Company has a loan receivable of $218,324 (December 31, 2019 - $91,087) of which $216,000 (December 31, 2019 - $91,000) is principal and $2,324 (December 31, 2019 - $87) is interest.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"> <br>
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  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company has granted a loan of $1,000,000 to Newdene Gold Inc. (&#8220;Newdene&#8221;).&#160; The loan accrues interest with an annual interest rate of 6% and is payable six months following the closing date of
    February 12, 2020.&#160; The loan is secured by a securities pledge agreement in favor of the Company creating a security interest of 2,000,000 common shares in the capital of Flora.&#160; As at June 30, 2020, the Company has a loan receivable of $1,022,849
    (December 31, 2019 - nil) of which $1,000,000 (December 31, 2019 - nil) is principal and $22,849 (December 31, 2019 - nil) is interest.&#160; Subsequent to the period end, the loan was extended for another six months on the same terms.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company has granted a loan of CAD$100,000 ($70,811) to Consultancies and Consultancies of Latam by GM LLC (&#8220;Consultancies&#8221;).&#160; The loan accrues interest with an annual interest rate of 5% and is
    payable sixty days following the closing date of April 17, 2020.&#160; As at June 30, 2020, the Company has a loan receivable of CAD$100,000 ($73,380) (December 31, 2019 - nil) of which $73,380 (December 31, 2019 - nil) is principal and nil (December 31,
    2019 - nil) is interest.&#160; Subsequent to the period end, the loan was extended for another four months on the same terms.</div>
  <div style="text-align: justify;">The Company does not pay dividends and, other than the debt discussed above, had no long-term debt or bank facilities, other than the lease liability.</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-style: italic;">Going Concern</div>
  <div style="text-align: justify;">&#160;</div>
  <div style="text-align: justify;">Our interim condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The
    Company&#8217;s ability to continue as a going concern is contingent upon its ability to raise additional capital as required. During the period from March 13, 2019 (inception) through June 30, 2020, the Company incurred cumulative net losses of $5,255,032.
    Initially, we intend to finance our operations through equity and debt financings.&#160;</div>
  <div style="text-align: justify;">&#160;&#160;</div>
  <div style="text-align: justify;">We do not generate any cash on our own. We have funded operations with capital raised from the Offering; however, there is no guarantee of continued funding under the Offering.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">We continually evaluate our plan of operations to determine the manner in which we can most effectively utilize our limited cash resources. The timing of completion of any aspect of our plan of operations is highly
    dependent upon the availability of cash to implement that aspect of the plan and other factors beyond our control. There is no assurance that we will successfully obtain the required capital or revenues, or, if obtained, that the amounts will be
    sufficient to fund our ongoing operations.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">These conditions indicate the existence of material uncertainties which cast substantial doubt about the Company&#8217;s ability to continue as a going concern, and our financial statements do not include any adjustments that
    might result from the outcome of these uncertainties.</div>
  <div style="text-align: justify;"><a name="z_Hlk50723738"></a><br>
  </div>
  <div style="text-align: justify; font-style: italic;">Capital Expenditures</div>
  <div style="text-align: justify;">&#160;</div>
  <div style="text-align: justify;">We do not have any contractual obligations for ongoing capital expenditures at this time.</div>
  <div style="text-align: justify;">&#160;</div>
  <div style="text-align: justify; font-style: italic;">Off-Balance Sheet Arrangements</div>
  <div style="text-align: justify;">&#160;</div>
  <div style="text-align: justify;">We did not have, during the periods presented, and we do not currently have, any off-balance sheet arrangements.</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-style: italic;">Contractual Obligations, Commitments and Contingencies</div>
  <div style="text-align: justify;">&#160;</div>
  <div style="text-align: justify;">Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The
    Company&#8217;s management, in consultation with its legal counsel as appropriate, assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are
    pending against the Company or unasserted claims that may result in such proceedings, the Company, in consultation with legal counsel, evaluates the perceived merits of any legal proceedings or unasserted claims, as well as the perceived merits of the
    amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued
    in the Company&#8217;s financial statements. If the assessment indicates a potentially material loss contingency is not probable, but is reasonably possible, or is probable, but cannot be estimated, then the nature of the contingent liability, together with
    an estimate of the range of possible loss, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. We are not
    aware of any matters which result in a loss contingency.</div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">6</font></div>
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      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify; font-weight: bold;">Trend Information</div>
  <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt;">Because we are still in the startup phase and have only recently commenced operations, we are unable to identify any recent trends in revenue, income or profitability. Other than as
    set forth below regarding the current pandemic crisis, we are unable to identify any known trends, uncertainties, demands, commitments or events involving our business that are reasonably likely to have a material effect on our revenues, income from
    operations, profitability, liquidity or capital resources, or that would cause the reported financial information in the Offering to not be indicative of future operating results or financial condition.</div>
  <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; font-style: italic; font-weight: bold;">NOVEL CORONAVIRUS (&#8220;COVID-19&#8221;)</div>
  <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt;">The Company&#8217;s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease and other unforeseen events, including the
    recent outbreak a of respiratory illness caused by COVID-19 and the related economic repercussions. The Company cannot accurately predict the impact COVID-19 will have on its operations and the ability of others to meet their obligations with the
    Company, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In
    addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could
    further affect the Company&#8217;s operations and ability to finance its operations.</div>
  <div style="text-align: justify; margin-bottom: 8pt;"><a name="z_Hlk50723758"></a>Agricultural activity has been declared as an essential activity in Colombia.&#160; Cosechemos is operating under a protocol authorized by the Colombian government.</div>
  <div style="text-align: justify; margin-bottom: 8pt;"><a name="z_Hlk50723774"></a>At the farm in Santander, all employees receive a new mask and a new set of surgical gloves daily. Hand sanitizer is provided and hand washing protocols are in place. The
    employees are also provided a transparent face protection mask, which is replaced every 30 days. &#160;All employees have their temperature taken three times daily and must report to the Health and Safety office if they are experiencing any symptoms,
    including diarrhea, cough, runny nose, or headache. &#160;If an employee reports any of these symptoms, the employee is sent home to isolate for 14 days, if the symptoms persist for 72 hours, the employee is required to go to a hospital. &#160;</div>
  <div style="text-align: justify; margin-bottom: 8pt;">The farm is located in a rural area, and there have been no positive cases of COVID-19 reported to date. &#160;The province in which the farm is located has reported 475 cases across a population of
    2,340,765 to date.</div>
  <div style="text-align: justify; margin-bottom: 8pt;">Our staff from the Bogot&#225; office have been working from home since March 25, 2020, and staff from the Toronto office have also been working from home since March 17, 2020.</div>
  <div style="text-align: justify; margin-bottom: 8pt;">We have had no reported cases of COVID-19 amongst our staff to date.</div>
  <div style="font-weight: bold;">Item 2. Other Information</div>
  <div><br>
  </div>
  <div>None</div>
  <div>&#160;</div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">7</font></div>
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      <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
  </div>
  <div>&#160;<font style="font-weight: bold;">Item 3. Financial Statements</font></div>
  <div><br>
  </div>
  <div style="text-align: justify;">&#160;</div>
  <div style="text-align: center; font-weight: bold;">INDEX TO FINANCIAL STATEMENTS</div>
  <div>&#160;</div>
  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z5bc9d289351f40a8897dfd08bf8c1ed2" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 91%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
          <div>&#160;</div>
        </td>
        <td style="width: 9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="text-align: center; font-weight: bold;">Page</div>
        </td>
      </tr>
      <tr>
        <td style="width: 91%; vertical-align: middle;">
          <div>&#160;</div>
        </td>
        <td style="width: 9%; vertical-align: bottom;">
          <div style="text-align: center;">&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 91%; vertical-align: middle;">
          <div>&#160;</div>
        </td>
        <td style="width: 9%; vertical-align: bottom;">
          <div style="text-align: center;">&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 91%; vertical-align: middle; background-color: #CCEEFF;">
          <div>Interim Condensed Consolidated Statement of Financial Position as at June 30, 2020 (unaudited)</div>
        </td>
        <td style="width: 9%; vertical-align: bottom; background-color: #CCEEFF;">
          <div style="text-align: center;">F-2<br>
          </div>
        </td>
      </tr>
      <tr>
        <td style="width: 91%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 9%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: center;">&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 91%; vertical-align: middle; background-color: #CCEEFF;">
          <div><a name="z_Hlk19631660"></a>Interim Condensed Consolidated Statement of Loss and Comprehensive Loss for the three and six month periods ended June 30, 2020 (unaudited)</div>
        </td>
        <td style="width: 9%; vertical-align: bottom; background-color: #CCEEFF;">
          <div style="text-align: center;">F-3<br>
          </div>
        </td>
      </tr>
      <tr>
        <td style="width: 91%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 9%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: center;">&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 91%; vertical-align: middle; background-color: #CCEEFF;">
          <div>Interim Condensed Consolidated Statement of Shareholders&#8217; Equity for the six month period ended June 30, 2020 (unaudited)</div>
        </td>
        <td style="width: 9%; vertical-align: bottom; background-color: #CCEEFF;">
          <div style="text-align: center;">F-4<br>
          </div>
        </td>
      </tr>
      <tr>
        <td style="width: 91%; vertical-align: middle;">&#160;</td>
        <td style="width: 9%; vertical-align: bottom;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 91%; vertical-align: middle; background-color: #CCEEFF;">
          <div>Interim Condensed Consolidated Statement of Cash Flows for the six month period ended June 30, 2020 (unaudited)</div>
        </td>
        <td style="width: 9%; vertical-align: bottom; background-color: #CCEEFF;">
          <div style="text-align: center;">F-5<br>
          </div>
        </td>
      </tr>
      <tr>
        <td style="width: 91%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 9%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: center;">&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 91%; vertical-align: middle; background-color: #CCEEFF;">
          <div>Notes to the interim condensed Consolidated Financial Statements for the six months ended June 30, 2020 (unaudited)</div>
        </td>
        <td style="width: 9%; vertical-align: bottom; background-color: #CCEEFF;">
          <div style="text-align: center;">F-6<br>
          </div>
        </td>
      </tr>

  </table>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">8</font></div>
    <div style="page-break-after:always;" id="DSPFPageBreak">
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  </div>
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  <div><br>
  </div>
  <div style="text-align: center; font-weight: bold;">Flora Growth Corp.</div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div style="text-align: center; font-weight: bold;">INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>
  <div><br>
  </div>
  <div style="text-align: center; font-weight: bold;">For the three and six months ended June 30, 2020 and the three months ended June 30, 2019 and the period from incorporation on March 13, 2019 to June 30, 2019</div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div style="text-align: center; font-weight: bold;">(Expressed in United States Dollars)</div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">F-1</font></div>
    <div style="page-break-after:always;" id="DSPFPageBreak">
      <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
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  <!--PROfilePageNumberReset%Num%2%F-%%-->
  <div><font style="font-weight: bold;"> </font><font style="font-size: 12pt;"><br>
    </font></div>
  <div>
    <table id="z8962667d1fe14ea3a80252638e39c11a" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td colspan="8" rowspan="1" style="vertical-align: top; font-size: 12pt;" valign="bottom">
            <div style="font-weight: bold;">Flora Growth Corp.</div>
          </td>
          <td colspan="1" rowspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="8" rowspan="1" style="vertical-align: top;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Interim Condensed Consolidated Statement of Financial Position</div>
          </td>
          <td colspan="1" rowspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="8" rowspan="1" style="vertical-align: top;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">(Expressed in US dollars)</div>
          </td>
          <td colspan="1" rowspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">As at:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> June 30, </div>
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">2020</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">December 31, 2019</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">ASSETS</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Current</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Cash</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">6,188,072</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">159,797</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Restricted cash (Note 3)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">516,256</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Amounts receivable (Note 4)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">230,958</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">20,401</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Loans receivable (Note 5)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">1,314,553</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">91,087</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Prepaid expenses</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">53,346</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">210,197</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Advances (Note 5)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">401,237</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Total current assets</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">8,704,422</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">481,482</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Non-current</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Property, plant and equipment (Note 6)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">430,534</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">434,520</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Intangible asset (Note 8)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">221,310</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">247,995</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Total assets</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">9,356,266</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,163,997</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">LIABILITIES</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Current</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Trade payables and accrued liabilities (Note 14)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">1,232,062</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,105,637</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Loans payable (Note 9)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,030,154</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Current lease liability (Note 10)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">52,715</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">52,772</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Total current liabilities</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">1,284,777</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">2,188,563</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Non-current</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Non-current lease liability (Note 10)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">187,431</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">245,801</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Total liabilities</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Share capital (Note 11(b))</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif;">1,400,000</div>
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        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">1,657,367</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Options (Note 12)</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">422,916</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif;">85,870</div>
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        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Non-controlling interest</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(56,596</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif;">(10,896</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">)</div>
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        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Accumulated other comprehensive loss</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">59,019</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif;">6,800</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Deficit</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(5,255,032</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif;">(2,752,141</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">)</div>
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        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
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            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">7,884,058</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif;">(1,270,367</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">)</div>
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        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Total liabilities and shareholders' equity (deficiency)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">9,356,266</div>
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            <div style="font-family: 'Times New Roman', Times, serif;">1,163,997</div>
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  </div>
  <div style="margin-top: 5.65pt;">
    <div style="font-weight: bold;">Nature and continuance of operations (Note 1)</div>
    <div style="font-weight: bold;">Commitments and contingencies (Note 15)</div>
    <div style="font-weight: bold;">Subsequent events (Note 19)</div>
    <div><br>
    </div>
    <div style="font-style: italic;">The accompanying notes are an integral part of these interim condensed consolidated financial statements.</div>
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    <div>APPROVED ON BEHALF OF THE BOARD<br>
      <br>
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    <div>Signed<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 108pt">&#160;</font><font style="font-style: italic;"><u>&#8220;Damian Lopez&#8221;</u></font>, DIRECTOR</div>
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    <div>Signed<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 108pt">&#160;</font><font style="font-style: italic;"><u>&#8220;Fred Leigh&#8221;</u></font>, DIRECTOR</div>
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  <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-style: italic;">The accompanying notes are an integral part of these interim condensed consolidated financial statements.</div>
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    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">F-2</font></div>
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            <div style="font-weight: bold;">Flora Growth Corp.</div>
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          <td colspan="1" rowspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
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          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
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          <td colspan="1" rowspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
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          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
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          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
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          <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
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          <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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            <div style="font-family: &#38;quot; font-weight: bold;">For the three months ended</div>
            <div style="font-family: &#38;quot; font-weight: bold;">June 30, 2020<br>
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          <td colspan="1" style="text-align: center; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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            <div style="font-family: &#38;quot; font-weight: bold;">For the three months ended</div>
            <div style="font-family: &#38;quot; font-weight: bold;">June 30, 2019 <br>
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            <div style="font-family: &#38;quot; font-weight: bold;">For the six months ended</div>
            <div style="font-family: &#38;quot; font-weight: bold;">June 30, 2020<br>
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            <div style="font-family: &#38;quot; font-weight: bold;">For the period from incorporation (March 13, 2019) to <br>
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          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Expenses</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Consulting and management fees (Note 11(b) and 14)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">585,422</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,550,610</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">818,866</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,550,610</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Professional fees</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">88,991</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">19,309</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">217,960</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">19,309</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">General office expenses</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">476,656</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">24,312</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">662,426</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">24,312</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Travel expenses</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">206,051</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">219,613</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">233,362</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">219,613</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Share based compensation (Note 12)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">344,406</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">85,870</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">344,406</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">85,870</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Amortization (Notes 6 and 8)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">27,417</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">56,617</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Research and development</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">24,785</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">53,405</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Foreign exchange (gain)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(75,430</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">170,041</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Loss before interest expense</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">1,678,298</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,899,714</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">2,557,083</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,899,714</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Interest expense (Note 9)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">38,749</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">72,087</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Other income (Note 5)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(52,371</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(80,579</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Net loss for the period</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">1,664,676</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,899,714</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">2,548,591</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,899,714</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Other comprehensive loss</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Exchange differences on foreign operations</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(100,981</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(52,219</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Total comprehensive loss for the period</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">1,563,695</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,899,714</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">2,496,372</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,899,714</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Net loss attributable to:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Flora Growth Corp.</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">1,648,217</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,899,714</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">2,502,891</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,899,714</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Non-controlling interests</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">16,459</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">45,700</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif;">Comprehensive loss attributable to:</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
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            <div style="font-family: 'Times New Roman', Times, serif;">Flora Growth Corp.</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">1,547,236</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,899,714</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">2,450,672</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,899,714</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td style="vertical-align: top; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Non-controlling interests</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">16,459</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">45,700</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td colspan="1" style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Basic and diluted loss per share attributable to Flora Growth Corp.</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">0.02</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">0.82</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">0.03</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">0.99</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td colspan="1" style="vertical-align: top; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Weighted average number of common shares</div>
            <div style="font-family: 'Times New Roman', Times, serif;">outstanding - basic and diluted (Note 16)</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">85,432,654</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif;">2,307,692</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">81,126,625</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif;">1,926,606</div>
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  <div><br>
  </div>
  <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-style: italic;">The accompanying notes are an integral part of these interim condensed consolidated financial statements.</div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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  <font style="font-weight: bold; font-size: 12pt;"><br>
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  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; font-size: 12pt;">Flora Growth Corp.</div>
  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><font style="font-weight: normal;">Interim Condensed Consolidated Statement of Shareholders' Equity</font></div>
  <div style="font-family: 'Times New Roman',Times,serif; font-weight: normal;">(Expressed in United States dollars)</div>
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  <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> <br>
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          <td style="width: 9.83%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
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          <td style="width: 7.79%; vertical-align: top;">
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          <td style="width: 8.03%; vertical-align: top;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">&#160;$</div>
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          <td style="width: 8.77%; vertical-align: top;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">&#160;$</div>
          </td>
          <td style="width: 10.71%; vertical-align: top;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">&#160;$</div>
          </td>
          <td style="width: 9.83%; vertical-align: top;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">&#160;$</div>
          </td>
          <td style="width: 7.87%; vertical-align: top;">&#160;</td>
          <td style="width: 9.09%; vertical-align: top;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">&#160;$</div>
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        <tr>
          <td style="width: 29.87%; vertical-align: top;">
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          </td>
          <td style="width: 8.04%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 7.79%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 8.03%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 8.77%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 10.71%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 9.83%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 7.87%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 9.09%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
        </tr>
        <tr>
          <td style="width: 29.87%; vertical-align: top;">&#160;</td>
          <td style="width: 8.04%; vertical-align: top;">&#160;</td>
          <td style="width: 7.79%; vertical-align: top;">&#160;</td>
          <td style="width: 8.03%; vertical-align: top;">&#160;</td>
          <td style="width: 8.77%; vertical-align: top;">&#160;</td>
          <td style="width: 10.71%; vertical-align: top;">&#160;</td>
          <td style="width: 9.83%; vertical-align: top;">&#160;</td>
          <td style="width: 7.87%; vertical-align: top;">&#160;</td>
          <td style="width: 9.09%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 29.87%; vertical-align: top;">
            <div style="font-size: 8pt;">&#160;Common shares issued (Note 11(b))</div>
          </td>
          <td style="width: 8.04%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;70,000,000</div>
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          <td style="width: 7.79%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,400,000</div>
          </td>
          <td style="width: 8.03%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 8.77%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 10.71%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 9.83%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 7.87%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
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          <td style="width: 9.09%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,400,000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 29.87%; vertical-align: top;">
            <div style="font-size: 8pt;">&#160;Options issued (Note 12)</div>
          </td>
          <td style="width: 8.04%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 7.79%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 8.03%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;85,870</div>
          </td>
          <td style="width: 8.77%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 10.71%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 9.83%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 7.87%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 9.09%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;85,870</div>
          </td>
        </tr>
        <tr>
          <td style="width: 29.87%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-size: 8pt;">&#160;Loss and comprehensive loss for the period</div>
          </td>
          <td style="width: 8.04%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-size: 8pt;">&#160;-</div>
          </td>
          <td style="width: 7.79%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 8.03%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 8.77%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-size: 8pt;">&#160;-</div>
          </td>
          <td style="width: 10.71%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
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          <td style="width: 9.83%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,899,714)</div>
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          <td style="width: 7.87%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
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          <td style="width: 9.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
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        </tr>
        <tr>
          <td style="width: 29.87%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="font-size: 8pt;">&#160;Balance, June 30, 2019</div>
          </td>
          <td style="width: 8.04%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;70,000,000</div>
          </td>
          <td style="width: 7.79%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,400,000</div>
          </td>
          <td style="width: 8.03%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;85,870</div>
          </td>
          <td style="width: 8.77%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: right; font-size: 8pt;">&#160;-</div>
          </td>
          <td style="width: 10.71%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 9.83%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,899,714)</div>
          </td>
          <td style="width: 7.87%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 9.09%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(413,844)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 29.87%; vertical-align: top;">&#160;</td>
          <td style="width: 8.04%; vertical-align: top;">&#160;</td>
          <td style="width: 7.79%; vertical-align: top;">&#160;</td>
          <td style="width: 8.03%; vertical-align: top;">&#160;</td>
          <td style="width: 8.77%; vertical-align: top;">&#160;</td>
          <td style="width: 10.71%; vertical-align: top;">&#160;</td>
          <td style="width: 9.83%; vertical-align: top;">&#160;</td>
          <td style="width: 7.87%; vertical-align: top;">&#160;</td>
          <td style="width: 9.09%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 29.87%; vertical-align: top;">
            <div style="font-size: 8pt;">&#160;Balance, December 31, 2019</div>
          </td>
          <td style="width: 8.04%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;70,000,000</div>
          </td>
          <td style="width: 7.79%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,400,000</div>
          </td>
          <td style="width: 8.03%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;85,870</div>
          </td>
          <td style="width: 8.77%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;-</div>
          </td>
          <td style="width: 10.71%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,800</div>
          </td>
          <td style="width: 9.83%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,752,141)</div>
          </td>
          <td style="width: 7.87%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(10,896)</div>
          </td>
          <td style="width: 9.09%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,270,367)</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 29.87%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 8.04%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 7.79%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 8.03%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 8.77%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 10.71%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 9.83%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 7.87%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 9.09%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 29.87%; vertical-align: top;">
            <div style="font-size: 8pt; font-weight: bold;">&#160;Regulation A Offering (Note 11(b))</div>
          </td>
          <td style="width: 8.04%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;17,170,100</div>
          </td>
          <td style="width: 7.79%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;10,984,300</div>
          </td>
          <td style="width: 8.03%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 8.77%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,893,275</div>
          </td>
          <td style="width: 10.71%; vertical-align: top;">&#160;</td>
          <td style="width: 9.83%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 7.87%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 9.09%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;12,877,575</div>
          </td>
        </tr>
        <tr>
          <td style="width: 29.87%; vertical-align: top;">
            <div style="font-size: 8pt; font-weight: bold;">&#160;Share issuance costs (Note 11(b))</div>
          </td>
          <td style="width: 8.04%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 7.79%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,365,276)</div>
          </td>
          <td style="width: 8.03%; vertical-align: top;">&#160;</td>
          <td style="width: 8.77%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(235,908)</div>
          </td>
          <td style="width: 10.71%; vertical-align: top;">&#160;</td>
          <td style="width: 9.83%; vertical-align: top;">&#160;</td>
          <td style="width: 7.87%; vertical-align: top;">&#160;</td>
          <td style="width: 9.09%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,601,184)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 29.87%; vertical-align: top;">
            <div style="font-size: 8pt; font-weight: bold;">&#160;Options exercised</div>
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          <td style="width: 8.04%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;600,000</div>
          </td>
          <td style="width: 7.79%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;37,360</div>
          </td>
          <td style="width: 8.03%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(7,360)</div>
          </td>
          <td style="width: 8.77%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 10.71%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 9.83%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 7.87%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
          <td style="width: 9.09%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;30,000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 29.87%; vertical-align: top;">
            <div style="font-size: 8pt; font-weight: bold;">&#160;Options issued (Note 12)</div>
          </td>
          <td style="width: 8.04%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;-</div>
          </td>
          <td style="width: 7.79%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;-</div>
          </td>
          <td style="width: 8.03%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;344,406</div>
          </td>
          <td style="width: 8.77%; vertical-align: top;">
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;52,219</div>
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
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          <td style="width: 7.87%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
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          <td style="width: 9.09%; vertical-align: top;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;52,219</div>
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        <tr>
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
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          <td style="width: 8.77%; vertical-align: top; border-bottom: #000000 2px solid;">
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          <td style="width: 10.71%; vertical-align: top; border-bottom: #000000 2px solid;">&#160;</td>
          <td style="width: 9.83%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,502,891)</div>
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(45,700)</div>
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,548,591)</div>
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        <tr>
          <td style="width: 29.87%; vertical-align: top; border-bottom: #000000 4px double;">
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;87,770,100</div>
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;11,056,384</div>
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          <td style="width: 8.03%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;422,916</div>
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            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,657,367</div>
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          <td style="width: 10.71%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;59,019</div>
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          <td style="width: 9.83%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(5,255,032)</div>
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          <td style="width: 7.87%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(56,596)</div>
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          <td style="width: 9.09%; vertical-align: top; border-bottom: #000000 4px double;">
            <div style="text-align: right; font-size: 8pt; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7,884,058</div>
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    <div>
      <div><br>
      </div>
      <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-style: italic;">The accompanying notes are an integral part of these interim condensed consolidated financial statements.</div>
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            <div>Interim Condensed Consolidated Statement of Cash Flows</div>
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          <td style="vertical-align: top;" valign="bottom">&#160;</td>
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          <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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          <td style="vertical-align: top;" valign="bottom">&#160;</td>
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          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
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          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif;">Net loss for the period</div>
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            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(2,548,591</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">)</div>
          </td>
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        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
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            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Share-based compensation (Note 12)</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">344,406</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif;">85,870</div>
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        </tr>
        <tr>
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            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Bonus paid in shares (Note 11(b))</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">1,400,000</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Amortization (Notes 6 and 8)</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">56,617</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Accrued interest on loans receivable (Note 5)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(25,086</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Accrued interest on loans payable (Note 9)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">13,053</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(2,159,601</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
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            <div style="font-family: 'Times New Roman', Times, serif;">(413,844</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">)</div>
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        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
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          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
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        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Net change in non&#8209;cash working capital (Note 3)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(443,537</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif;">413,844</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Net cash flows from operating activities</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
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            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(2,603,138</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">CASH FROM FINANCING ACTIVITIES:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Regulation A Offering (Note 11(b))</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">12,877,575</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Unit issue costs (Note 11(b))</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(1,601,184</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Exercise of options (Note 11(b))</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">30,000</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Repayment of lease liability (Note 10)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(20,531</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Loan received (Note 9)</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">6,328</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Loan repayments (Note 9)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(1,049,535</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Net cash flows from financing activities</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">10,242,653</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">CASH FROM INVESTING ACTIVITIES:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Loans provided (Note 5)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(1,195,811</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Advances (Note 5)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(401,237</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Acquisition of equipment (Note 6)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(83,416</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">Net cash flow from investing activities</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(1,680,464</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%;" valign="bottom">
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
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          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">CASH, beginning of the period</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">159,797</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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        <tr>
          <td colspan="1" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">CASH, end of the period</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">6,188,072</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-family: 'Times New Roman', Times, serif;">-</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>

    </table>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-style: italic;">The accompanying notes are an integral part of these interim condensed consolidated financial statements.</div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">F-5</font></div>
    <div style="page-break-after:always;" id="DSPFPageBreak">
      <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
  </div>
  <div style="text-align: justify; font-size: 14pt; font-weight: bold;">Flora Growth Corp.</div>
  <div style="text-align: justify; font-weight: bold;">Notes to the interim condensed consolidated financial statements</div>
  <div style="text-align: justify;">For the six months ended June 30, 2020 and the period from incorporation on March 13, 2019 to June 30, 2019</div>
  <div style="text-align: justify;">(expressed in United States dollars)</div>
  <div style="text-align: justify;"> <br>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">1.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">NATURE AND
      CONTINUANCE OF OPERATIONS</font></div>
  <div style="text-align: justify;">Flora Growth Corp. (the &#8220;Company&#8221; or &#8220;Flora&#8221;) was incorporated under the laws of the Province of Ontario, Canada by Articles of Incorporation, on March 13, 2019. The Company is focused on developing business for the
    purpose of cultivating, processing and supplying all natural, medicinal-grade cannabis oil, cannabis oil extracts and related products to large channel distributors, including pharmacies, medical clinics, and cosmetic companies. The Company&#8217;s head
    office is located at 65 Queen Street West, Suite 800, Toronto, Ontario, M5H 2M5, Canada.</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-weight: bold;">Going concern</div>
  <div><br>
  </div>
  <div style="text-align: justify;">These interim condensed consolidated financial statements have been prepared on a going concern basis, which assumes that the Company will be able to continue in operation for the foreseeable future and will be able to
    realize its assets and discharge its liabilities and commitments in the normal course of business. It will need to raise additional capital in the near term to fund its ongoing operations and business activities. While the Company has engaged in an
    offering of units (Notes 11(b) and 19), there is no assurance of the amount of financing that will be received. There is also no assurance that other financings will be available on terms acceptable to the Company or at all.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">These interim condensed consolidated financial statements do not reflect the adjustments to the carrying values of assets and liabilities and the reported expenses and classifications in the interim condensed
    consolidated statement of financial position that may be necessary were the Company unable to continue as a going concern and these adjustments could be material.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The business of cannabis growth and development of Cannabidiol (&#8220;CBD&#8221;) oils involves a high degree of risk and there can be no assurance that current business development programs will result in profitable cannabis
    operations. The Company&#8217;s continued existence is dependent upon the acquisition of assets, preservation of its interest in the underlying assets, acquisition of various licenses, the achievement of profitable operations, or the ability of the Company
    to raise alternative financing, if necessary, or alternatively upon the Company&#8217;s ability to dispose of its assets and operations on an advantageous basis.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The Company does not have any operating assets that generate revenues and incurred a net loss of $2,548,591 during the six months ended June 30, 2020 (net loss of $1,899,714 for the period from March 13, 2019 to June 30,
    2019). These conditions indicate the existence of material uncertainties which cast substantial doubt about the Company&#8217;s ability to continue as a going concern.</div>
  <div><br>
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  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">2.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">BASIS OF
      PRESENTATION</font></div>
  <div style="font-weight: bold;">Statement of compliance</div>
  <div><br>
  </div>
  <div style="text-align: justify;">These interim condensed consolidated financial statements have been prepared by management in accordance with International Accounting Standard (&#8220;IAS&#8221;) 34, Interim Financial Reporting, as issued by the International
    Accounting Standards Board (&#8220;IASB&#8221;). These financial statements do not include all notes of the type normally included within the annual financial statements and should be read in conjunction with the audited consolidated financial statements of the
    Company for the period from March 13, 2019 (incorporation) to December 31, 2019, which have been prepared in accordance with International Financial Reporting Standards (&#8220;IFRS&#8221;) issued by the International Accounting Standards Board (&#8220;IASB&#8221;) and
    interpretations issued by the IFRS Interpretations Committee (&#8220;IFRIC&#8221;).</div>
  <div><br>
  </div>
  <div style="text-align: justify;">These interim condensed consolidated interim financial statements have been prepared following the same accounting policies used in the preparation of the audited financial statements of the Company for the period from
    March 13, 2019 (incorporation) to December 31, 2019, with the exception of the adoption of amendments to accounting standards as described below.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">These interim condensed consolidated financial statements were approved and authorized for issuance by the Board of Directors of the Company on September 25, 2020.</div>
  <div style="text-align: justify;"> <br>
  </div>
  <div>
    <div style="text-align: justify; font-weight: bold;">Basis of consolidation</div>
    <div><br>
    </div>
    <div style="text-align: justify;">These interim condensed consolidated financial statements include the accounts of the Company and its subsidiaries, Cosechemos YA S.A.S. (90% owned) and Flora Growth Corp. Sucursal Colombia (100% owned), which was
      incorporated on March 20, 2020.&#160; All significant intercompany balances and transactions were eliminated on consolidation. Subsidiaries are entities the Company controls when it is exposed, or has rights, to variable returns from its involvement in
      the entity and has the ability to affect those returns through its power to direct the relevant activities of the entity.</div>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">F-6</font></div>
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      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div style="text-align: justify; font-weight: bold;">
    <div style="font-size: 14pt; font-weight: bold;">Flora Growth Corp.</div>
    <div style="font-weight: bold;">Notes to the interim condensed consolidated financial statements</div>
    <div style="font-family: 'Times New Roman',Times,serif; font-weight: normal;">For the six months ended June 30, 2020 and the period from incorporation on March 13, 2019 to June 30, 2019</div>
    <div style="font-family: 'Times New Roman',Times,serif; font-weight: normal;">(expressed in United States dollars)</div>
    <div style="font-family: 'Times New Roman',Times,serif; font-weight: normal;"> <br>
    </div>
  </div>
  <div style="font-weight: bold;">Basis of measurement</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The interim condensed consolidated financial statements of the Company have been prepared on an accrual basis, and are based on historical cost.</div>
  <div><br>
  </div>
  <div style="font-weight: bold;">Foreign currency translation</div>
  <div><br>
  </div>
  <div>The presentation currency and functional currency of the Company is the United States dollar. The functional currency of Cosechemos YA S.A.S. and Flora Growth Corp. Sucursal Colombia is the Colombian Peso.</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-weight: bold;">New accounting standards</div>
  <div><br>
  </div>
  <div style="text-align: justify;">Certain pronouncements were issued by the IASB or the IFRIC that are mandatory for accounting periods on or after January 1, 2020 or later periods. Many are not applicable or do not have a significant impact to the
    Company and have been excluded.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">IAS 1 &#8211; Presentation of Financial Statements (&#8220;IAS 1&#8221;) and IAS 8 &#8211; Accounting Policies, Changes in Accounting Estimates and Errors (&#8220;IAS 8&#8221;) were amended in October 2018 to refine the definition of materiality and
    clarify its characteristics. The revised definition focuses on the idea that information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial
    statements make on the basis of those financial statements. The adoption of IAS 1 on January 1, 2020 did not have a material impact on the Company&#8217;s interim condensed consolidated financial statements.</div>
  <div><br>
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  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">3.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">RESTRICTED
      CASH</font></div>
  <div style="text-align: justify;">Restricted cash consists of cash held by the Company&#8217;s escrow agent in relation to the investments made by the potential investors that have not passed clearance requirements for the subscription of the Company&#8217;s capital
    as of June 30, 2020. The corresponding amount has been recorded in accounts payable, and represents a non-cash transaction. See Note 19 for units issued subsequent to June 30, 2020.</div>
  <div><br>
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  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">4.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">AMOUNTS
      RECEIVABLE</font></div>
  <div style="text-align: justify;">The amounts receivable balance as at June 30, 2020 and December 31, 2019 consists of amounts receivable from the Government of Canada for Harmonized Sales Taxes (&#8220;HST&#8221;) and sundry receivables.</div>
  <div><br>
  </div>
  <table id="zb7dda09bcab4499f89c6b0a43aa40e93" style="width: 70%; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left;" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> June 30, 2020</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">December 31, 2019</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td style="vertical-align: bottom;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: top;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: bottom;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td style="vertical-align: bottom; width: 76%;" valign="bottom">
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        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">223,477</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">18,840</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">Sundry receivables</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">7,481</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">1,561</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">Total</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">230,958</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">20,401</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>

  </table>
  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">5.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">LOANS
      RECEIVABLE AND ADVANCES</font></div>
  <div style="text-align: justify; font-style: italic; font-weight: bold;">Loans Receivable</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company has granted a loan to Kasa Wholefoods Company S.A.S (&#8220;Kasa&#8221;).&#160; The loan accrues interest with an annual interest rate of 5%, is unsecured, and is payable on demand.&#160; As at June 30, 2020,
    the Company has a loan receivable of $218,324 (December 31, 2019 - $91,087) of which $216,000 (December 31, 2019 - $91,000) is principal and $2,324 (December 31, 2019 - $87) is interest.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company has granted a loan of $1,000,000 to Newdene Gold Inc. (&#8220;Newdene&#8221;).&#160; The loan accrues interest with an annual interest rate of 6%, and is payable six months following the closing date of
    February 12, 2020.&#160; The loan is secured by a securities pledge agreement in favor of the Company creating a security interest of 2,000,000 common shares in the capital of Flora.&#160; As at June 30, 2020, the Company has a loan receivable of $1,022,849
    (December 31, 2019 - nil) of which $1,000,000 (December 31, 2019 - nil) is principal and $22,849 (December 31, 2019 - nil) is interest.&#160; Subsequent to the period end, the loan was extended for another six months on the same terms.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company has granted a loan of CAD$100,000 ($70,811) to Consultancies and Consultancies of Latam by GM LLC (&#8220;Consultancies&#8221;).&#160; The loan accrues interest with an annual interest rate of 5%, and is
    payable sixty days following the closing date of April 17, 2020.&#160; As at June 30, 2020, the Company has a loan receivable of CAD$100,000 ($73,380) (December 31, 2019 - nil) of which $73,380 (December 31, 2019 - nil) is principal and nil (December 31,
    2019 - nil) is interest.&#160; Subsequent to the period end, the loan was extended for another four months on the same terms.</div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">F-7</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">
    <div style="font-size: 14pt; font-weight: bold;">Flora Growth Corp.</div>
    <div style="font-weight: bold;">Notes to the interim condensed consolidated financial statements</div>
    <div style="font-family: 'Times New Roman',Times,serif; font-weight: normal;">For the six months ended June 30, 2020 and the period from incorporation on March 13, 2019 to June 30, 2019</div>
    <div style="font-family: 'Times New Roman',Times,serif; font-weight: normal;">(expressed in United States dollars)</div>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">5.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">LOANS
      RECEIVABLE AND ADVANCES (CONTINUED)</font></div>
  <div style="text-align: justify; margin-bottom: 8.5pt; font-style: italic; font-weight: bold;">Advances</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">During the six-month period ended June 30, 2020, the Company made the following advances:</div>
  <div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 8.5pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf581e30dc53149b5be675f8d2b0e1e8d" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="margin: 0px 0px 0px 18pt;">&#8226;</div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify;">$55,734 to Flora Beauty LLC (&#8220;Beauty&#8221;);</div>
          </td>
        </tr>

    </table>
  </div>
  <div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 8.5pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze70bf60f966c49d887e2c18f62f99836" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="margin: 0px 0px 0px 18pt;">&#8226;</div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify;">$131,579 to Grupo Farmaceutico Cronomed S.A.S. (&#8220;Cronomed&#8221;)<font style="font-weight: bold;">;</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 8.5pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z15b7df83c9a2489398d903fa9e8e2ffe" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="margin: 0px 0px 0px 18pt; font-weight: bold;">&#8226;</div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify;">$189,484 to Breeze Laboratory S.A.S. (&#8220;Breeze&#8221;)<font style="font-weight: bold;">;</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 8.5pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6b68901ef75e45abba0ccaafcc0fe216" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="margin: 0px 0px 0px 18pt;">&#8226;</div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify;">$24,440 to Kasa.</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">These advances are non-interest bearing, are unsecured, and due on demand.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">6.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">PROPERTY,
      PLANT AND EQUIPMENT</font></div>
  <table id="z1ef083fb4b224722a3505155ad200093" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; text-align: left; color: rgb(0, 0, 0); width: 100%;" cellpadding="0" cellspacing="0">

      <tr>
        <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;Cost</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> Construction in progress</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> Office equipment</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> Vehicle</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> Right of use asset (land)</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> Total</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;As at March 13, 2019</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%;" valign="bottom">
          <div style="text-indent: 10pt; font-family: 'Times New Roman', Times, serif;">Additions</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">99,556</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">715</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">39,903</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">140,174</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%;" valign="bottom">
          <div style="text-indent: 10pt; font-family: 'Times New Roman', Times, serif;">Asset acquisition (Note 7)</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">609</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">288,111</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">288,720</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="text-indent: 10pt; font-family: 'Times New Roman', Times, serif;">Foreign exchange translation</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">3,602</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">249</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">1,444</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">17,537</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
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      <tr>
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          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;Cost as at December 31, 2019</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
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        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">103,158</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
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        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">1,573</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
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        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">41,347</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
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        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">305,648</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
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        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">451,726</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%;" valign="bottom">
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">35,007</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">48,409</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">-</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">-</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">83,416</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
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        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">(13,956</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">(1,549</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">(5,299</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">(39,174</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">(59,978</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
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      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;Cost as at June 30, 2020</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">124,209</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">48,433</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">36,048</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">266,474</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">475,164</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;Accumulated depreciation</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
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      <tr>
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          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;As at March 13, 2019</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">-</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">-</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%;" valign="bottom">
          <div style="text-indent: 10pt; font-family: 'Times New Roman', Times, serif;">Depreciation</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">(1,370</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">(333</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
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          <div style="font-family: 'Times New Roman', Times, serif;">(13,133</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
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          <div style="font-family: 'Times New Roman', Times, serif;">(14,836</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
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      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
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        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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          <div style="font-family: 'Times New Roman', Times, serif;">-</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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          <div style="font-family: 'Times New Roman', Times, serif;">(22</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
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          <div style="font-family: 'Times New Roman', Times, serif;">(12</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">(2,336</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">(2,370</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
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      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;Accumulated depreciation as at December 31, 2019</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
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        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(1,392</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
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        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(345</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(15,469</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(17,206</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
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      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%;" valign="bottom">
          <div style="text-indent: 10pt; font-family: 'Times New Roman', Times, serif;">Depreciation</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">(7,975</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">(1,027</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">(21,147</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">(30,149</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
        </td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="text-indent: 10pt; font-family: 'Times New Roman', Times, serif;">Foreign exchange translation</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">1,447</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">(731</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">)</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">2,009</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">2,725</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
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          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;Accumulated depreciation as at June 30, 2020</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(7,920</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(2,103</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(34,607</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">(44,630</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">)</div>
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      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif;">&#160;&#160;Net book value</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
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      <tr>
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          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; As at December 31, 2019</div>
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        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">103,158</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">181</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">41,002</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">290,179</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">434,520</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;As at June 30, 2020</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">124,209</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">40,513</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">33,945</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">231,867</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">430,534</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
          <div>&#160;</div>
        </td>
      </tr>

  </table>
  <div style="text-align: justify;"> <br>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"> The Company is constructing greenhouses in Colombia, the expenditures for which are recorded as construction in progress which is not currently being depreciated.&#160; Depreciation will commence when
    construction is complete, and the facility is available for its intended use. All of the Company&#8217;s property, plant and equipment is domiciled in Colombia.</div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">F-8</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div style="margin-bottom: 8.5pt;">
    <div style="text-align: justify; font-size: 14pt; font-weight: bold;">Flora Growth Corp.</div>
    <div style="text-align: justify; font-weight: bold;">Notes to the interim condensed consolidated financial statements</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">For the six months ended June 30, 2020 and the period from incorporation on March 13, 2019 to June 30, 2019</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(expressed in United States dollars)</div>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">7.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">ASSET
      ACQUISITION</font></div>
  <div style="text-align: justify; margin-bottom: 8.5pt; font-style: italic;">Acquisition of Cosechemos YA S.A.S (the &#8220;Acquisition&#8221;)</div>
  <div style="text-align: justify;">On July 16, 2019, the Company signed a share purchase agreement with Guillermo Andres Ramirez Martinez, Guillermo Ramirez Cabrales and Oscar Mauricio Franco Ulloa, collectively, the &#8220;Vendors&#8221;, to purchase 90% of
    Cosechemos. Pursuant to the share purchase agreement, Flora acquired 4,500 shares of Cosechemos on October 15, 2019. As consideration for the Cosechemos shares, Flora agreed to (i) pay $80,000 to the Vendors, and (ii) grant the Vendors a 10%
    non-dilutive, free carried interest in Cosechemos, the (&#8220;Free Carry&#8221;). Pursuant to the agreement, Flora is required to pay the Vendors, as a one-time payment, $750,000 within 60 days of Cosechemos earning a net income of $10,000,000. On October 15,
    2019, $80,000 was paid to the Vendors for the purchase of 90% of Cosechemos.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The Free Carry will terminate upon Flora investing an aggregate of $25,000,000 in Cosechemos.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The asset acquisition was recorded at 100% of the fair value of the net assets acquired with 10% attributable to the non-controlling interest.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The allocation of the consideration to the fair value of 100% of the net assets acquired at the date of acquisition is as follows:</div>
  <table id="z2ec33257459b4d43a884bedb8986246a" style="width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="vertical-align: top; width: 88%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-weight: bold;"><br>
          </div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;<br>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td rowspan="1" style="vertical-align: top; width: 88%;" valign="bottom">&#160;</td>
        <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom"><font style="font-weight: bold;">$</font> <br>
        </td>
        <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td style="vertical-align: top; width: 88%;" valign="bottom">
          <div style="text-align: justify;">Current assets</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>233,288</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td style="vertical-align: top; width: 88%;" valign="bottom">
          <div style="text-align: justify;">Property and equipment</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>609</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td style="vertical-align: top; width: 88%;" valign="bottom">
          <div style="text-align: justify;">Right of use asset</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>288,111</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td style="vertical-align: top; width: 88%;" valign="bottom">
          <div style="text-align: justify;">Intangible asset</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>259,019</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td style="vertical-align: top; width: 88%;" valign="bottom">
          <div style="text-align: justify;">Trade and other payables</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>(102,892</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div>)</div>
        </td>
      </tr>
      <tr>
        <td style="vertical-align: top; width: 88%;" valign="bottom">
          <div style="text-align: justify;">Loans payable</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>(299,022</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div>)</div>
        </td>
      </tr>
      <tr>
        <td style="vertical-align: top; width: 88%;" valign="bottom">
          <div style="text-align: justify;">Lease liability</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>(290,224</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div>)</div>
        </td>
      </tr>
      <tr>
        <td style="vertical-align: top; width: 88%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="text-align: justify;">Non-controlling interest</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>(8,889</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
          <div>)</div>
        </td>
      </tr>
      <tr>
        <td style="vertical-align: top; width: 88%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="text-align: justify;">Total consideration paid</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>80,000</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>

  </table>
  <div><br>
  </div>
  <div style="text-align: justify;"><font style="font-weight: bold;">8.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">INTANGIBLE ASSET</font></div>
  <div><br>
  </div>
  <div style="text-align: justify;">A continuity of the intangible assets for the period ended June 30, 2020 is as follows:</div>
  <div style="text-align: justify;"> <br>
  </div>
  <div>
    <table style="width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z8009568c44da40a498faf54187dc3f68" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 43.73%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 17.42%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 15.74%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 23.11%; vertical-align: top; background-color: #FFFFFF;">
            <div style="text-align: right; font-weight: bold;">&#160;$</div>
          </td>
        </tr>
        <tr>
          <td style="width: 43.73%; vertical-align: top; background-color: #FFFFFF;">
            <div>&#160;Balance, March 13, 2019</div>
          </td>
          <td style="width: 17.42%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 15.74%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 23.11%; vertical-align: top; background-color: #FFFFFF;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
          </td>
        </tr>
        <tr>
          <td style="width: 43.73%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 17.42%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 15.74%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 23.11%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.73%; vertical-align: top; background-color: #FFFFFF;">
            <div>&#160;Acquisition of license (Note 9)</div>
          </td>
          <td style="width: 17.42%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 15.74%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 23.11%; vertical-align: top; background-color: #FFFFFF;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;259,019</div>
          </td>
        </tr>
        <tr>
          <td style="width: 43.73%; vertical-align: top; background-color: #FFFFFF;">
            <div>&#160;Amortization</div>
          </td>
          <td style="width: 17.42%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 15.74%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 23.11%; vertical-align: top; background-color: #FFFFFF;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(11,029)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 43.73%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;Foreign currency translation</div>
          </td>
          <td style="width: 17.42%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 15.74%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 23.11%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5</div>
          </td>
        </tr>
        <tr>
          <td style="width: 43.73%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
            <div style="font-weight: bold;">&#160;Balance, December 31, 2019</div>
          </td>
          <td style="width: 17.42%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">&#160;</td>
          <td style="width: 15.74%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">&#160;</td>
          <td style="width: 23.11%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;247,995</div>
          </td>
        </tr>
        <tr>
          <td style="width: 43.73%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 17.42%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 15.74%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 23.11%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 43.73%; vertical-align: top; background-color: #FFFFFF;">
            <div style="font-weight: bold;">&#160;Amortization</div>
          </td>
          <td style="width: 17.42%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 15.74%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 23.11%; vertical-align: top; background-color: #FFFFFF;">
            <div style="text-align: right; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(26,468)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 43.73%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">&#160;Foreign currency translation</div>
          </td>
          <td style="width: 17.42%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 15.74%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 23.11%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(217)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 43.73%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
            <div style="font-weight: bold;">&#160;Balance, June 30, 2020</div>
          </td>
          <td style="width: 17.42%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">&#160;</td>
          <td style="width: 15.74%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">&#160;</td>
          <td style="width: 23.11%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
            <div style="text-align: right; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;221,310</div>
          </td>
        </tr>

    </table>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify;">The Company&#8217;s license is for the production of non-psychoactive cannabis products on its property located in Colombia. See Note 10.</div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">F-9</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div>
    <div style="text-align: justify; font-size: 14pt; font-weight: bold;">Flora Growth Corp.</div>
    <div style="text-align: justify; font-weight: bold;">Notes to the interim condensed consolidated financial statements</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">For the six months ended June 30, 2020 and the period from incorporation on March 13, 2019 to June 30, 2019</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(expressed in United States dollars)</div>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">9.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">LOANS
      PAYABLE</font></div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company entered into a loan agreement with QuestCap Inc. (formerly Copper One Inc.) for an amount up to $500,000 of which $497,514 of principal was drawn down prior repayment (December 31, 2019
    - $497,514). The loan was a United States dollar loan which bore interest at 10% annually, was unsecured, and was payable on demand. As at December 31, 2019, the interest payable on the loan was $15,784. Stan Bharti and Deborah Battiston are the
    Chairman and Chief Financial Officer, respectively, of the Company and of QuestCap. These funds were sent to provide support to Cosechemos and to provide working capital for the Company. On January 31, 2020, the loan was repaid in the amount of
    $521,341; $497,514 to principal and $23,827 to interest.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company entered into a loan agreement with Sulliden Mining Capital Inc. for an amount up to $525,000 of which $501,941 of principal was drawn down prior to repayment (December 31, 2019 -
    $495,613). The loan was a United States dollar loan which bore interest at 12% annually, was unsecured, and was due on March 31, 2020. As at December 31, 2019, the interest payable on the loan was $3,681. Stan Bharti and Deborah Battiston are the
    Chairman and Chief Financial Officer, respectively, of the Company and Interim Chief Executive Officer and Chief Financial Officer, respectively of Sulliden Mining. These funds were sent to provide support to Cosechemos and to provide working capital
    for the Company. On January 31, 2020, the loan was repaid in the amount of $510,557; $501,941 to principal and $8,616 to interest.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company entered into a loan agreement with Q Gold Resources Ltd. for an amount of $16,667. The loan bore interest at 10% annually, was unsecured, and was payable on demand. As at December 31,
    2019, the interest payable on the loan was $895. Deborah Battiston is the Chief Financial Officer and Fred Leigh is a director of the Company. Deborah Battiston is the Chief Financial Officer and Fred Leigh is the Chief Executive Officer and a&#160;
    director of Q Gold. These funds were sent to provide support to Cosechemos and to provide working capital for the Company. On March 6, 2020, the loan was repaid in the amount of $17,637; $16,667 to principal and $970 to interest.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">10.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">LEASE
      LIABILITY</font></div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">The Company entered into a land lease for 361 hectares of property in the municipality of Giron, in Santander, Colombia. The land is subject to a 6-year lease and is recorded as a right of use asset
    in property, plant and equipment.&#160; The discount rate used to calculate the lease liability is 5.2%.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">A continuity of lease liability for the period ended June 30, 2020 is as follows:</div>
  <table style="width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="zdd59c543f0194ab0a7c15d517ef3905b" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 81.6%; vertical-align: top; border-bottom: #000000 2px solid;">
          <div style="text-align: justify; font-weight: bold;">As at December 31, 2019</div>
        </td>
        <td style="width: 18.4%; vertical-align: top; border-bottom: #000000 2px solid;">
          <div style="text-align: right; font-weight: bold;">$298,573</div>
        </td>
      </tr>
      <tr>
        <td style="width: 81.6%; vertical-align: top;">
          <div style="text-align: justify;">Lease payments</div>
        </td>
        <td style="width: 18.4%; vertical-align: top;">
          <div style="text-align: right;">(27,094)</div>
        </td>
      </tr>
      <tr>
        <td style="width: 81.6%; vertical-align: top;">
          <div style="text-align: justify;">Interest expense on lease liability</div>
        </td>
        <td style="width: 18.4%; vertical-align: top;">
          <div style="text-align: right;">6,563</div>
        </td>
      </tr>
      <tr>
        <td style="width: 81.6%; vertical-align: top; border-bottom: #000000 2px solid;">
          <div style="text-align: justify;">Foreign currency translation</div>
        </td>
        <td style="width: 18.4%; vertical-align: top; border-bottom: #000000 2px solid;">
          <div style="text-align: right;">(37,896)</div>
        </td>
      </tr>
      <tr>
        <td style="width: 81.6%; vertical-align: top; border-bottom: #000000 2px solid;">
          <div style="text-align: justify; font-weight: bold;">As at June 30, 2020</div>
        </td>
        <td style="width: 18.4%; vertical-align: top; border-bottom: #000000 2px solid;">
          <div style="text-align: right; font-weight: bold;">$240,146</div>
        </td>
      </tr>

  </table>
  <div style="text-align: justify;"> <br>
  </div>
  <div style="text-align: justify;">The maturity analysis of the undiscounted contractual balances of the lease liability is as follows:</div>
  <div><br>
  </div>
  <table style="width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z9fc9531f3213434da441e5f1584ac91a" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 88.64%; vertical-align: top;">
          <div style="text-align: justify;">Less than one year</div>
        </td>
        <td style="width: 11.36%; vertical-align: top;">
          <div style="text-align: right;">$&#160; 63,920</div>
        </td>
      </tr>
      <tr>
        <td style="width: 88.64%; vertical-align: top; border-bottom: #000000 2px solid;">
          <div style="text-align: justify;">One to five years</div>
          <div style="text-align: justify;">Potential exposure on extension option (over 5 years) (i)</div>
        </td>
        <td style="width: 11.36%; vertical-align: top; border-bottom: #000000 2px solid;">
          <div style="text-align: right;">202,870</div>
          <div style="text-align: right;">320,322</div>
        </td>
      </tr>
      <tr>
        <td style="width: 88.64%; vertical-align: top; border-bottom: #000000 2px solid;">&#160;</td>
        <td style="width: 11.36%; vertical-align: top; border-bottom: #000000 2px solid;">
          <div style="text-align: right; font-weight: bold;">$587,112</div>
        </td>
      </tr>

  </table>
  <div style="text-align: justify; margin-bottom: 8.5pt;">(i) There is an option to extend the lease in the event that neither the lessee nor the lessor terminates the lease, for an additional five years.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">11.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">CAPITAL
      STOCK</font></div>
  <div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd111b95640ec4fcaad5094ae3d9b2f4f" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="font-weight: bold;">a.</div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">Authorized</div>
          </td>
        </tr>

    </table>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify; margin-left: 36pt;">Unlimited number of common shares, without par value</div>
  <div><br>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">F-10</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div>
    <div style="text-align: justify; font-size: 14pt; font-weight: bold;">Flora Growth Corp.</div>
    <div style="text-align: justify; font-weight: bold;">Notes to the interim condensed consolidated financial statements</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">For the six months ended June 30, 2020 and the period from incorporation on March 13, 2019 to June 30, 2019</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(expressed in United States dollars)</div>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">11.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">CAPITAL
      STOCK (CONTINUED)</font></div>
  <div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0cef9057758f400fa4ab79735d28cce5" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="font-weight: bold;">b.</div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; font-weight: bold;">Common shares issued</div>
          </td>
        </tr>

    </table>
  </div>
  <table id="zddd0d873bb95497e94190460ca7bf0cf" style="width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>&#160;</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="text-align: center; font-weight: bold;"> Number of shares</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="text-align: center; font-weight: bold;"> Stated value $</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td style="vertical-align: bottom; width: 76%;" valign="bottom">
          <div>Balance, March 13, 2019</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div>$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>Bonus shares</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>70,000,000</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>1,400,000</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>Balance, June 30, 2019 and December 31, 2019</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>70,000,000</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>1,400,000</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 76%;" valign="bottom">
          <div style="font-weight: bold;">Regulation A Offering</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>17,170,100</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>10,984,300</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 76%;" valign="bottom">
          <div style="font-weight: bold;">Share issuance costs</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>(1,365,276</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
          <div>)</div>
        </td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-weight: bold;">Stock options exercised</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>600,000</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>37,360</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-weight: bold;">Balance, June 30, 2020</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-weight: bold;">87,770,100</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-weight: bold;">$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-weight: bold;">11,056,384</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>

  </table>
  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">On June 27, 2019, the Company granted bonuses of $1,400,000 to consultants, directors and officers of the Company. The bonuses were settled by the issuance of 70,000,000 common shares at a price of
    $0.02 per share for a value of $1,400,000 based on the value of services agreed upon by the consultants, directors, officers and the Company. Of the 70,000,000 common shares issued, a total of 14,950,000 common shares with a value of $299,000 were
    granted to the directors and officers of the Company (See Note 14).</div>
  <div style="font-weight: bold;">REGULATION A OFFERING</div>
  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">During the six months ended June 30, 2020, the Company announced an offering up to 40,000,000 (the &#8220;Maximum Offering&#8221;) units (the &#8220;Units&#8221;) of the Company to be sold in a Regulation A offering
    circular under the Securities Act of 1933 (the &#8220;Offering&#8221;). Each Unit is comprised of one common share in the capital of the Company, with no par value per share (a &#8220;Common Share&#8221;), and one-half of one Common Share purchase warrant (each whole warrant,
    a &#8220;Warrant&#8221;) to purchase one additional Common Share (a &#8220;Warrant Share&#8221;) at an exercise price of $1.00 per Warrant Share, subject to certain adjustments, over an 18-month exercise period following the date of issuance of the Warrant. The Units are
    being offered at a purchase price of $0.75 per Unit. Flora is selling the Units through a Tier 2 offering pursuant to Regulation A (Regulation A+) under the Securities Act of 1933. There is no assurance the Maximum Offering will be completed. During
    the six months ended June 30, 2020, the Company has issued 17,170,100 units of the Company at a price of $0.75 per unit.&#160; In connection with the closing, the Company has paid unit issuance costs of $1,601,184 in cash.&#160; The issue date fair value of the
    warrants was estimated at $1,893,275 using the Black Scholes option pricing model with the following weighted average assumptions: expected dividend yield of 0%; expected volatility of 100% based comparable companies; risk-free interest rate of 0.96%
    and an expected life of 1.5 years.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">On March 9, 2020, 600,000 stock options were exercised for gross proceeds of $30,000.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">12.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">OPTIONS</font></div>
  <div style="text-align: justify;">The Company has a stock option plan whereby it may grant options for the purchase of common shares to any director, consultant, employee or officer of the Company or its subsidiaries. The aggregate number of shares that
    may be issuable pursuant to options granted under the Company&#8217;s stock option plan will not exceed 10% of the issued common shares of the Company (the &#8220;Shares&#8221;) at the date of grant. The options are non-transferable and non-assignable and may be granted
    for a term not exceeding five years. The exercise price of the options will be determined by the board at the time of grant, but in the event that the Shares are traded on any stock exchange (the &#8220;Exchange&#8221;), may not be less than the closing price of
    the Shares on the Exchange on the trading date immediately preceding the date of grant, subject to all applicable regulatory requirements.</div>
  <div><br>
  </div>
  <div>Information relating to share options outstanding and exercisable as at June 30, 2020 and December 31, 2019 is as follows:</div>
  <div><br>
  </div>
  <table style="width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="zb6147eae543a4acb937f4aed804579e2" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 53.58%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div>&#160;</div>
        </td>
        <td style="width: 24.99%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right; font-weight: bold;">Number of options</div>
        </td>
        <td style="width: 21.43%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right; font-weight: bold;">Weighted average exercise price</div>
        </td>
      </tr>
      <tr>
        <td style="width: 53.58%; vertical-align: top; background-color: #FFFFFF;">
          <div>Balance, March 13, 2019</div>
        </td>
        <td style="width: 24.99%; vertical-align: top; background-color: #FFFFFF;">
          <div style="text-align: right; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
        </td>
        <td style="width: 21.43%; vertical-align: top; background-color: #FFFFFF;">
          <div style="text-align: right; font-weight: bold;">$&#160; &#160; &#160; &#160; &#160; &#160;&#160; -</div>
        </td>
      </tr>
      <tr>
        <td style="width: 53.58%; vertical-align: top; background-color: #FFFFFF;">
          <div>Granted</div>
        </td>
        <td style="width: 24.99%; vertical-align: bottom;">
          <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;7,000,000</div>
        </td>
        <td style="width: 21.43%; vertical-align: bottom;">
          <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0.05</div>
        </td>
      </tr>
      <tr>
        <td style="width: 53.58%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 24.99%; vertical-align: top; background-color: #FFFFFF;">
          <div style="text-align: right; font-weight: bold;">&#160;</div>
        </td>
        <td style="width: 21.43%; vertical-align: top; background-color: #FFFFFF;">
          <div style="text-align: right; font-weight: bold;">&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 53.58%; vertical-align: top; background-color: #FFFFFF;">
          <div style="font-weight: bold;">Balance, June 30, 2019 and December 31, 2019</div>
        </td>
        <td style="width: 24.99%; vertical-align: top; background-color: #FFFFFF;">
          <div style="text-align: right; font-weight: bold;">&#160;&#160;&#160;7,000,000</div>
        </td>
        <td style="width: 21.43%; vertical-align: top; background-color: #FFFFFF;">
          <div style="text-align: right; font-weight: bold;">&#160;$&#160; &#160; &#160;&#160; 0.05</div>
        </td>
      </tr>
      <tr>
        <td style="width: 53.58%; vertical-align: top; background-color: #FFFFFF;">
          <div style="font-weight: bold;">Granted</div>
        </td>
        <td style="width: 24.99%; vertical-align: top; background-color: #FFFFFF;">
          <div style="text-align: right; font-weight: bold;">750,000</div>
        </td>
        <td style="width: 21.43%; vertical-align: top; background-color: #FFFFFF;">
          <div style="text-align: right; font-weight: bold;">0.75</div>
        </td>
      </tr>
      <tr>
        <td style="width: 53.58%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">Exercised</div>
        </td>
        <td style="width: 24.99%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right; font-weight: bold;">(600,000)</div>
        </td>
        <td style="width: 21.43%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right; font-weight: bold;">0.05</div>
        </td>
      </tr>
      <tr>
        <td style="width: 53.58%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">Balance, June 30, 2020</div>
        </td>
        <td style="width: 24.99%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right; font-weight: bold;">7,150,000</div>
        </td>
        <td style="width: 21.43%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right; font-weight: bold;">$&#160; &#160; &#160;&#160; 0.12</div>
        </td>
      </tr>

  </table>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;"> <br>
    </font></div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">F-11</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <font style="font-weight: bold;"> </font>
  <div style="text-align: justify; font-size: 14pt; font-weight: bold;">Flora Growth Corp.</div>
  <div style="text-align: justify; font-weight: bold;">Notes to the interim condensed consolidated financial statements</div>
  <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">For the six months ended June 30, 2020 and the period from incorporation on March 13, 2019 to June 30, 2019</div>
  <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(expressed in United States dollars)</div>
  <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;"> <br>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">12.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">OPTIONS
      (CONTINUED)</font></div>
  <table style="width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="zf8a8922da52a4e6c9b5a8866501609f9" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 20.22%; vertical-align: bottom;">
          <div style="text-align: center; font-weight: bold;">Date of<br>
          </div>
        </td>
        <td style="width: 15.78%; vertical-align: bottom;">
          <div style="text-align: center; font-weight: bold;">&#160;Options</div>
        </td>
        <td style="width: 15.78%; vertical-align: bottom;">
          <div style="text-align: center; font-weight: bold;">&#160;Options</div>
        </td>
        <td style="width: 9.91%; vertical-align: bottom;">
          <div style="text-align: center; font-weight: bold;">Exercise</div>
        </td>
        <td style="width: 21.06%; vertical-align: bottom;">
          <div style="text-align: center; font-weight: bold;">&#160;Grant date</div>
        </td>
        <td style="width: 17.26%; vertical-align: bottom;">
          <div style="text-align: center; font-weight: bold;">&#160;Remaining life</div>
        </td>
      </tr>
      <tr>
        <td style="width: 20.22%; vertical-align: bottom; border-bottom: #000000 2px solid;">
          <div style="text-align: center; font-weight: bold;">expiry</div>
        </td>
        <td style="width: 15.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
          <div style="text-align: center; font-weight: bold;">&#160;outstanding</div>
        </td>
        <td style="width: 15.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
          <div style="text-align: center; font-weight: bold;">&#160;exercisable</div>
        </td>
        <td style="width: 9.91%; vertical-align: bottom; border-bottom: #000000 2px solid;">
          <div style="text-align: center; font-weight: bold;">price</div>
        </td>
        <td style="width: 21.06%; vertical-align: bottom; border-bottom: #000000 2px solid;">
          <div style="text-align: center; font-weight: bold;">&#160;fair value</div>
        </td>
        <td style="width: 17.26%; vertical-align: bottom; border-bottom: #000000 2px solid;">
          <div style="text-align: center; font-weight: bold;">&#160;in years</div>
        </td>
      </tr>
      <tr>
        <td style="width: 20.22%; vertical-align: bottom;">&#160;</td>
        <td style="width: 15.78%; vertical-align: bottom;">&#160;</td>
        <td style="width: 15.78%; vertical-align: bottom;">&#160;</td>
        <td style="width: 9.91%; vertical-align: bottom;">&#160;</td>
        <td style="width: 21.06%; vertical-align: bottom;">&#160;</td>
        <td style="width: 17.26%; vertical-align: bottom;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 20.22%; vertical-align: bottom;">
          <div style="text-align: center;">June 28, 2024</div>
        </td>
        <td style="width: 15.78%; vertical-align: bottom; text-align: right;">
          <div style="font-family: 'Times New Roman',Times,serif;">6,400,000</div>
        </td>
        <td style="width: 15.78%; vertical-align: bottom; text-align: right;">
          <div style="font-family: 'Times New Roman',Times,serif;">6,400,000</div>
        </td>
        <td style="width: 9.91%; vertical-align: bottom;">
          <div style="text-align: center;">$0.05</div>
        </td>
        <td style="width: 21.06%; vertical-align: bottom; text-align: right;">
          <div style="font-family: 'Times New Roman',Times,serif;">$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 78,510</div>
        </td>
        <td style="width: 17.26%; vertical-align: bottom;">
          <div style="text-align: center;">4.00</div>
        </td>
      </tr>
      <tr>
        <td style="width: 20.22%; vertical-align: bottom;">
          <div style="text-align: center;">April 23,2025</div>
        </td>
        <td style="width: 15.78%; vertical-align: bottom; text-align: right;">
          <div style="font-family: 'Times New Roman',Times,serif;">750,000</div>
        </td>
        <td style="width: 15.78%; vertical-align: bottom; text-align: right;">
          <div style="font-family: 'Times New Roman',Times,serif;">750,000</div>
        </td>
        <td style="width: 9.91%; vertical-align: bottom;">
          <div style="text-align: center;">$0.75</div>
        </td>
        <td style="width: 21.06%; vertical-align: bottom; text-align: right;">
          <div style="font-family: 'Times New Roman',Times,serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;344,406</div>
        </td>
        <td style="width: 17.26%; vertical-align: bottom;">
          <div style="text-align: center;">4.82</div>
        </td>
      </tr>
      <tr>
        <td style="width: 20.22%; vertical-align: bottom; border-bottom: #000000 2px solid;">&#160;</td>
        <td style="width: 15.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: right;">
          <div style="font-family: 'Times New Roman',Times,serif;">7,150,000</div>
        </td>
        <td style="width: 15.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: right;">
          <div style="font-family: 'Times New Roman',Times,serif;">7,150,000</div>
        </td>
        <td style="width: 9.91%; vertical-align: bottom; border-bottom: #000000 2px solid;">
          <div style="text-align: center;">$0.12</div>
        </td>
        <td style="width: 21.06%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: right;">
          <div style="font-family: 'Times New Roman',Times,serif;">$&#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; 422,916</div>
        </td>
        <td style="width: 17.26%; vertical-align: bottom; border-bottom: #000000 2px solid;">
          <div style="text-align: center;">4.08</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">On June 28, 2019, the Company granted 7,000,000 options to directors, officers and consultants of the Company with an exercise price of $0.05 per common share. The options vested immediately. The
    fair market value of the options was estimated to be $85,870 using the Black Scholes option pricing model based on the following assumptions: risk&#8209;free rate of 1.39%, estimated current stock price of $0.02, expected volatility of 100% based on
    comparable companies, an estimated life of 5 years and an expected dividend yield of 0%. Of the 7,000,000 options granted, 3,800,000 options with a value of $46,615 were granted to the directors and officers of the Company (See Note 14).</div>
  <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt;">On April 23, 2020, the Company granted 750,000 options to officers, employees and consultants of the Company with an exercise price of $0.75 per common share. The options vested
    immediately. The fair market value of the options was estimated to be $344,406 using the Black Scholes option pricing model based on the following assumptions: risk&#8209;free rate of 0.45%, estimated current stock price of $0.64, expected volatility of 100%
    based on comparable companies, an estimated life of 5 years and an expected dividend yield of 0%.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">13.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">WARRANTS</font></div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">On March 15, 2019, the Company granted 7,000,000 founder warrants of the Company with an exercise price of $0.05 per common share. The fair market value of the warrants was estimated to be $Nil
    using the Black Scholes option pricing model based on the following assumptions: risk&#8209;free rate of 1.63%, estimated current stock price of $Nil, expected volatility of 100%, based on comparable companies, an estimated life of 3 years and an expected
    dividend yield of 0%. A total of 7,000,000 warrants with a value of $Nil were granted to the directors and officers of the Company (See Note 14).</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">See Note 11(b) for warrants issued under Regulation A offering.</div>
  <table style="width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z9063a77d53c4436f8d3d7e2093cd637e" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 50.72%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">&#160;</div>
        </td>
        <td style="width: 20.83%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: center; font-weight: bold;">Number of warrants</div>
        </td>
        <td style="width: 28.45%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: center; font-weight: bold;">Weighted average exercise price</div>
        </td>
      </tr>
      <tr>
        <td style="width: 50.72%; vertical-align: top; background-color: #FFFFFF;">
          <div style="font-weight: bold;">Balance, March 13, 2019</div>
        </td>
        <td style="width: 20.83%; vertical-align: top; background-color: #FFFFFF;">
          <div style="text-align: center; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
        </td>
        <td style="width: 28.45%; vertical-align: top; background-color: #FFFFFF;">
          <div style="text-align: center; font-weight: bold;">&#160;$&#160; &#160; &#160; &#160;&#160; -</div>
        </td>
      </tr>
      <tr>
        <td style="width: 50.72%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div>Granted</div>
        </td>
        <td style="width: 20.83%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: center;">&#160;&#160;&#160;&#160;7,000,000</div>
        </td>
        <td style="width: 28.45%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: center;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0.05</div>
        </td>
      </tr>
      <tr>
        <td style="width: 50.72%; vertical-align: top; background-color: #FFFFFF;">
          <div style="font-weight: bold;">Balance, June 30, 2019 and December 31, 2019</div>
        </td>
        <td style="width: 20.83%; vertical-align: top; background-color: #FFFFFF;">
          <div style="text-align: center; font-weight: bold;">&#160;&#160;&#160;&#160;7,000,000</div>
        </td>
        <td style="width: 28.45%; vertical-align: top; background-color: #FFFFFF;">
          <div style="text-align: center; font-weight: bold;">&#160;$&#160; &#160;&#160; 0.05</div>
        </td>
      </tr>
      <tr>
        <td style="width: 50.72%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div>Granted (Note 11(b))</div>
        </td>
        <td style="width: 20.83%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: center; font-weight: bold;">&#160;&#160;&#160;&#160;8,585,050</div>
        </td>
        <td style="width: 28.45%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: center; font-weight: bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
        </td>
      </tr>
      <tr>
        <td style="width: 50.72%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">Balance, June 30, 2020</div>
        </td>
        <td style="width: 20.83%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: center; font-weight: bold;">&#160;&#160;15,585,050</div>
        </td>
        <td style="width: 28.45%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: center; font-weight: bold;">&#160;$&#160; &#160; 0.57</div>
        </td>
      </tr>

  </table>
  <div style="margin-bottom: 8.5pt;"><br>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">F-12</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div style="margin-bottom: 8.5pt;">
    <div style="text-align: justify; font-size: 14pt; font-weight: bold;">Flora Growth Corp.</div>
    <div style="text-align: justify; font-weight: bold;">Notes to the interim condensed consolidated financial statements</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">For the six months ended June 30, 2020 and the period from incorporation on March 13, 2019 to June 30, 2019</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(expressed in United States dollars)</div>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">13.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">WARRANTS
      (CONTINUED)</font></div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">The following table shows all warrants outstanding as at June 30, 2020:</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;">
    <table style="width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z0fa3334646fb44248e7d7b5629288ffd" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 27.62%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Date of expiry</div>
          </td>
          <td style="width: 18.24%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold; text-align: center;">&#160;Warrants outstanding</td>
          <td style="width: 14.93%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold; text-align: center;">&#160;Exercise price</td>
          <td style="width: 20.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold; text-align: center;">&#160;Grant date fair value</td>
          <td style="width: 18.91%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold; text-align: center;">&#160;Remaining life in years</td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">&#160;</td>
          <td style="width: 18.24%; vertical-align: top;">&#160;</td>
          <td style="width: 14.93%; vertical-align: top;">&#160;</td>
          <td style="width: 20.3%; vertical-align: top;">&#160;</td>
          <td style="width: 18.91%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">March 15, 2022</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7,000,000</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; 0.05</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; -</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.71</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">July 23, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,232,600</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;272,397</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.06</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">July 28, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,155,050</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;255,259</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.08</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">August 3, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;216,400</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;47,823</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.09</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">August 5, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;428,200</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;94,629</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.10</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">August 7, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;92,800</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;20,508</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.10</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">August 11, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;660,000</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;145,856</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.12</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">August 14, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;304,000</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;67,182</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.12</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">August 19, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;213,600</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;47,204</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.14</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">August 24, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;560,000</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;123,756</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.15</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">August 26, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;381,600</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;84,331</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.16</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">September 3, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;265,400</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,652</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.18</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">September 5, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;112,000</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;24,751</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.18</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">September 9, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;25,600</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,657</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.19</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">September 10, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;56,400</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;12,464</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.20</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">September 11, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;68,200</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;15,072</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.20</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">September 16, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,800</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;12,994</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.21</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">September 18, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;59,200</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;13,083</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.22</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">September 20, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;226,400</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;50,033</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.22</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">September 23, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;69,200</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;15,293</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.23</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">September 24, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;18,800</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4,155</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.24</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">September 30, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;111,400</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;24,619</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.25</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">October 2, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;60,400</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;13,242</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.26</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">October 6, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;43,200</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9,471</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.27</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">October 7, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;35,800</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;7,849</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.27</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">October 14, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;83,400</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;18,285</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.29</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">October 20, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;220,200</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;48,278</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.31</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">October 27, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;225,000</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;49,330</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.33</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">November 1, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;184,600</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;40,473</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.34</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">November 12, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;158,000</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;34,641</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.37</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">November 15, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;247,600</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;54,285</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.38</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">November 22, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;154,400</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;33,852</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.40</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">December 1, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;172,800</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;37,886</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.42</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">December 3, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;140,800</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;30,870</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.43</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">December 10, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;166,000</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;36,395</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.45</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">December 16, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;160,200</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;35,123</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.46</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">
            <div style="text-align: right;">December 24, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;165,800</div>
          </td>
          <td style="width: 14.93%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;36,351</div>
          </td>
          <td style="width: 18.91%; vertical-align: top;">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.48</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">December 29, 2021</div>
          </td>
          <td style="width: 18.24%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;51,200</div>
          </td>
          <td style="width: 14.93%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.00</div>
          </td>
          <td style="width: 20.3%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;11,225</div>
          </td>
          <td style="width: 18.91%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.50</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top;">&#160;</td>
          <td style="width: 18.24%; vertical-align: top;">&#160;</td>
          <td style="width: 14.93%; vertical-align: top;">&#160;</td>
          <td style="width: 20.3%; vertical-align: top;">&#160;</td>
          <td style="width: 18.91%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27.62%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 18.24%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;15,585,050</div>
          </td>
          <td style="width: 14.93%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; 0.57</div>
          </td>
          <td style="width: 20.3%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; 1,893,275</div>
          </td>
          <td style="width: 18.91%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.42</div>
          </td>
        </tr>

    </table>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">F-13</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div>
    <div style="text-align: justify; font-size: 14pt; font-weight: bold;">Flora Growth Corp.</div>
    <div style="text-align: justify; font-weight: bold;">Notes to the interim condensed consolidated financial statements</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">For the six months ended June 30, 2020 and the period from incorporation on March 13, 2019 to June 30, 2019</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(expressed in United States dollars)</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;"> <br>
    </div>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">14.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">RELATED
      PARTY DISCLOSURES</font></div>
  <div style="text-align: justify; font-weight: bold;">Key management personnel compensation</div>
  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><a name="z_MON_1454866087"></a><a name="z_MON_1454866096"></a><a name="z_MON_1454866163"></a><a name="z_MON_1433050709"></a><a name="z_MON_1439977774"></a><a name="z_MON_1433050769"></a><a name="z_MON_1433050779"></a><a name="z_MON_1433051124"></a><a name="z_MON_1433050924"></a><a name="z_MON_1439977823"></a><a name="z_MON_1443009985"></a><a name="z_MON_1443010143"></a><a name="z_MON_1443010339"></a><a name="z_MON_1443010253"></a><a name="z_MON_1439979680"></a><a name="z_MON_1442752291"></a><a name="z_MON_1442752350"></a><a name="z_MON_1439979704"></a><a name="z_MON_1442834948"></a><a name="z_MON_1442840561"></a><a name="z_MON_1433052439"></a><a name="z_MON_1442904695"></a><a name="z_MON_1433052473"></a><a name="z_MON_1433052526"></a><a name="z_MON_1440402680"></a><a name="z_MON_1440402695"></a>In addition to their contracted fees, directors and officers also participate in the Company&#8217;s stock option program. Certain
    executive officers are subject to termination notices of twenty-four months to thirty-six months and change of control contingent provisions (Note 15). Key management personnel compensation is comprised of the following, see Notes 11(b), 12, 13.</div>
  <table id="zc1514d0545be40d694754f14cfcbef86" style="width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div><a name="z_MON_1456577407"></a><a name="z_MON_1456577421"></a><a name="z_MON_1456577426"></a><a name="z_MON_1456577442"></a><a name="z_MON_1445860715"></a><a name="z_MON_1445421705"></a><a name="z_MON_1438598519"></a><a name="z_MON_1458043321"></a><a name="z_MON_1430050122"></a><a name="z_MON_1456571560"></a><a name="z_MON_1445860670"></a><a name="z_MON_1456577316"></a><a name="z_MON_1456577365"></a>&#160;</div>
        </td>
        <td colspan="1" style="text-align: center; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: &#38;quot; font-weight: bold;">Three months ended June 30, 2020</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="text-align: center; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: &#38;quot; font-weight: bold;">Three months ended June 30, 2019</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="text-align: center; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: &#38;quot; font-weight: bold;">Six months </div>
          <div style="font-family: &#38;quot; font-weight: bold;">ended June 30, 2020</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="text-align: center; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="2" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div style="font-family: &#38;quot; font-weight: bold;">Period from incorporation on March 13, 2019 to June 30, 2019</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 52%;" valign="bottom">
          <div>Directors &amp; officers&#8217; compensation</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div>$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>81,347</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div>$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>80,231</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div>$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>157,638</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
          <div>$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
          <div>95,759</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td colspan="1" style="vertical-align: bottom; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>Share-based payments</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>345,615</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>-</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>345,615</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>
      <tr>
        <td style="vertical-align: bottom; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>&#160;</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>81,347</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>425,846</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>157,638</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>$</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
          <div>441,374</div>
        </td>
        <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
      </tr>

  </table>
  <div><br>
  </div>
  <div style="text-align: justify;">As at June 30, 2020, nil of the above directors&#8217; and officers&#8217; compensation was included in the trade payables and accrued liabilities (December 31, 2019 - $557,165). These amounts are unsecured, non-interest bearing and
    due on demand.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">During the six months period ended June 30, 2020, the Company incurred expenses for consulting, rent and promotion services in the amount of $65,988 (period from March 13, 2019 to June 30, 2019 - $43,105) from 2227929
    Ontario Inc.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">During the three months period ended June 30, 2020, the Company incurred expenses for consulting, rent and promotion services in the amount of $33,493 from 2227929 Ontario Inc.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">During the three months period ended June 30, 2020, the Company incurred expenses for consulting, rent and promotion services in the amount of $33,493 (June 30, 2019 - $41,039) from 2227929 Ontario Inc.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">As at June 30, 2020, nil (December 31, 2019 - $143,710) was owing to 2227929 Ontario Inc. and nil (December 31, 2019 - $119,758) was owing to Forbes and Manhattan and was included in trade payables and accrued
    liabilities, and are unsecured, non-interest bearing and due on demand.&#160; Fred Leigh is a director of the Company and is also a director and officer of 2227929 Ontario Inc. Stan Bharti is a director of the Company and is also a director of Forbes and
    Manhattan.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">See Note 9 for loans payable to related parties.</div>
  <div><br>
  </div>
  <div><font style="font-weight: bold;">15.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">COMMITMENTS AND CONTINGENCIES</font></div>
  <div><br>
  </div>
  <div style="font-weight: bold;">Management contracts</div>
  <div><br>
  </div>
  <div style="text-align: justify;"><a name="z_Hlk493585341"></a>The Company is party to certain management contracts. Currently, these contracts require payments of CAD$2,232,000 (approximately $1,638,000 USD) to be made upon the occurrence of a change in
    control to the officers of the Company. The Company is also committed to payments upon termination of approximately CAD$1,639,000 (approximately $1,203,000 USD) pursuant to the terms of these contracts. As a triggering event has not taken place, these
    amounts have not been recorded in these interim condensed consolidated financial statements.</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-weight: bold;">Shared services and space commitment</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The Company has an agreement to share general and administrative, promotion, corporate development, consulting services, and office space with other companies at a cost of CAD$15,000 per month, with a minimum commitment
    of CAD$45,000. This agreement may be terminated by either party giving at least 90 days&#8217; prior written notice (or such shorter period as the parties may mutually agree upon) to the other party of termination. These services are provided by 2227929
    Ontario Inc. (Note 14).</div>
  <div><br>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">F-14</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div>
    <div style="text-align: justify; font-size: 14pt; font-weight: bold;">Flora Growth Corp.</div>
    <div style="text-align: justify; font-weight: bold;">Notes to the interim condensed consolidated financial statements</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">For the six months ended June 30, 2020 and the period from incorporation on March 13, 2019 to June 30, 2019</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(expressed in United States dollars)</div>
  </div>
  <div><br>
  </div>
  <div><font style="font-weight: bold;">16.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">LOSS PER SHARE</font></div>
  <div><br>
  </div>
  <div style="text-align: justify;">The following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive:</div>
  <div><br>
  </div>
  <table style="width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="zffa83157d35b4664b686c629f4bb7d42" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 54.16%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">June 30, 2020</div>
        </td>
        <td style="width: 45.84%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 54.16%; vertical-align: bottom; background-color: #FFFFFF;">
          <div>&#160;&#160;Stock options (Note 12)</div>
        </td>
        <td style="width: 45.84%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">7,150,000</div>
        </td>
      </tr>
      <tr>
        <td style="width: 54.16%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
          <div>&#160;&#160;Warrants (Note 13)</div>
        </td>
        <td style="width: 45.84%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="text-align: right;">15,585,050</div>
        </td>
      </tr>
      <tr>
        <td style="width: 54.16%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">&#160;</td>
        <td style="width: 45.84%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right;">22,735,050</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">17.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">FINANCIAL
      INSTRUMENTS AND RISK MANAGEMENT</font></div>
  <div style="text-align: justify; font-weight: bold;">Environmental</div>
  <div><br>
  </div>
  <div style="text-align: justify;"><a name="z_Hlk18059248"></a><a name="z_Hlk493585394"></a>The Company&#8217;s growth and development activities are subject to laws and regulations governing the protection of the environment. These laws and regulations are
    continually changing and generally becoming more restrictive. The Company believes its operations are materially in compliance with all applicable laws and regulations. The Company has made, and expects to make in the future, expenditures to comply
    with such laws and regulations.</div>
  <div><br>
  </div>
  <div style="font-weight: bold;">Fair value</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The Company&#8217;s financial instruments measured at amortized cost as at June 30, 2020 and December 31, 2019, consist of <a name="z_Hlk18061292"></a>cash and restricted cash, amounts receivable, loans receivable, advances,
    trade payables and accrued liabilities, and loans payable. The amounts reflected in the interim condensed consolidated statements of financial position approximate fair value due to the short term maturity of these instruments.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">Financial instruments recorded at the reporting date at fair value are classified into one of three levels based upon the fair value hierarchy. Items are categorized based on inputs used to derive fair value based on:</div>
  <div><br>
  </div>
  <div style="text-align: justify;">Level 1 - quoted prices that are unadjusted in active markets for identical assets or liabilities;</div>
  <div style="text-align: justify;">Level 2 - inputs other than quoted prices included in level 1 that are observable for the asset/liability either directly or indirectly; and</div>
  <div style="text-align: justify;">Level 3 - inputs for the instruments are not based on any observable market data.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The Company had no financial instruments recorded at fair value in the interim condensed consolidated statement of financial position at June 30, 2020 or December 31, 2019.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">Fair value estimates are made at the relevant transaction date, based on relevant market information and information about the financial instrument. These estimates are subjective in nature and involve uncertainties in
    significant matters of judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect these estimates.</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-weight: bold;">Risk management overview</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The Company has exposure to credit, liquidity and market risks from its use of financial instruments. This note provides information about the Company&#8217;s exposure to each of these risks, the Company&#8217;s objectives, policies
    and processes for measuring and managing risk. Further quantitative disclosures are included throughout these interim condensed consolidated financial statements.</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-weight: bold;">Credit risk</div>
  <div><br>
  </div>
  <div style="text-align: justify;">Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual obligations and arises principally from the Company&#8217;s loan receivable, advances, and cash
    and restricted cash held with banks and other financial intermediaries.</div>
  <div><br>
  </div>
  <div style="text-align: justify;"><a name="z_Hlk18061729"></a>The carrying amount of the cash and restricted cash, advances, and loan receivable represents the maximum credit exposure which amounted to $8,420,118 as at June 30, 2020 (December 31, 2019 -
    $250,884).</div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">F-15</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div style="text-align: justify;">
    <div style="font-size: 14pt; font-weight: bold;">Flora Growth Corp.</div>
    <div style="font-weight: bold;">Notes to the interim condensed consolidated financial statements</div>
    <div style="font-family: 'Times New Roman',Times,serif; font-weight: normal;">For the six months ended June 30, 2020 and the period from incorporation on March 13, 2019 to June 30, 2019</div>
    <div style="font-family: 'Times New Roman',Times,serif; font-weight: normal;">(expressed in United States dollars)</div>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">17.</font>&#160;&#160;&#160;&#160; <font style="font-weight: bold;">FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (CONTINUED)</font></div>
  <div style="text-align: justify; font-weight: bold;">Credit risk (Continued)</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The Company has assessed that there has been no significant increase in credit risk of the loans receivable and advances from initial recognition based on the financial position of the borrowers, and the regulatory and
    economic environment of the borrowers. As a result, the loss allowance recognized during the period was limited to 12 months expected credit losses. Based on historical information, and adjusted for forward-looking expectations, the Company has
    assessed an insignificant loss allowance on the loans receivable and advances as at June 30, 2020 and December 31, 2019.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The Company held cash and restricted cash of $6,704,328 at June 30, 2020 (December 31, 2019 - $159,797), of which, $5,876,002 (December 31, 2019 &#8211; nil) is held with central banks and financial institution counterparties
    that are highly rated. $516,256 (December 31, 2019 &#8211; nil) is held in a trust account. The remaining amount of $312,070 (December 31, 2019 - $159,797) is held with a financial intermediary in Colombia. The Company has assessed no significant increase in
    credit risk from initial recognition based on the availability of funds, and the regulatory and economic environment of the financial intermediary. As a result, the loss allowance recognized during the period was limited to 12 months expected credit
    losses. Based on historical information, and adjusted for forward-looking expectations, the Company has assessed an insignificant loss allowance on this cash balance as at June 30, 2020 and December 31, 2019.</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-weight: bold;">Market risk</div>
  <div><br>
  </div>
  <div style="text-align: justify;">Market risk is the risk that changes in market conditions, such as commodity prices, foreign exchange rates, and interest rates, will affect the Company&#8217;s net income or the value of financial instruments. The objective
    of market risk management is to manage and control market risk exposures within acceptable limits, while maximizing the Company&#8217;s returns.</div>
  <div style="text-align: justify;"><a name="z_Hlk18067289"></a><a name="z_Hlk497469336"></a><br>
  </div>
  <div style="text-align: justify;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Foreign exchange risk</div>
  <div style="text-align: justify; margin-left: 50.15pt;">Foreign currency exchange rate risk is the risk that the fair value of future cash flows will fluctuate as a result of changes in foreign exchange rates. The Company does not currently use foreign
    exchange contracts to hedge its exposure to currency rate risk as management has determined that this risk is not significant at this point in time. As such, the Company's financial position and financial results may be adversely affected by the
    unfavorable fluctuations in currency exchange rates.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">As at June 30, 2020, the Company had the following monetary assets and liabilities denominated in foreign currencies:</div>
  <div><br>
  </div>
  <table style="width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z60ca6fd2169f49648d8a4fbfc40e6e0b" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 34.02%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">June 30, 2020</div>
        </td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right; font-weight: bold;">CAD</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right; font-weight: bold;">COP</div>
        </td>
      </tr>
      <tr>
        <td style="width: 34.02%; vertical-align: bottom; background-color: #FFFFFF;">
          <div>Cash</div>
        </td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;$&#160; &#160; &#160; &#160; 223,350</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">1,173,041,789</div>
        </td>
      </tr>
      <tr>
        <td style="width: 34.02%; vertical-align: bottom; background-color: #FFFFFF;">
          <div>Loans receivable</div>
        </td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">100,000</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">1,326,496,036</div>
        </td>
      </tr>
      <tr>
        <td style="width: 34.02%; vertical-align: bottom; background-color: #FFFFFF;">
          <div>Amounts receivable</div>
        </td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">302,767</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">28,120,092</div>
        </td>
      </tr>
      <tr>
        <td style="width: 34.02%; vertical-align: bottom; background-color: #FFFFFF;">
          <div>Trade payables</div>
        </td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(826,639)</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">(262,919,485)</div>
        </td>
      </tr>
      <tr>
        <td style="width: 34.02%; vertical-align: bottom; background-color: #FFFFFF;">
          <div>Accrued liabilities</div>
        </td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">182,201</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">-</div>
        </td>
      </tr>
      <tr>
        <td style="width: 34.02%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
          <div>Lease liability</div>
        </td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="text-align: right;">-</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="text-align: right;">(902,689,236)</div>
        </td>
      </tr>
      <tr>
        <td style="width: 34.02%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">&#160;</td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;$&#160; &#160;&#160; (18,321)</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right;">1,362,049,196</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div style="text-align: justify;">As at December 31, 2019, the Company had the following monetary assets and liabilities denominated in foreign currencies:</div>
  <div><br>
  </div>
  <table style="width: 70%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="zaa3aaae34c224b50b9df3b4598591812" border="0" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 34.02%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">December 31, 2019</div>
        </td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right; font-weight: bold;">CAD</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right; font-weight: bold;">COP</div>
        </td>
      </tr>
      <tr>
        <td style="width: 34.02%; vertical-align: bottom; background-color: #FFFFFF;">
          <div>Cash</div>
        </td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">&#160;&#160;&#160;&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; -</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">523,676,716</div>
        </td>
      </tr>
      <tr>
        <td style="width: 34.02%; vertical-align: bottom; background-color: #FFFFFF;">
          <div>Amounts receivable</div>
        </td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">18,518</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">5,115,000</div>
        </td>
      </tr>
      <tr>
        <td style="width: 34.02%; vertical-align: bottom; background-color: #FFFFFF;">
          <div>Trade payables</div>
        </td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(384,767)</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">(247,758,338)</div>
        </td>
      </tr>
      <tr>
        <td style="width: 34.02%; vertical-align: bottom; background-color: #FFFFFF;">
          <div>Accrued liabilities</div>
        </td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">(791,485)</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: #FFFFFF;">
          <div style="text-align: right;">-</div>
        </td>
      </tr>
      <tr>
        <td style="width: 34.02%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
          <div>Lease liability</div>
        </td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="text-align: right;">-</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="text-align: right;">(978,464,861)</div>
        </td>
      </tr>
      <tr>
        <td style="width: 34.02%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">&#160;</td>
        <td style="width: 34.54%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;$(1,157,734)</div>
        </td>
        <td style="width: 31.43%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
          <div style="text-align: right;">(697,431,483)</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">F-16</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div>
    <div style="text-align: justify; font-size: 14pt; font-weight: bold;">Flora Growth Corp.</div>
    <div style="text-align: justify; font-weight: bold;">Notes to the interim condensed consolidated financial statements</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">For the six months ended June 30, 2020 and the period from incorporation on March 13, 2019 to June 30, 2019</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(expressed in United States dollars)</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;"> <br>
    </div>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">17.</font>&#160;&#160;&#160;&#160; <font style="font-weight: bold;">FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (CONTINUED)</font></div>
  <div style="text-align: justify; font-weight: bold;">Market risk (Continued)</div>
  <div><br>
  </div>
  <div style="text-align: justify;">Monetary assets and liabilities denominated in Canadian dollars and Colombian pesos are subject to foreign currency risk. As at June 30, 2020, had the United States dollar weakened/strengthened by 5% against the Canadian
    dollar with all other variables held constant, there would have been a change of approximately $1,000 (December 31, 2019 - $45,000) in the Company&#8217;s net loss. As at June 30, 2020, had the United States dollar weakened/strengthened by 5% against the
    Colombian peso with all other variables held constant, there would have been a change of approximately $500 (December 31, 2019 - $8,000) in the Company&#8217;s other comprehensive income.</div>
  <div><br>
  </div>
  <div style="text-align: justify;"><a name="z_Hlk18067683"></a>It is management&#8217;s opinion that the Company is not subject to significant commodity or interest rate risk.</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-weight: bold;">Liquidity risk</div>
  <div><br>
  </div>
  <div style="text-align: justify;"><a name="z_Hlk18067804"></a><a name="z_Hlk497469443"></a>Liquidity risk is the risk that the Company will encounter difficulty in meeting obligations associated with the financial liabilities. The Company&#8217;s financial
    liabilities consist of trade payables and accrued liabilities of $1,232,062 and lease liability of $240,146 as at June 30, 2020. The Company had cash and restricted cash of $6,704,328 as at June 30, 2020. The Company&#8217;s policy is to review liquidity
    resources and ensure that sufficient funds are available to meet financial obligations as they become due. Further, the Company's management is responsible for ensuring funds exist and are readily accessible to support business opportunities as they
    arise.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">Trade payables and accrued liabilities consist of invoices payable to trade suppliers for administration and professional expenditures. The Company processes invoices within a normal payment period. Trade payables have
    contractual maturities of less than 90 days.</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-weight: bold;">Novel Coronavirus (&#8220;COVID-19&#8221;)</div>
  <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt;">The Company&#8217;s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of
    respiratory illness caused by COVID-19. The Company cannot accurately predict the impact COVID-19 will have on its operations and the ability of others to meet their obligations with the Company, including uncertainties relating to the ultimate
    geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in
    the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect the Company&#8217;s operations and ability to
    finance its operations.</div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">18.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-weight: bold;">CAPITAL
      MANAGEMENT</font></div>
  <div style="text-align: justify;">The Company considers the aggregate of its common shares, options, warrants and deficit as capital. The Company&#8217;s objective, when managing capital, is to ensure sufficient resources are available to meet day to day
    operating requirements and to safeguard its ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">At June 30, 2020 and December 31, 2019, the Company has no cash-generating operations; therefore, the only source of cash flow is generated from financing activities. The Company&#8217;s officers and senior management are in
    the process of searching for additional business opportunities. Potential business activities are appropriately evaluated by senior management and a formal review and approval process has been established at the Board of Directors&#8217; level. The Company
    may enter into new financing arrangements to meet its objectives for managing capital, until such time as a viable business activity is operational and the Company can thereby internally generate sufficient capital to cover its operational
    requirements.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">The Company&#8217;s officers and senior management take full responsibility for managing the Company&#8217;s capital and do so through quarterly meetings and regular review of financial information. The Company&#8217;s Board of Directors
    is responsible for overseeing this process.</div>
  <div><br>
  </div>
  <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">F-17</font></div>
    <div id="DSPFPageBreak" style="page-break-after: always;">
      <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
  </div>
  <div>
    <div style="text-align: justify; font-size: 14pt; font-weight: bold;">Flora Growth Corp.</div>
    <div style="text-align: justify; font-weight: bold;">Notes to the interim condensed consolidated financial statements</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">For the six months ended June 30, 2020 and the period from incorporation on March 13, 2019 to June 30, 2019</div>
    <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: normal;">(expressed in United States dollars)</div>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 8.5pt;"><font style="font-weight: bold;">19.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">SUBSEQUENT EVENTS</font></div>
  <div style="font-weight: bold;">REGULATION A OFFERING</div>
  <div><br>
  </div>
  <div style="text-align: justify;">Subsequent to June 30, 2020, the Company issued 7,441,760 units of the Company at a price of $0.75 per unit for gross proceeds of $5,581,320. Each Unit is comprised of one common share in the capital of the Company, with
    no par value per share, and one-half of one Common Share purchase warrant to purchase one additional Common Share at an exercise price of $1.00 per Warrant Share, subject to certain adjustments, over an 18-month exercise period following the date of
    issuance of the Warrant.&#160; Flora is selling the Units through a Tier 2 offering pursuant to Regulation A (Regulation A+) under the Securities Act of 1933.&#160; As at September 25, 2020, the balance of funds held in the escrow account is $4,175,468.</div>
  <div><br>
  </div>
  <div style="text-align: justify;">Subsequent to June 30, 2020, the Company issued 1,050,000 stock options of the Company at a price of $0.75 to employees and consultants of the Company.</div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">F-18</font></div>
    <div style="page-break-after:always;" id="DSPFPageBreak">
      <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
  </div>
  <!--PROfilePageNumberReset%Num%9%%%-->
  <div style="font-weight: bold;">Item 4. Exhibits</div>
  <div><br>
  </div>
  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z69531be5af57432891cab816de36c670" cellpadding="0" cellspacing="0">

      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF; border-bottom: #000000 2px solid;">
          <div><a name="PARTIIIEXHIBITS"></a>Exhibit No.</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF; border-bottom: #000000 2px solid;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF; border-bottom: #000000 2px solid;">
          <div style="text-align: justify;">Description</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
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      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
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        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex21.htm">Certificate of Incorporation of Flora Growth Corp.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div style="text-align: justify;">&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex22.htm">EX1A-2.2#</a></div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex22.htm">Bylaws of Flora Growth Corp.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div style="text-align: justify;">&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000095/ex41.htm">EX1A-4.1+</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000095/ex41.htm">Form of Subscription Agreement.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex42.htm">EX1A-4.2#</a></div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex42.htm">Form of Common Share Purchase Warrant.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a name="z_Hlk21515882"></a><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex61.htm">EX1A-6.1#</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex61.htm">Consulting Agreement dated March 14, 2019 between Flora Growth Corp. and Forbes &amp; Manhattan, Inc.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex62.htm">EX1A-6.2#</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex62.htm">Consulting Agreement dated March 14, 2019 between Flora Growth Corp. and Stan Bharti.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex63.htm">EX1A-6.3#</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex63.htm">Consulting Agreement dated March 14, 2019 between Flora Growth Corp. and Damian Lopez.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex64.htm">EX1A-6.4#</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex64.htm">Consulting Agreement dated March 14, 2019 between Flora Growth Corp. and Jadan Consulting Corporation.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex65.htm">EX1A-6.5#</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex65.htm">Consulting Agreement dated September 11, 2019 between Flora Growth Corp. and Orlando Bustos.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex66.htm">EX1A-6.6#</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex66.htm">Form of Founder Warrant to Purchase Common Shares of Flora Growth Corp.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex67.htm">EXA1-6.7#</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex67.htm">Broker-Dealer Agreement dated September 6, 2019 between Flora Growth Corp. and Dalmore Group, LLC.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex68.htm">EX1A-6.8#</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex68.htm">Consulting Agreement dated September 6, 2019 between Flora Growth Corp. and DALV Consulting, LLC.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex69.htm">EX1A-6.9#</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex69.htm">Shared Costs Services Agreement dated March 14, 2019 between Flora Growth Corp. and 2227929 Ontario Inc.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a name="z_Hlk21600987"></a><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex610.htm">EX1A-6.10#</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex610.htm">Promissory Lease With Option to Sale and Purchase Agreement dated December 27, 2018 between Cosechemos YA S.A.S. and Waldshut
              C.V.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex611.htm">EX1A-6.11#</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex611.htm">Promissory Lease With Option to Sale and Purchase Agreement dated December 27, 2018 between Cosechemos YA S.A.S. and Vicalvaro
              C.V.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex612.htm">EX1A-6.12#</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex612.htm">Lease Agreement dated May 2, 2018 between Cosechemos YA S.A.S. and C.I Gramulaz S.C.A</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000095/ex613.htm">EX1A-6.13+</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000095/ex613.htm">Amendment to Lease Agreement dated September 1, 2019 between Cosechemos YA S.A.S. and C.I Gramulaz S.C.A.</a></div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex614.htm">EX1A-6.14#</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex614.htm">Loan Agreement dated August 6, 2019 between Flora Growth Corp. and Copper One Inc., as amended on September 12, 2019.</a></div>
        </td>
      </tr>

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      <tr>
        <td rowspan="1" colspan="2" style="width: 13.32%; vertical-align: top; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">Exhibit No.<br>
        </td>
        <td rowspan="1" style="width: 1.06%; vertical-align: middle; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        <td rowspan="1" style="width: 85.62%; vertical-align: middle; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">Description&#160; <br>
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      <tr>
        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
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      </tr>
      <tr>
        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex615.htm">EX1A-6.15#</a></div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex615.htm">Shareholders&#8217; Agreement dated October 2, 2019 among Flora Growth Corp., Guillermo Andres Ramirez Martinez, Guillermo Ramirez Cabrales and Oscar Mauricio
              Franco Ulloa.</a></div>
        </td>
      </tr>
      <tr>
        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: #FFFFFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
      </tr>
      <tr>
        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: #CCEEFF;">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex616.htm">EX1A-6.16#</a></div>
        </td>
        <td style="width: 1.06%; vertical-align: middle; background-color: #CCEEFF;"><br>
        </td>
        <td style="width: 85.62%; vertical-align: middle; background-color: #CCEEFF;">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex616.htm">Flora Growth Corp. Stock Option Plan.</a></div>
        </td>
      </tr>
      <tr>
        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: #FFFFFF;">
          <div>&#160;</div>
        </td>
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          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000095/ex618.htm">EX1A-6.18+</a></div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: rgb(204, 238, 255);"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000095/ex618.htm">Amendment to Promissory Lease With Option to Sale and Purchase Agreement dated November 1, 2019 between Cosechemos YA S.A.S.
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        <td style="width: 1.06%; vertical-align: middle; background-color: rgb(255, 255, 255);"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(255, 255, 255);">
          <div>&#160;</div>
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        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: rgb(204, 238, 255);">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000095/ex619.htm">EX1A-6.19+</a></div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: rgb(204, 238, 255);"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000095/ex619.htm">Amendment to Promissory Lease With Option to Sale and Purchase Agreement dated November 1, 2019 between Cosechemos YA S.A.S. and Vicalvaro C.V.</a></div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: rgb(255, 255, 255);"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(255, 255, 255);">
          <div>&#160;</div>
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          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406220000032/ex620.htm">EX1A-6.20*</a></div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: rgb(204, 238, 255);"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406220000032/ex620.htm">Loan Agreement dated February 12, 2020 between Flora Growth Corp. and Newdene Gold Inc.</a></div>
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          <div>&#160;</div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: rgb(255, 255, 255);"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(255, 255, 255);">
          <div>&#160;</div>
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        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: rgb(204, 238, 255);">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406220000032/ex621.htm">EX1A-6.21*</a></div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: rgb(204, 238, 255);"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406220000032/ex621.htm">Independent Contractor Agreement dated April 5, 2020 between Flora Growth Corp. and Evan Veryard.</a></div>
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        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: rgb(255, 255, 255);">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406220000032/ex622.htm">&#160;</a></div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: rgb(255, 255, 255);"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(255, 255, 255);">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406220000032/ex622.htm">&#160;</a></div>
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      </tr>
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        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: rgb(204, 238, 255);">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406220000032/ex622.htm">EX1A-6.22*</a></div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: rgb(204, 238, 255);"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406220000032/ex622.htm">Independent Contractor Agreement dated January 1, 2020 between Flora Growth Corp. and Pedra da Gavea Co. Ltd.</a></div>
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        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: rgb(255, 255, 255);">
          <div>&#160;</div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: rgb(255, 255, 255);"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(255, 255, 255);">
          <div>&#160;</div>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
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        <td style="width: 1.06%; vertical-align: middle; background-color: rgb(255, 255, 255);"><br>
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          <div>&#160;</div>
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        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: rgb(204, 238, 255);">
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
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          <div>&#160;</div>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
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        <td style="width: 1.06%; vertical-align: middle; background-color: rgb(255, 255, 255);"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(255, 255, 255);">
          <div>&#160;</div>
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        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: rgb(204, 238, 255);">
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
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        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(255, 255, 255);">&#160;</td>
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        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: rgb(204, 238, 255);">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex71.htm">EX1A-7.1#</a></div>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex71.htm">Share Purchase Agreement dated July 16, 2019 among Flora Growth Corp., Guillermo Andres Ramirez Martinez, Guillermo Ramirez
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        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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          <div style="text-align: justify;">Power of Attorney.</div>
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          <div>&#160;</div>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(255, 255, 255);">
          <div>&#160;</div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: rgb(204, 238, 255);"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000095/ex111.htm"><br>
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            <div style="text-align: left;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000095/ex111.htm">Consent of McGovern Hurley LLP previously filed as part of Part
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          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406220000032/ex111.htm">Consent of McGovern Hurley LLP previously filed as an exhibit to
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000095/ex112.htm">Consent of RSM Colombia SAS.</a></div>
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        <td colspan="2" style="width: 13.32%; vertical-align: top; background-color: rgb(204, 238, 255);">
          <div><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex141.htm">EX1A-14.1#</a></div>
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        <td style="width: 1.06%; vertical-align: middle; background-color: rgb(204, 238, 255);"><br>
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        <td style="width: 85.62%; vertical-align: middle; background-color: rgb(204, 238, 255);">
          <div style="text-align: justify;"><a href="http://www.sec.gov/Archives/edgar/data/1790169/000159406219000087/ex141.htm">Appointment of Agent for Service of Process.</a></div>
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        <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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          <div>Filed herewith</div>
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          <div>Previously filed and incorporated by reference to the exhibits filed as part of Part III of the Form 1-A filed with the SEC on October 11, 2019.</div>
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  <div style="text-align: justify;">Pursuant to the requirements of Regulation A, the issuer had duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>
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          <div style="font-style: italic;">/ s/Damian Lopez<br>
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  <div style="margin-left: 288pt;">&#160;&#160;&#160;&#160; <br>
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  <div style="text-align: justify;">Pursuant to the requirements of Regulation A, this report has been signed below by the following persons on behalf of the issuer and in the capacities and on the dates indicated.</div>
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          <div>Name: Damian Lopez</div>
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            &#160;</div>
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          <div>&#160;</div>
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          <div>&#160;</div>
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        <td style="width: 0.98%; vertical-align: middle;">
          <div style="text-align: justify;">&#160;</div>
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        <td style="width: 23.06%; vertical-align: middle;">
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        <td style="width: 31.72%; vertical-align: middle;">
          <div>&#160;</div>
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          <div style="text-align: center;">Date September 28, 2020</div>
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        <td style="width: 31.72%; vertical-align: middle;">
          <div>&#160;</div>
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        <td style="width: 44.24%; vertical-align: middle;">
          <div>Name: Deborah Battiston</div>
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            &#160;</div>
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        <td style="width: 0.98%; vertical-align: middle;">
          <div style="text-align: justify;">&#160;</div>
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        <td style="width: 23.06%; vertical-align: middle;">
          <div style="text-align: center;">&#160;</div>
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<DOCUMENT>
<TYPE>EX1SA-6 MAT CTRCT
<SEQUENCE>2
<FILENAME>ex623.htm
<DESCRIPTION>LOAN AGREEMENT DATED NOVEMBER 6, 2019 BETWEEN FLORA GROWTH CORP. AND SULLIDEN MINING CAPITAL INC.
<TEXT>
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      <div style="text-align: center; margin-right: 2pt; margin-left: 4.5pt; font-weight: bold;"><u>LOAN AGREEMENT</u></div>
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        </u></div>
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      <div style="margin-right: 39.15pt; margin-left: 5pt; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">FLORA GROWTH CORP.</font>, a corporation existing pursuant to the laws of the Province of Ontario (hereinafter referred
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      <div style="margin-right: 39.15pt; margin-left: 14pt; font-family: 'Times New Roman',Times,serif;"><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> &#160;&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font style="font-weight: bold;">OF THE FIRST PART<font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font></font></div>
      <div style="margin-left: 5pt; font-family: 'Times New Roman',Times,serif;">- and - <br>
      </div>
      <div><br>
      </div>
      <div style="margin-right: 39.15pt; margin-left: 5pt; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">SULLIDEN MINING CAPITAL INC.</font>, a corporation existing pursuant to the laws of the Province of Ontario
        (hereinafter referred to as the &#8220;<font style="font-weight: bold;">Lender</font>&#8221;)</div>
      <div><br>
      </div>
      <font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font style="font-weight: bold;">OF THE SECOND PART </font>
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      <div style="text-align: justify; text-indent: 35.95pt; margin-right: 5.65pt; margin-left: 5pt; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">WHEREAS </font>the Lender has agreed to lend, and the Borrower has agreed to
        borrow up to US$250,000 (the &#8220;<font style="font-weight: bold;">Loan</font>&#8221;) subject to the terms and conditions contained in this Loan Agreement;</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 35.95pt; margin-right: 6.2pt; margin-left: 5pt; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">NOW THEREFORE </font>in consideration of the mutual promises and covenants
        hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, hereby agree as follows:</div>
      <div><br>
      </div>
      <div>
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              <td style="width: 41pt; vertical-align: top;">
                <div style="margin-left: 22.95pt; font-weight: bold;">1.</div>
              </td>
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                <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">The Loan</div>
              </td>
            </tr>

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      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 18pt; margin-right: 5.65pt; margin-left: 5pt; font-family: 'Times New Roman',Times,serif;">The Lender hereby agrees to lend to the Borrower the principal sum of up to US$250,000 in lawful money of the
        United States of America (the &#8220;<font style="font-weight: bold;">Principal</font>&#8221;). The Borrower agrees that interest shall be calculated and payable at a rate of 12.0% per annum and any accrued interest shall be payable on the maturity date.</div>
      <div><br>
      </div>
      <div>
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            <tr>
              <td style="width: 41pt; vertical-align: top;">
                <div style="margin-left: 22.95pt; font-weight: bold;">2.</div>
              </td>
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                <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Repayment</div>
              </td>
            </tr>

        </table>
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      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 35.95pt; margin-right: 5.65pt; margin-left: 5pt; font-family: 'Times New Roman',Times,serif;">The Borrower shall repay the outstanding Principal and all accrued interest in full by no later than March 31,
        2020 (the &#8220;<font style="font-weight: bold;">Term</font>&#8221;). The Borrower may repay the Loan at any time prior to the end of the Term.</div>
      <div><br>
      </div>
      <div>
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              </td>
            </tr>

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      <div><br>
      </div>
      <div style="margin-left: 23pt; font-family: 'Times New Roman',Times,serif;">The Borrower shall use the proceeds of the Loan solely for general corporate purposes.</div>
      <div><br>
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      <div style="text-align: justify; text-indent: 35.95pt; margin-right: 5.7pt; margin-left: 5pt; font-family: 'Times New Roman',Times,serif;">No waiver of any right or remedy of the Lender hereunder shall be effective unless in writing and signed by the
        Lender and any waiver granted by the Lender shall be effective only to the extent and in the circumstances specified therein. No failure, delay or omission by the Lender to exercise or enforce any rights or remedies under this Loan Agreement shall
        constitute a waiver thereof or of any other rights or remedies of the Lender.</div>
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      <div style="margin-left: 5pt; font-family: 'Times New Roman',Times,serif;">An event of default (&#8220;<font style="font-weight: bold;">Event of Default</font>&#8221;) shall occur if:</div>
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            <tr>
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                <div style="font-family: 'Times New Roman', Times, serif; text-align: justify;">The Borrower shall fail to pay to the Lender any amount of Principal, interest or any other amount when due and payable hereunder;</div>
              </td>
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      <div><br>
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      <div>
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                <div style="margin-left: 23pt;">b.</div>
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                <div style="font-family: 'Times New Roman', Times, serif; text-align: justify;">The Borrower shall fail to use the proceeds of the Loan exactly in accordance with the requirements set out in Section 3 hereunder;</div>
              </td>
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      <div><br>
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                <div style="font-family: 'Times New Roman', Times, serif;">The Borrower shall sell or attempt to sell all or substantially all its assets;</div>
              </td>
            </tr>

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      <div><br>
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                <div style="font-family: 'Times New Roman', Times, serif; text-align: justify;">A creditor shall take or purport to take possession or to assert a prior claim, hypothec or lien in respect of any substantial part of the property of the
                  Borrower and such procedure is not contested in good faith by the Borrower immediately upon such event, or if a lien, execution, distress or any process of any court be levied or enforced against any of the foregoing and remain
                  unsatisfied for such period as would permit such property or such part thereof to be sold thereunder;</div>
              </td>
            </tr>

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                <div style="font-family: 'Times New Roman', Times, serif; text-align: justify;">A resolution is passed or a petition filed for the wind-up or liquidation of the Borrower or if the Borrower institutes proceedings under any bankruptcy,
                  insolvency or analogous law or is adjudicated as bankrupt or insolvent, or consents to (or fails to contest in good faith) the institution of bankruptcy or insolvency proceedings against it or makes (or serves notice of intention to make)
                  any proposal under any bankruptcy, insolvency or analogous laws, or consents (or fails to contest in good faith) to the filing of any such petition or to the appointment of a receiver of, or of any substantial part of, the property of the
                  Borrower or makes a general assignment for the benefit of creditors, or makes or agrees to make any bulk sale without complying with the provisions of any applicable bulk sale provision, or admits (in writing or otherwise) its inability
                  to pay its debts generally as they become due, or ceases or threatens to cease to carry on business as a going concern, or takes corporate action in furtherance of any of the aforesaid purposes; or</div>
              </td>
            </tr>

        </table>
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      <div><br>
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              </td>
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                <div style="text-align: justify;">In the event of any breach or default by the Borrower of its obligations, undertakings, covenants, representations and warranties pursuant to this Loan Agreement.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 35.95pt; margin-right: 5.65pt; margin-left: 5pt; font-family: 'Times New Roman',Times,serif;">In each and every such Event of Default the Lender may, at its option, by written notice to the Borrower
        declare the Principal advanced pursuant to this Loan Agreement outstanding hereunder, together with all other amounts payable hereunder (including any interest thereon accrued and unpaid), to be due and payable and the same shall forthwith become
        immediately due and payable to the Lender, anything therein or herein to the contrary notwithstanding, and the Borrower shall pay forthwith to the Lender the amount of the Principal then outstanding and all other amounts payable hereunder, from the
        date of the said declaration until payment is received by the Lender.</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 35.95pt; margin-right: 5.7pt; margin-left: 5pt; font-family: 'Times New Roman',Times,serif;">Should an Event of Default occur, the Lender may, at its option, exercise its rights by any act, proceeding,
        recourse or procedure authorized or permitted by law and may file its proof and any other documents necessary or desirable so that the request of the Lender may be considered in any liquidation or other proceeding with respect to the Borrower.</div>
      <div><br>
      </div>
      <div>
        <table style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="z0cc3e05b992049dab8c0b75b5e4ec3b2" cellpadding="0" cellspacing="0">

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                <div style="margin-left: 22.95pt; font-weight: bold;">6.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Miscellaneous</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 35.95pt; margin-right: 5.8pt; margin-left: 5pt; font-family: 'Times New Roman',Times,serif;">No remedy herein conferred upon or reserved to the Lender is intended to be exclusive of any other remedy, but
        each and every such remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now existing or hereafter to exist by law or by statute.</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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          <hr style="margin: 4px 0px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;" noshade="noshade"></div>
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      <div style="text-align: justify; text-indent: 35.95pt; margin-right: 5.7pt; margin-left: 5pt; font-family: 'Times New Roman',Times,serif;">The delay or omission of the Lender to exercise any recourse mentioned above shall not invalidate any such
        recourse nor be interpreted as a waiver of any default hereunder.</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 35.95pt; margin-right: 5.7pt; margin-left: 5pt; font-family: 'Times New Roman',Times,serif;">The Borrower shall assume and pay all reasonable costs, charges and expenses including reasonable solicitors&#8217;
        costs, charges and expenses as between solicitor and his own client that may be incurred by the Lender in respect of any proceedings taken or things done by the Lender or on its behalf in connection with this Loan Agreement to collect all amounts
        due hereunder, and the Borrower shall consent to those costs, charges and expenses being charged.</div>
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        <table style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" class="DSPFListTable" id="ze51a1a61615d436aa3691bde86edda1b" cellpadding="0" cellspacing="0">

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                <div style="margin-left: 22.95pt; font-weight: bold;">7.</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Assigns, Successors and Governing Law</div>
              </td>
            </tr>

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      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 35.95pt; margin-right: 5.7pt; margin-left: 5pt; font-family: 'Times New Roman',Times,serif;">This Loan Agreement shall not be assignable by the Borrower without the prior written consent of the Lender.
        This Loan Agreement shall enure to the benefit of and be binding upon the respective successors of the Borrower and the Lender and the assigns of the Lender and the permitted assigns of the Borrower. This Loan Agreement shall be governed by and
        construed in accordance with the laws of the Province of Ontario.</div>
      <div><br>
      </div>
      <div style="margin-left: 5pt; font-family: 'Times New Roman',Times,serif;">Dated as of the 6<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> day of November, 2019</div>
      <div><br>
      </div>
      <div style="margin-left: 221.05pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">FLORA GROWTH CORP.</div>
      <div><br>
      </div>
      <div style="text-indent: -36pt; margin-right: 39.15pt; margin-left: 257.05pt; font-family: 'Times New Roman',Times,serif;">By: <u>/s/Damian Lopez</u><br>
      </div>
      <div style="text-indent: -36pt; margin-right: 39.15pt; margin-left: 257.05pt; font-family: 'Times New Roman',Times,serif;">&#160;&#160;&#160;&#160; Authorized Signing Officer</div>
      <div><br>
      </div>
      <div style="margin-left: 221.05pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">SULLIDEN MINING CAPITAL INC.</div>
      <div><br>
      </div>
      <div style="margin-left: 221.05pt; font-family: 'Times New Roman',Times,serif;">By: <u>/s/Deborah Battiston</u><br>
      </div>
      <div style="margin-left: 221.05pt; font-family: 'Times New Roman',Times,serif;">&#160;&#160;&#160;&#160; Authorized Signing Officer</div>
      <div style="margin-left: 221.05pt; font-family: 'Times New Roman',Times,serif;"> <br>
      </div>
      <div style="margin-left: 221.05pt; font-family: 'Times New Roman',Times,serif;"><br>
        <br>
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<DOCUMENT>
<TYPE>EX1SA-6 MAT CTRCT
<SEQUENCE>3
<FILENAME>ex624.htm
<DESCRIPTION>PROMISSORY NOTE NO. 101 DATED JUNE 1, 2020 BETWEEN FLORA GROWTH CORP. AND KASA WHOLEFOODS COMPANY SAS
<TEXT>
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              <div><font style="font-size: 8pt; font-family: 'Times New Roman',Times,serif;">PAGAR&#201; Y CARTA DE INSTRUCCIONES DE </font><font style="font-size: 8pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">KASA
                  WHOLEFOODS COMPANY SAS </font><font style="font-size: 8pt;">A FAVOR DE<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> FLORA GROWTH CORP. SUCURSAL COLOMBIA</font></font></div>
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              <div style="text-align: center; margin-right: 1.65pt; font-weight: bold;">PAGARE No. 101</div>
              <div><br>
              </div>
              <div style="text-align: justify; margin-right: 1.65pt;"><font style="font-weight: bold;">SANTIAGO MORA BAHAMON</font>, mayor de edad, identificado con C.C. 1.020.727.140, actuando en calidad de representante legal de la empresa <font style="font-weight: bold;">KASA WHOLEFOODS COMPANY SAS</font><font style="font-weight: bold;">,</font> una compa&#241;&#237;a regida por las leyes de la Rep&#250;blica de Colombia, constituida por documento privado No. 1 de asamblea de accionistas del 27 de junio de 2013, inscrita el 02 de julio de 2013 bajo el
                n&#250;mero 01744035 en la C&#225;mara de Comercio de Bogot&#225;, identificada con NIT. 900.636.525-1 (en adelante denominada en este documento como &#8220;KASA&#8221;), por medio
                del presente escrito manifiesto:</div>
              <div><br>
              </div>
              <div style="text-align: justify; margin-right: 1.65pt;"><font style="font-weight: bold;">PRIMERA: </font>Que debo y
                pagar&#233;, incondicional y solidariamente a la orden de <font style="font-weight: bold;">FLORA GROWTH CORP. SUCURSAL COLOMBIA</font>, regida por las leyes de Colombia e
                identificada bajo el NIT 901.379.188-1, representada en este documento por el se&#241;or <font style="font-weight: bold;">JOS&#201; REINALDO CASTELLANOS BERNAL </font>Ciudadano
                Colombiano domiciliado en la ciudad de Bogot&#225; e identificado con la cedula de ciudadan&#237;a No. 19.158.484 de Bogot&#225;. o, a la persona natural o jur&#237;dica a quien el mencionado acreedor ceda o endose sus derechos sobre este pagar&#233;, la suma
                cierta de CIENTO VEINTICINCO MIL D&#211;LARES (US$125.000).</div>
              <div><br>
              </div>
              <div style="text-align: justify; margin-right: 1.65pt;"><font style="font-weight: bold;">SEGUNDA: </font>Que
                  el pago total de la mencionada obligaci&#243;n se efectuar&#225; en un solo pago, el d&#237;a _______ del mes de<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt" id="TRGRRTFtoHTMLTab">&#160;</font>__________  del a&#241;o ________, en la calle 93B No. 13 &#8211; 50, oficina 101, ubicada en la ciudad de Bogot&#225; D.C.</div>
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              <div style="text-align: justify; margin-right: 1.65pt;"><font style="font-weight: bold;">TERCERA: </font>Que en
                caso de mora pagar&#233; a <font style="font-weight: bold;">FLORA GROWTH CORP. SUCURSAL COLOMBIA</font>, o a la persona natural o jur&#237;dica a quien el mencionado acreedor ceda o
                endose sus derechos, intereses de mora a la m&#225;s alta tasa permitida por la Ley, desde el d&#237;a siguiente a la fecha de exigibilidad del presente pagare, y hasta cuando su pago total se efect&#250;e.</div>
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              <div style="background-color: #FFFFFF;">
                <div style="text-align: center; margin-right: 1.1pt; font-weight: bold;"><font style="background-color: #FFFFFF;">PROMISSORY NOTE No. 101</font></div>
              </div>
              <div style="background-color: #FFFFFF;">
                <div><br>
                </div>
                <div style="text-align: justify; margin-right: 1.1pt;"><font style="background-color: #FFFFFF; font-weight: bold;">SANTIAGO
                    MORA BAHAMON</font><font style="background-color: #FFFFFF;">, of legal age, identified with C.C. 1,136,880,358, acting as the legal representative of the company </font><font style="background-color: #FFFFFF; font-weight: bold;">KASA WHOLEFOODS COMPANY SAS</font><font style="background-color: #FFFFFF;">, a company governed by the laws of the Republic of Colombia, constituted by private document No. 1 of the shareholders' meeting of June 27, 2013, registered on July 02, 2013 under number 01744035 in the Chamber
                    of Commerce of Bogot&#225;, identified with NIT. 900.636.525-1, (hereinafter referred to in this document as &#8220;KASA&#8221;), by means of this manifest document:</font></div>
                <div><br>
                </div>
                <div style="text-align: justify; margin-right: 1.1pt;"><font style="background-color: #FFFFFF; font-weight: bold;">FIRST:</font><font style="background-color: #FFFFFF;"> That I owe and will pay, unconditionally and in solidarity to the order of </font><font style="background-color: #FFFFFF; font-weight: bold;">FLORA GROWTH CORP. BRANCH COLOMBIA</font><font style="background-color: #FFFFFF;">, governed by the
                    laws of Colombia and identified under NIT 901.379.188-1, represented in this document by </font><font style="background-color: #FFFFFF; font-weight: bold;">JOS&#201; REINALDO
                    CASTELLANOS BERNAL</font><font style="background-color: #FFFFFF;"> Colombian citizen domiciled in the city of Bogot&#225; and identified with citizenship ID No. 19.158. 484 from
                    Bogot&#225;. or, to the natural or legal person to whom the aforementioned creditor assigns or endorses his rights to this promissory note, the certain amount of ONE HUNDRED AND TWENTY-FIVE THOUSAND DOLLARS (US$ 125,000).</font></div>
                <div><br>
                </div>
                <div style="text-align: justify; margin-right: 1.1pt;"><font style="background-color: #FFFFFF; font-weight: bold;">SECOND:
                  </font><font style="background-color: #FFFFFF;">That the total payment of the aforementioned obligation will be made in a single payment, on the day _______________ of the
                    month ___________________ of the year _______________, at Calle 93B No. 13 - 50, office 101, located in the city of Bogot&#225; D.C.</font></div>
                <div><br>
                </div>
                <div style="text-align: justify; margin-right: 1.1pt;"><font style="background-color: #FFFFFF; font-weight: bold;">THIRD:</font><font style="background-color: #FFFFFF;"> That in case of default I will pay </font><font style="background-color: #FFFFFF; font-weight: bold;">FLORA GROWTH CORP. BRANCH COLOMBIA</font><font style="background-color: #FFFFFF;">, or to the natural or legal person to whom the
                    aforementioned creditor transfers or endorses his rights, default interest at the highest rate allowed by Law, from the day following the date of payment of this payable, and until when your full payment is made.</font></div>
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              <div><font style="font-size: 8pt; font-family: 'Times New Roman',Times,serif;">PAGAR&#201; Y CARTA DE INSTRUCCIONES DE </font><font style="font-size: 8pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">KASA
                  WHOLEFOODS COMPANY SAS </font><font style="font-size: 8pt;">A FAVOR DE<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> FLORA GROWTH CORP. SUCURSAL COLOMBIA</font></font></div>
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                  <div style="text-align: justify; margin-right: 1.65pt; font-family: 'Times New Roman',Times,serif;"><font style="font-weight: bold;">CUARTA:
                    </font>Expresamente declaro excusado el protesto del presente pagar&#233; y los requerimientos judiciales o extrajudiciales para la constituci&#243;n en mora.</div>
                  <div><br>
                  </div>
                  <div style="text-align: justify; margin-right: 1.65pt; font-family: 'Times New Roman',Times,serif;">En constancia de lo anterior, firmo el presente documento, el 1 de junio del a&#241;o 2020.</div>
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                  <div><u><font style="font-style: italic;">/s/ Santiago Mora Bahamon</font></u></div>
                  <div style="text-align: justify; margin-right: 1.65pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">SANTIAGO MORA BAHAMON</div>
                  <div style="text-align: justify; margin-right: 1.65pt; font-family: 'Times New Roman',Times,serif;">C.C. 1.020.727.140</div>
                  <div style="text-align: justify; margin-right: 1.65pt; font-family: 'Times New Roman',Times,serif;">Representante Legal /Legal Representative KASA WHOLEFOODS COMPANY SAS</div>
                  <div style="text-align: justify; margin-right: 1.65pt; font-family: 'Times New Roman',Times,serif;">NIT. / ID. 900.751.809-8</div>
                  <div style="text-align: justify; margin-right: 1.65pt; font-family: 'Times New Roman',Times,serif;">DEUDOR / DEBTOR</div>
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                    <div style="margin-right: 1.1pt; font-family: 'Times New Roman',Times,serif;"><font style="background-color: rgb(255, 255, 255); font-weight: bold;"><u> <br>
                        </u></font></div>
                    <div style="margin-right: 1.1pt; font-family: 'Times New Roman',Times,serif;"><font style="background-color: rgb(255, 255, 255); font-weight: bold;">FOURTH:</font><font style="background-color: rgb(255, 255, 255);"> I expressly declare excused the protest of the present promissory note and
                        the judicial or extrajudicial requirements for the constitution in default.</font></div>
                    <div><br>
                    </div>
                    <div style="margin-right: 1.1pt; font-family: 'Times New Roman',Times,serif;"><font style="background-color: rgb(255, 255, 255);">In proof of the foregoing, I sign this document on June 1, 2020.</font></div>
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                  <div><font style="font-size: 8pt; font-family: 'Times New Roman',Times,serif;">PAGAR&#201; Y CARTA DE INSTRUCCIONES DE </font><font style="font-size: 8pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">KASA
                      WHOLEFOODS COMPANY SAS </font><font style="font-size: 8pt;">A FAVOR DE<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> FLORA GROWTH CORP. SUCURSAL COLOMBIA</font></font></div>
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                    <div style="text-align: center; margin-right: 1.65pt; font-weight: bold;">CARTA DE INSTRUCCIONES</div>
                    <div><br>
                    </div>
                    <div><br>
                    </div>
                    <div style="text-align: left; margin-right: 1.65pt;">Se&#241;ores:</div>
                    <div style="text-align: justify; margin-right: 1.65pt; font-weight: bold;">FLORA GROWTH CORP. SUCURSAL COLOMBIA</div>
                    <div style="text-align: left; margin-right: 1.65pt;">Bogot&#225;- Colombia</div>
                    <div><br>
                    </div>
                    <div style="text-align: justify; margin-right: 1.65pt;">REFERENCIA: AUTORIZACI&#211;N PARA LLENAR ESPACIOS EN BLANCO DEL PAGARE No. 101</div>
                    <div><br>
                    </div>
                    <div style="text-align: justify; margin-right: 1.65pt;"><font style="font-weight: bold;">SANTIAGO MORA BAHAMON</font>,
                      mayor de edad, identificado con C.C. 1.020.727.140, mayor de edad, actuando en representaci&#243;n de <font style="font-weight: bold;">KASA WHOLEFOODS COMPANY SAS</font>, una compa&#241;&#237;a regida por las leyes de la Rep&#250;blica de Colombia, constituida por documento privado No. 1 de asamblea de accionistas del 27 de junio de 2013,
                      inscrita el 02 de julio de 2013 bajo el n&#250;mero 01744035 en la C&#225;mara de Comercio de Bogot&#225;, identificada con NIT. 900.636.525-1, por medio del
                      presente escrito manifiesto que lo faculto a usted, de manera permanente e irrevocable para que, en caso de incumplimiento en el pago oportuno de alguna de las obligaciones que en mi calidad de deudor de <font style="font-weight: bold;">FLORA GROWTH CORP. SUCURSAL COLOMBIA</font>, regida por las leyes de Colombia e identificada bajo el NIT 901.379.188-1, representada en este documento por el se&#241;or <font style="font-weight: bold;">JOS&#201; REINALDO CASTELLANOS BERNAL</font>, o, a la persona
                      natural o jur&#237;dica a quien el mencionado acreedor ceda o endose sus derechos sobre este pagar&#233;; sin previo aviso, proceda a llenar los espacios en blanco del pagar&#233; No. 101, que he suscrito en la fecha a su favor y que se anexa, con
                      el fin de convertir el pagar&#233;, en un documento que presta m&#233;rito ejecutivo y que est&#225; sujeto a los par&#225;metros legales del Art&#237;culo 622 del C&#243;digo de Comercio, conforme con la siguiente precisi&#243;n:</div>
                    <div style="text-align: justify; margin-right: 1.65pt;"> <br>
                    </div>
                    <div style="text-align: left;">1. El espacio correspondiente a la fecha en que se debe hacer el pago se llenar&#225; con la fecha correspondiente al d&#237;a en que sea llenado el
                      pagar&#233;, fecha que se entiende</div>
                  </div>
                </td>
                <td style="width: 2%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 33.33%; text-align: left; vertical-align: top;">
                  <div>&#160;
                    <div style="background-color: #FFFFFF;">
                      <div style="text-align: center; margin-right: 1.1pt; font-weight: bold;"><font style="background-color: #FFFFFF;">INSTRUCTION LETTER</font></div>
                    </div>
                    <div style="background-color: #FFFFFF;">
                      <div><br>
                      </div>
                      <div><br>
                      </div>
                      <div><br>
                      </div>
                      <div style="text-align: justify; margin-right: 1.1pt; font-weight: bold;"><font style="background-color: #FFFFFF;">FLORA GROWTH CORP. BRANCH COLOMBIA</font></div>
                      <div style="text-align: justify; margin-right: 1.1pt;"><font style="background-color: #FFFFFF;">Bogota - Colombia</font></div>
                      <div><br>
                      </div>
                      <div><br>
                      </div>
                      <div style="text-align: justify; margin-right: 1.1pt;"><font style="background-color: #FFFFFF;">REFERENCE: AUTHORIZATION TO FILL IN BLANK SPACES OF PROMISSORY NOTE No. 101</font></div>
                      <div><br>
                      </div>
                      <div style="text-align: justify; margin-right: 1.1pt;"><font style="background-color: #FFFFFF; font-weight: bold;">SANTIAGO MORA BAHAMON</font><font style="background-color: #FFFFFF;">, of l</font>egal age, identified with C.C. 1.020.727.140, of legal<font style="background-color: #FFFFFF;"> age, acting on behalf of </font><font style="background-color: #FFFFFF; font-weight: bold;">KASA WHOLEFOODS COMPANY SAS</font><font style="background-color: #FFFFFF;">, a company governed by the laws of the Republic of Colombia,
                            constituted by private document No. 1 of the shareholders' meeting of June 27, 2013, registered on July 02, 2013 under number 01744035 in the Chamber of Commerce of Bogot&#225;, identified with NIT. 900.636.525-1, by means of this
                            manifest document that I empower you, permanently and irrevocably so that, in the event of failure to timely pay any of the obligations that in my capacity as debtor of </font><font style="background-color: #FFFFFF; font-weight: bold;">FLORA GROWTH CORP. BRANCH COLOMBIA</font><font style="background-color: #FFFFFF;">, governed
                            by the laws of Colombia and identified under NIT 901.379.188-1, represented in this document by </font><font style="background-color: #FFFFFF; font-weight: bold;">JOS&#201;
                            REINALDO CASTELLANOS BERNAL</font><font style="background-color: #FFFFFF;">, or, to the natural or legal person to whom the aforementioned creditor assigns or
                            endorses his rights on this promissory note; without prior notice, proceed to fill in the blanks of the promissory note No. 101, which I have signed on the date in your favor and which is attached, in order to convert the
                            promissory note, into a document that provides executive merit and is subject to the legal parameters of Article 622 of the Commercial Code, in accordance with the following precision:</font></div>
                      <div><br>
                      </div>
                    </div>
                    <div><font style="background-color: #FFFFFF;">1. The space corresponding to the date on which the payment must be made will be filled with the date
                        corresponding to the day</font></div>
                  </div>
                </td>
              </tr>
              <tr>
                <td style="width: 33.33%;">
                  <div>&#160; <br>
                  </div>
                </td>
                <td style="width: 2%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 33.33%;">
                  <div>&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="width: 33.33%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 2%;">
                  <div>&#160;</div>
                </td>
                <td style="width: 33.33%;">
                  <div>&#160;</div>
                </td>
              </tr>

          </table>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">Page 3 of 4</font></div>
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
          </div>
          <div>
            <table border="0" cellpadding="0" cellspacing="0">

                <tr>
                  <td style="width: 33.33%;">
                    <div>&#160;<img src="floralogo.jpg" height="61" border="0" width="54"></div>
                  </td>
                  <td colspan="2" rowspan="1" style="width: 33.33%;">
                    <div><font style="font-size: 8pt; font-family: 'Times New Roman',Times,serif;">PAGAR&#201; Y CARTA DE INSTRUCCIONES DE </font><font style="font-size: 8pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">KASA
                        WHOLEFOODS COMPANY SAS </font><font style="font-size: 8pt;">A FAVOR DE<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"> FLORA GROWTH CORP. SUCURSAL COLOMBIA</font></font></div>
                    <div>&#160;</div>
                  </td>
                </tr>

            </table>
          </div>
          <div> <br>
          </div>
          <div>
            <table id="zcbc4274993ee465c8fbef58fe8845859" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" border="0" cellpadding="0" cellspacing="0">

                <tr>
                  <td style="width: 33.33%;">
                    <div>que es la de su vencimiento.
                      <div><br>
                      </div>
                      <div style="text-align: justify; margin-right: 1.65pt;">En constancia de lo anterior, firmo el presente documento, el 1 de junio del a&#241;o 2020.</div>
                      <div><br>
                      </div>
                      <div><u><font style="font-style: italic;">/s/ Santiago Mora Bahamon</font></u><br>
                      </div>
                      <div style="text-align: left; margin-right: 1.65pt; font-weight: bold;">SANTIAGO MORA BAHAMON</div>
                      <div style="text-align: left; margin-right: 1.65pt;">C.C. 1.020.727.140</div>
                      <div style="text-align: left; margin-right: 1.65pt;">Representante Legal / Legal Representative <font style="font-weight: bold;">KASA WHOLEFOODS COMPANY SAS</font></div>
                      <div style="text-align: left; margin-right: 1.65pt;">NIT. 900.751.809-8</div>
                      <div style="text-align: left; margin-right: 1.65pt;">DEUDOR / DEBTOR</div>
                    </div>
                  </td>
                  <td style="width: 2%;">
                    <div>&#160;</div>
                  </td>
                  <td style="width: 33.33%; text-align: left; vertical-align: top;">
                    <div>
                      <div style="text-align: justify;"><font style="background-color: rgb(255, 255, 255);">on which the promissory note is filled, which date is understood to be the due date.</font></div>
                      <div style="background-color: rgb(255, 255, 255);">
                        <div><br>
                        </div>
                        <div style="margin-right: 1.1pt; font-family: 'Times New Roman',Times,serif; text-align: justify;"><font style="background-color: rgb(255, 255, 255);">In proof of the foregoing, I sign this document on
                            June 1, 2020.</font></div>
                      </div>
                    </div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 33.33%;">
                    <div>&#160;</div>
                  </td>
                  <td style="width: 2%;">
                    <div>&#160;</div>
                  </td>
                  <td style="width: 33.33%;">
                    <div>&#160;</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 33.33%;">
                    <div>&#160;</div>
                  </td>
                  <td style="width: 2%;">
                    <div>&#160;</div>
                  </td>
                  <td style="width: 33.33%;">
                    <div>&#160;</div>
                  </td>
                </tr>

            </table>
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        </div>
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  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;">Page 4 of 4</font></div>
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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX1SA-6 MAT CTRCT
<SEQUENCE>5
<FILENAME>ex625.htm
<DESCRIPTION>LOAN AGREEMENT DATED APRIL 17, 2020 BETWEEN FLORA GROWTH CORP. AND CONSULTANCES AND CONSULTANCIES OF LATAM BY GM LLC
<TEXT>
<html>
  <head>
    <title></title>
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<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
  <!--PROfilePageNumberReset%Num%1%%%-->
  <div>
    <hr style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;" align="center"><br>
    <div style="text-align: center; font-weight: bold;"><u>LOAN AGREEMENT</u></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="margin-left: 42pt;">THIS LOAN AGREEMENT is dated as of April 17, 2020.</div>
    <div><br>
    </div>
    <div style="margin-left: 6pt;">BETWEEN:</div>
    <div><br>
    </div>
    <div style="margin-left: 78pt; font-weight: bold;">CONSULTANCES AND CONSULTANCIES OF LATAM BY GM</div>
    <div style="margin-right: 130.15pt; margin-left: 77.95pt;"><font style="font-weight: bold;">LLC</font>, a corporation existing pursuant to the laws of Delaware (the &#8220;<font style="font-weight: bold;">Borrower</font>&#8221;)</div>
    <div style="margin-left: 5.95pt;">AND:</div>
    <div><br>
    </div>
    <div style="margin-right: 78.05pt; margin-left: 77.95pt;"><font style="font-weight: bold;">FLORA GROWTH CORP.</font>, a corporation existing pursuant to the laws of the Provinces of Ontario</div>
    <div><br>
    </div>
    <div style="margin-left: 77.95pt;">(the &#8220;<font style="font-weight: bold;">Lender</font>&#8221;)</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.85pt; margin-left: 5.95pt;">WHEREAS the Borrower has requested, and the Lender has agreed to provide a non-revolving term loan facility to the Borrower in a maximum principal amount of
      CAD$100,000 (the &#8220;<font style="font-weight: bold;">Loan</font>&#8221;) on the terms and conditions of this Loan Agreement.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.85pt; margin-left: 5.95pt;">NOW THEREFORE this Loan Agreement witnesses that in consideration of the premises and the mutual covenants and agreements contained herein, the parties
      hereto covenant and agree as follows:</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z61ce844060644f14afb606b152c3ab7f" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top; align: right;">
              <div style="margin-left: 6pt; font-weight: bold;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;"><u>Definitions</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="margin-right: 35.6pt; margin-left: 6pt;">In this Loan Agreement, unless something in the subject matter or context is inconsistent therewith: &#8220;<font style="font-weight: bold;">Advance</font>&#8221; has the meaning ascribed to it in Section 2
      below.</div>
    <div style="margin-right: 35.6pt; margin-left: 6pt;"> <br>
    </div>
    <div style="margin-right: 6.8pt; margin-left: 6pt;">&#8220;<font style="font-weight: bold;">Business Day</font>&#8221; means a day on which banks are open for business in Toronto, Ontario but does not in any event include a Saturday or a Sunday.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-right: 6.65pt; margin-left: 5.95pt;">&#8220;<font style="font-weight: bold;">Control</font>&#8221; means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of
      a person, whether through the ability to exercise voting power, by contract or otherwise.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: -0.05pt; margin-right: 123.95pt; margin-left: 6pt;">&#8220;<font style="font-weight: bold;">Event of Default</font>&#8221; shall have the meaning ascribed to such term in Section 11. </div>
    <div style="text-align: justify; text-indent: -0.05pt; margin-right: 123.95pt; margin-left: 6pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: -0.05pt; margin-right: 123.95pt; margin-left: 6pt;">&#8220;<font style="font-weight: bold;">Maturity Date</font>&#8221; has the meaning ascribed to it in Section 4 herein.</div>
    <div style="text-align: justify; text-indent: -0.05pt; margin-right: 123.95pt; margin-left: 6pt;"> <br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2e8807fdf0d64e2c8b29007bff64ed39" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top; align: right;">
              <div style="margin-left: 6pt; font-weight: bold;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-weight: bold;"><u>Availability</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 41.95pt; vertical-align: top;">
                <div style="margin-left: 5.95pt; font-family: 'Times New Roman',Times,serif;">2.1</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">Unless otherwise agreed to by the Lender and the Borrower, and subject to the terms and conditions of this Loan Agreement, the Loan shall be advanced by way of
                  one single advance (the &#8220;<font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Advance</font>&#8221;) on the date hereof from the Borrower to the Lender, in an amount equal to CAD$100,000 to the following account:</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">1</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
    <div>
      <div style="margin-right: 36.1pt; margin-left: 6pt; font-family: 'Times New Roman',Times,serif;">Bank: <font style="background-color: rgb(0, 0, 0); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">Bank of America </font></div>
      <div style="margin-right: 36.1pt; margin-left: 6pt; font-family: 'Times New Roman',Times,serif;">Beneficiary: <font style="background-color: rgb(0, 0, 0); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">consultancies and consultancies of latam by GM LLC </font></div>
      <div style="margin-right: 36.1pt; margin-left: 6pt; font-family: 'Times New Roman',Times,serif;">Account Number: <font style="background-color: rgb(0, 0, 0); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">898099593963.</font></div>
      <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif;">Swift: <font style="background-color: rgb(0, 0, 0); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">BOFAUS3N</font></div>
      <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif;">Routing <font style="background-color: rgb(0, 0, 0); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">Number: 026009593</font></div>
      <div style="margin-right: 78.05pt; margin-left: 6pt; font-family: 'Times New Roman',Times,serif;">Address of Beneficiary: <font style="background-color: rgb(0, 0, 0); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">888 Biscayne Bulevar Office 1909, Miami, <br>
        </font></div>
      <div style="margin-right: 78.05pt; margin-left: 6pt; font-family: 'Times New Roman',Times,serif;"><font style="background-color: rgb(0, 0, 0); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;"></font>Address of the Bank: <font style="background-color: rgb(0, 0, 0); font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">701 Brickell, Miami, Florida 33131</font></div>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze1738d0ae04444d5b9f7e6793c344e35" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Principal and Interest</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za53770a8ea734fbabb131288552b9ff5" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 41.95pt; vertical-align: top;">
              <div style="margin-left: 5.95pt; font-family: 'Times New Roman',Times,serif;">3.1</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">The Borrower shall pay to the Lender interest on all amounts outstanding under the Loan at the rate of 5.0% per annum calculated in arrears and payable on the
                Maturity Date (as defined below).</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6956ce84b4904f3f8fe852409024be55" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif;">3.2</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif;">All amounts outstanding under the Loan shall be repaid in full on the Maturity Date.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z45f133b8c5984909a1dba9d614c1f73a" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Maturity</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.55pt; margin-left: 5.95pt;">The outstanding amount of all obligations of the Borrower to the Lender hereunder shall become due and payable in full on the date which is sixty (60) days
      following the date hereof (the &#8220;<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Maturity Date</font>&#8221;).</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd36a91e9a0764947bfe501c404b7df89" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Prepayment</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 6pt;">The Borrower may prepay the whole, or from time to time, any part of the amounts outstanding under the Loan at any time without penalty.</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4abb56e4ec6b492e846247812d4dcd0f" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">6.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Representations and Warranties</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 6pt;">To induce the Lender to advance the Loan to the Borrower on the terms herein contained, the Borrower hereby represents and covenants to the Lender that:</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z428640eeb355443889843e4032ea4c3d" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(a)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">the Borrower is a validly existing company under the laws of the Province of Ontario and has all requisite power and authority to own its assets and to carry on its
                business as such business is presently carried on;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6e6fe19f8dff48629d12da4918a80a4f" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(b)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">the Borrower has full power, capacity, authority and legal right to borrow in the manner and on the terms and conditions set out in this Loan Agreement, and has
                full power, capacity, authority and legal right to execute and deliver this Loan Agreement and to do all such acts and things as are required to be done, observed and performed in accordance with the terms of this Loan Agreement;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf006e27f5e35473a81da006e19288bf8" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(c)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">all corporate acts and proceedings on the part of the Borrower, necessary to authorize the execution, delivery and performance of this Loan Agreement has been duly
                taken by the Borrower, and this Loan Agreement have been or will be duly executed and delivered by the Borrower, and constitute or will constitute valid and legally binding agreements of the Borrower, enforceable against it in accordance
                with the terms thereof;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2c04096bda31435b96e6003d65e5a76a" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(d)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">the execution and delivery of this Loan Agreement and the performance of or compliance with their terms will not result in a breach or constitute a default under,
                or require any consent under the terms or conditions of any agreement or instrument to which the Borrower is a party or by which the Borrower is bound;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z92b64c03a7a44233ac04b5f6da48b3d1" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(e)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">the Borrower is not in default under any agreement or instrument to which it is a party and which default would materially adversely affect the ability of the
                Borrower to observe and perform its obligations hereunder; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf404fdca9c174c34b2d5286732a64f7d" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(f)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">there are no actions, suits or proceedings pending or, to the knowledge of the Borrower, threatened against or affecting it or any of its undertakings and assets,
                at law, in equity or before any arbitrator or before or by any governmental department, body, commission, board, bureau, agency or instrumentality having jurisdiction in the premises in respect of which there is a reasonable possibility of
                a determination adverse to the Borrower and which could, if determined adversely, materially and adversely affect the ability of the Borrower to perform any of its obligations under this Loan Agreement and the Borrower is not in default
                with respect to any law, regulation, order, writ, judgment, injunction or award of any competent government, commission, board, agency, court, arbitrator or instrumentality which would have such an effect.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z70285876bfe24cfe891a0f7921ed22ba" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">7.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Payment Dates</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.75pt; margin-left: 6pt;">If the date upon which any payment hereunder is required to be done or made falls on a day which is not a Business Day, then such act or payment shall be
      performed or made on the following Business Day. All payments required to be made hereunder which are received by the Lender after 11:59 p.m. (Toronto time) will be deemed for all purposes of this Loan Agreement to have been received by the Lender on
      the next Business Day. </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcd95c2b2c9714f92957c43e202fdc36f" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">8.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Conditions Precedent</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 6pt;">The obligation of the Lender to advance the Loan to the Borrower is subject to the following, it being understood that these conditions precedent are for the exclusive benefit of the Lender:</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1946166458314dd8b057c2235f61ee1d" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 78pt; vertical-align: top;">
              <div style="margin-left: 42pt; font-family: 'Times New Roman',Times,serif;">(a)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif;">the Borrower shall have executed and delivered this Loan Agreement to the Lender; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf012ea62fa264c74aeaa08f9d3f548b0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(b)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">the Borrower shall have delivered to the Lender such other information and documents as the Lender may reasonably request.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z422eb14630534997a5c818e4288807a0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">9.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Affirmative Covenants</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 6pt;">So long as any amount payable hereunder is outstanding, the Borrower covenants and agrees with the Lender that, unless the Lender otherwise consents in writing:</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8f6fbde15b3a40e39769025b0c4af439" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(a)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">the Borrower shall duly and punctually pay the Loan and all interest in the manner specified hereunder;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z75d2a0881e1d494f8833c7ccbbe5f05b" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(b)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">the Borrower shall maintain its existence, as applicable, in good standing and do or cause to be done all things necessary to keep in full force and effect all
                properties, rights, franchises, licences and qualifications to carry on business in any jurisdiction in which it carries on business and it shall maintain all of its properties and assets consistent with industry standards;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8a7b52aec1ea498fb8371071ba899ad6" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(c)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">the Borrower shall do or cause to be done all acts necessary or desirable to comply with all material applicable federal, provincial, regulatory and municipal laws,
                requirements or standards, and to preserve and keep in full force and effect all material regulatory requirements, franchises, licences, rights, privileges and permits necessary to enable the Borrower to operate and conduct its business in
                accordance with standard industry practice and to advise the Lender of any anticipated changes, loss or sale of such material franchises, licences, rights, privileges and permits; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z262c01c1eb894bb49fbd8117d04f78bd" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(d)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">the Borrower shall deliver to the Lender, forthwith upon becoming aware of any default in the performance of any covenant, agreement or condition contained in this
                Loan Agreement or the occurrence of an Event of Default, a certificate of an officer of the Borrower, specifying such default or defaults or such event.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5d51037383b94056adbe7f5072171556" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">10.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Negative Covenants</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-left: 6pt;">So long as any amount payable hereunder is outstanding, the Borrower covenants and agrees with the Lender that, unless the Lender otherwise consents in writing:</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z19048e4568fa4921b26fd01755b93985" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(a)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">the Borrower shall not pay distributions or dividends on any shares or pay any amount to redeem, reduce, purchase or retire in any manner any shares;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2cc8aadc94e841d6bf95bfcb5ba9e97f" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(b)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">the Borrower shall not repay any shareholder or related party loans or make any&#160; payments to management, other than in the ordinary course of business;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2a81ec3833ea429183391ccbbb57b740" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(c)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">the Borrower shall not pledge or dispose of its assets other than in the ordinary course of business;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb463284840a84ec586d06965cb3f9953" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 78pt; vertical-align: top;">
              <div style="margin-left: 42pt; font-family: 'Times New Roman',Times,serif;">(d)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif;">the Borrower shall not liquidate, dissolve or wind-up; or</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4e2d04f94a8b4cc28acb63907e516720" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(e)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">the Borrower shall not permit Control of the Borrower to change from the persons that Controls the Borrower as at the date hereof.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8b28e4d6082d48d2921e2ad51cc2b3f8" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">11.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Events of Default</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; margin-right: 35.6pt; margin-left: 6pt;">Any one or more of the following events shall constitute an event of default of this Loan Agreement (an &#8220;<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Event of Default</font>&#8221;):</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd145c238291240d59bb9233e7f7d535d" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.9pt; font-family: 'Times New Roman',Times,serif;">(a)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif;">if the Borrower defaults in payment of:</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z04d0fac1dc24461da901329833eb6dfb" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 113.95pt; vertical-align: top;">
              <div style="margin-left: 77.9pt; font-family: 'Times New Roman',Times,serif;">(i)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif;">the principal of the Loan when due;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze164b0866025419fb066cb9a52976e2b" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 113.95pt; vertical-align: top;">
              <div style="margin-left: 77.9pt; font-family: 'Times New Roman',Times,serif;">(ii)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif;">any interest or fee payable herein when due and payable; or</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2a14a3bc36394a8ab531c47651da9540" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 113.95pt; vertical-align: top;">
              <div style="margin-left: 77.95pt; font-family: 'Times New Roman',Times,serif;">(iii)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>any other amount not specifically referred to herein payable by the Borrower hereunder when due and payable; provided that the Borrower shall have ten (10) Business Days to cure any such failure to pay;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z31982cbbd2c74f1fb71f93c50b3aa27f" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(b)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">failure by the Borrower to perform or observe any of its covenants, conditions or agreements to be performed by it in or breach of any term of this Loan Agreement,
                provided that the Borrower shall have thirty (30) Business Days to cure any such default</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3a031edf132c430a823ff4b75cae1893" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(c)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">if any representation or warranty made by the Borrower in this Loan Agreement or in any certificate or other document at the time of the Advance hereunder shall
                prove to have been incorrect or misleading in any material respect on and as of the date thereof, provided that the Borrower has thirty (30) days to cure any such default;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z651d5792f7b249f1b8bdfbc3ac8a4b09" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(d)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">if a decree or order of a court of competent jurisdiction is entered adjudging the Borrower a bankrupt or insolvent or approving as properly filed a petition
                seeking the winding-up of the Borrower under the <font style="font-style: italic;">Companies&#8217; Creditors Arrangement Act </font>(Canada), the <font style="font-style: italic;">Bankruptcy and Insolvency Act </font>(Canada) or the <font style="font-style: italic;">Winding-up and Restructuring Act </font>(Canada) or any other bankruptcy, insolvency or analogous laws or issuing sequestration or process of execution against, or against any substantial part of the assets of
                the Borrower or ordering the winding up or liquidation of its affairs;</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zecebf2b45319489abae384461f0ca516" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(e)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">if the Borrower becomes insolvent, makes any assignment in bankruptcy or makes any other assignment for the benefit of creditors, makes any proposal under the <font style="font-style: italic;">Bankruptcy and Insolvency Act </font>(Canada) or any comparable law, seeks relief under the <font style="font-style: italic;">Companies&#8217; Creditors Arrangement Act </font>(Canada), the <font style="font-style: italic;">Winding-up and Restructuring Act </font>(Canada) or any other bankruptcy, insolvency or analogous law, is adjudged bankrupt, files a petition or proposal to take advantage of any act of insolvency, consents to
                or acquiesces in the appointment of a trustee, receiver, receiver and manager, interim receiver, custodian, sequestrator or other person with similar powers of itself or of all or any substantial portion of its assets, or files a petition
                or otherwise commences any proceeding seeking any reorganization, arrangement, composition or readjustment under any applicable bankruptcy, insolvency, moratorium, reorganization or other similar law affecting creditors&#8217; rights or consents
                to, or acquiesces in, the filing of such a petition; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zae6fd2ba46a4404c8905793fd2b1388c" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 77.95pt; vertical-align: top;">
              <div style="margin-left: 41.95pt; font-family: 'Times New Roman',Times,serif;">(f)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">if proceedings are commenced for the dissolution, liquidation or winding-up of the Borrower for the suspension of the operations of the Borrower unless such
                proceedings are being actively and diligently contested in good faith.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z64a7b60a2460438f88f53f78eb80c2fe" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">12.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Remedies Upon Default</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.75pt; margin-left: 6pt;">Upon the occurrence of an Event of Default and at any time thereafter, provided that the Borrower has not remedied any such outstanding Event of Default, as
      applicable, the Lender may, in its discretion, by notice to the Borrower, declare this Loan Agreement to be in default. At any time thereafter, while the Borrower has not remedied all outstanding Events of Default, the Lender may, in its discretion,
      declare the then outstanding balance of the Loan, interest, costs and all moneys owing by the Borrower and all liabilities of the Borrower hereunder to be immediately due and payable and such moneys and liabilities shall forthwith become due and
      payable without presentment, demand, protest or other notice of any kind to the Borrower, all of which are hereby expressly waived.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">5</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-right: 6.7pt; margin-left: 5.95pt;">No remedy herein conferred on the Lender is intended to be exclusive and each and every remedy shall be cumulative and shall be in addition to every other remedy given
      hereunder or now or hereafter existing at law or in equity or by statute or otherwise.</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0a159f13539148f8be039a82b08deca5" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">13.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Currency</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.8pt; margin-left: 6pt;">All payments hereunder shall be made in lawful money of Canada and may be made by bank draft, certified cheque or any other form of payment acceptable to the
      Lender payable at par at Toronto, Ontario on or before 12:00 p.m. on the due date.</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z241e95c4b67341a3a6f3b129439ab3b5" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">14.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Assignment</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.7pt; margin-left: 6pt;">The Borrower will not, without the prior written consent of the Lender, assign any of its rights under this Loan Agreement. The Lender may assign, in whole or
      in part, its rights under this Loan Agreement upon notice to the Borrower and without the consent of the Borrower.</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zda214e7689bd46059c16ba035af7cf5e" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">15.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Enurement</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.9pt; margin-left: 6pt;">This Loan Agreement shall enure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators, successors and
      permitted assigns.</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0f0fa94e58ca4946b28d4b3c4ef0ba71" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">16.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Further Assurances</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.75pt; margin-left: 6pt;">Each of the parties hereto hereby covenants and agrees to execute such further and other documents and instruments and to do such further and other things as
      may be reasonably necessary to implement and carry out the intent of this Loan Agreement.</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z74aa59799ab84267a44f48eb92e108bc" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">17.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Governing Law</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.8pt; margin-left: 6pt;">This Loan Agreement shall be governed by and construed in accordance with the laws of the Province of Ontario which shall be deemed to be the proper law hereof.
      The parties hereby irrevocably attorn to the non-exclusive jurisdictions of the courts of the Province of Ontario sitting in the city of Toronto.</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8bb57e49e9c44fd0aac391086511e549" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">18.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Notice</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.7pt; margin-left: 6pt;">Any notice or communication to be given hereunder may be effectively given by delivering the same at the addresses hereinafter set forth or by sending the same
      by electronic mail to the parties at the email addresses noted below. Any email notice shall be deemed to have been received on the date sent (unless the sender receives a delivery failure message) if sent during business hours on a Business Day and,
      if not, on the Business Day following the date sent (unless the sender receives a delivery failure message). The delivery and email addresses of the parties for the purposes hereof shall be as follows:</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">6</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; margin-left: 45pt;">if to Borrower:</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; margin-left: 45pt;">Consultances and consultancies of Latam by GM LLC</div>
    <div style="font-family: 'Times New Roman',Times,serif; margin-left: 45pt;">888 Biscayne Blv Suite 1909</div>
    <div style="font-family: 'Times New Roman',Times,serif; margin-left: 45pt;">Miami, Florida 33132</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; margin-left: 45pt;">Attention: Gabriel Morales</div>
    <div style="font-family: 'Times New Roman',Times,serif; margin-left: 45pt;">Email: nuevo999@gmail.com</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; margin-left: 45pt;">if to the Lender:</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; margin-left: 45pt;">Flora Growth Corp.</div>
    <div style="font-family: 'Times New Roman',Times,serif; margin-left: 45pt;">65 Queen Street West, Suite 800</div>
    <div style="font-family: 'Times New Roman',Times,serif; margin-left: 45pt;">Toronto, Ontario M5H 2M5</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; margin-left: 45pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Attention:</font>&#160; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Damian Lopez</font></div>
    <div style="font-family: 'Times New Roman',Times,serif; font-size: 12pt; margin-left: 45pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Email:</font>&#160; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">damian.lopez@floragrowth.ca</font></div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zddd27e29407a45faa79be69a38710467" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">19.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Maximum Rate</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.55pt; margin-left: 5.95pt;">The Borrower acknowledges and agrees that the payment of interest and any bonus and further consideration to the Lender is a fair payment based on the
      business terms of the Loan. The Borrower and the Lender acknowledge and agree that it is their express intention and desire that in no event shall the total payment to the Lender whether for interest, fees, additional consideration or otherwise
      exceed the maximum payment permitted under Section 347 of the <font style="font-family: 'Times New Roman',Times,serif; font-style: italic;">Criminal Code</font>, R.S.C., 1985 c. C-46, as amended, and the parties further acknowledge and agree that
      notwithstanding any other terms or conditions of this Loan Agreement, the interest payable on the credit advanced under this Loan Agreement (as &#8220;interest&#8221; and &#8220;credit advanced&#8221; are defined in Section 347 of the <font style="font-family: 'Times New Roman',Times,serif; font-style: italic;">Criminal Code</font>, R.S.C., 1985 c.C-46, as amended) shall not exceed an effective annual rate of interest of 60.0% calculated in accordance with generally accepted actuarial practices and principles. If
      the Borrower would, but for this clause, be obligated to pay interest on the credit advanced under this Loan Agreement at a criminal rate (as &#8220;interest&#8221; &#8220;credit advanced&#8221; and &#8220;criminal rate&#8221; are defined in Section 347 of the <font style="font-family: 'Times New Roman',Times,serif; font-style: italic;">Criminal Code</font>, R.S.C., 1985 c. C-46, as amended), the interest payable on the credit advanced under this Loan Agreement shall be reduced to an effective annual rate of
      60.0%, calculated in accordance with generally accepted actuarial practices and principles, firstly by reducing the amount of interest payable to the Lender, secondly (if required) by crediting any remaining excess that has been paid towards
      prepayment of the Loan, and thirdly (if required) by returning to the Borrower upon demand therefor any overpayment that may remain after&#160; such crediting.</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf7fdd8ad3e0d448bb727f0d55ca0bc51" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 42pt; vertical-align: top;">
              <div style="margin-left: 6pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">20.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;"><u>Severability</u></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-right: 6.65pt; margin-left: 6pt;">Should any part of this Loan Agreement be declared or held invalid for any reason, such invalidity shall not affect the validity of the remainder which shall
      continue in force and effect and be construed as if this Loan Agreement had been executed without the invalid portion and it is hereby declared the intention of the parties hereto that this Loan Agreement would have been executed without reference to
      any portion which may, for any reason, be hereafter declared or held invalid.</div>
    <div><br>
    </div>
    <div style="text-align: center; margin-right: 185.2pt; margin-left: 184.4pt;">[<font style="font-family: 'Times New Roman',Times,serif; font-weight: bold; font-style: italic;">signature page follows</font>]</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">7</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
    </div>
    <div><br>
    </div>
    <div style="text-indent: 35.95pt; margin-right: 22pt; margin-left: 6pt;">IN WITNESS WHEREOF the parties hereto have executed this Loan Agreement as of the day first set out above.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="margin-left: 6pt; font-weight: bold;"><u>BORROWER</u></div>
    <div><br>
    </div>
    <div style="margin-left: 6pt; font-weight: bold;">CONSULTANCES AND CONSULTANCIES</div>
    <div style="margin-right: 229.1pt; margin-left: 6pt;"><font style="font-weight: bold;">OF LATAM BY GM LLC, </font>by its authorized signatory:</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="margin-left: 6pt;">Per:<font style="display: inline-block; text-indent: 0px; width: 201.1pt;" id="TRGRRTFtoHTMLTab">&#160; <u>/s/Gabriel Morales</u><br>
      </font></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="margin-left: 5.95pt; font-weight: bold;"><u>LENDER</u></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="margin-right: 229.1pt; margin-left: 5.95pt;"><font style="font-weight: bold;">FLORA GROWTH CORP.</font>, by its authorized signatory:</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="margin-left: 5.95pt;">Per:<font style="display: inline-block; text-indent: 0px; width: 201.1pt;">&#160; <u>/s/Deborah Battiston</u><font style="background-color: rgb(255, 255, 0); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-style: normal; font-variant: normal; text-transform: none;"><br>
        </font></font></div>
    <div style="margin-left: 5.95pt;"><font style="display: inline-block; text-indent: 0px; width: 201.1pt;"><font style="background-color: rgb(255, 255, 0); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-style: normal; font-variant: normal; text-transform: none;"> <br>
        </font></font></div>
    <div style="margin-left: 5.95pt;"><font style="display: inline-block; text-indent: 0px; width: 201.1pt;"><font style="background-color: rgb(255, 255, 0); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-style: normal; font-variant: normal; text-transform: none;"> <br>
        </font></font></div>
    <div style="margin-left: 5.95pt;"><font style="display: inline-block; text-indent: 0px; width: 201.1pt;"><font style="background-color: rgb(255, 255, 0); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-style: normal; font-variant: normal; text-transform: none;"> <br>
        </font></font></div>
    <div style="margin-left: 5.95pt;"><font style="display: inline-block; text-indent: 0px; width: 201.1pt;"><font style="background-color: rgb(255, 255, 0); font-weight: normal; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-style: normal; font-variant: normal; text-transform: none;"> <br>
        </font></font></div>
  </div>
  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">8</font></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX1SA-6 MAT CTRCT
<SEQUENCE>6
<FILENAME>ex626.htm
<DESCRIPTION>LOAN AGREEMENT DATED JUNE 18, 2019 BETWEEN FLORA GROWTH CORP. AND Q-GOLD RESOURCES LTD.
<TEXT>
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    <div><br>
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    <div>
      <div style="text-align: center; font-weight: bold;"><u>LOAN AGREEMENT</u></div>
      <div style="margin-top: 0.55pt;"><br>
      </div>
      <div style="margin-top: 4.6pt; font-weight: bold;">BETWEEN:</div>
      <div style="margin-top: 0.1pt;"><br>
      </div>
      <div style="text-align: justify; text-indent: 0.35pt;"><font style="font-weight: bold;">Q-GOLD RESOURCES LTD., </font>a
        corporation continued under the laws of the Province of Ontario and having an office at 65 Queen Street West, Suite 800, Toronto, Ontario, M5H <font style="font-family: 'Times New Roman',Times,serif; font-style: normal;">2M5</font></div>
      <div style="text-align: justify;">(hereinafter called the "Company" or the "Lender")</div>
      <div><br>
      </div>
      <div style="font-weight: bold;">OF THE FIRST PART</div>
      <div style="font-weight: bold;"> <br>
      </div>
      <div>-and-</div>
      <div style="margin-top: 0.5pt;"><br>
      </div>
      <div style="text-indent: 0.45pt; margin-top: 4.6pt;"><font style="font-weight: bold;">COSECHEMOS YA
          S.A.S., </font>a corporation existing pursuant to the laws of Colombia</div>
      <div style="margin-top: 0.05pt;">(hereinafter referred to as the "Borrower")</div>
      <div style="margin-top: 0.1pt;"><br>
      </div>
      <div style="font-weight: bold;">OF THE SECOND PART</div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 33.05pt;"><font style="font-weight: bold;">WHEREAS </font>the Lender and the
        Borrower have agreed to enter into an arrangement whereby the Lender has agreed to lend and the Borrower has agreed to borrow USD$16,667 (the "Loan") subject to the terms and conditions contained herein;</div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: justify; text-indent: 32.95pt;"><font style="font-weight: bold;">AND WHEREAS </font>the Borrower
        requires the Loan on a short-term basis to cover working capital needs;</div>
      <div style="margin-top: 0.35pt;"><br>
      </div>
      <div style="text-align: justify; text-indent: 33.35pt; margin-top: 0.05pt;"><font style="font-weight: bold;">NOW THEREFORE </font>in
        consideration of the mutual promises and covenants hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, hereby agree as follows:</div>
      <div style="margin-top: 0.15pt;"><br>
      </div>
      <div><font style="font-weight: bold;">1.</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </font><font style="font-weight: bold;">The Loan</font></div>
      <div style="margin-top: 0.2pt;"><br>
      </div>
      <div style="text-align: justify; text-indent: 16.6pt;">The Lender hereby agrees to lend to the Borrower the
          principal sum of USD$16,667 in lawful money of the United States of America (the "Principal") . Interest shall be payable on the Principal, as well as interest on interest accrued and unpaid when due and shall be calculated and payable at a rate of 10.0% per annum {the "Interest Rate") and in accordance with the terms
          of this Loan Agreement.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div><font style="font-weight: bold;">2.</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </font><font style="font-weight: bold;">Repayment</font></div>
      <div style="text-align: justify; text-indent: 33.15pt;"> <br>
      </div>
      <div style="text-align: justify; text-indent: 16.6pt;">The Borrower shall repay the Loan (including the Principal and accrued interest) in cash on demand by the Lender. The Borrower and
        the Lender may negotiate repayment of the Loan via the transfer of securities or other investment products but any arrangement for repayment other than cash remains subject to a subsequent written agreement.</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">1</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      </div>
      <div><br>
      </div>
      <div style="margin-top: 3.95pt;"><font style="font-weight: bold;">3.</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </font><font style="font-weight: bold;">Conditions of Advance</font></div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: justify; text-indent: 32.25pt;">The Lender agrees to advance the Loan in whole (being
          USD$ l6,667) upon the execution of this Agreement by the Lender, solely on the condition that the Loan is used by the Borrower towards working capital needs.</div>
      <div><br>
      </div>
      <div><font style="font-weight: bold;">4.</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </font><font style="font-weight: bold;">Waiver of Formalities</font></div>
      <div style="margin-top: 0.2pt;"><br>
      </div>
      <div><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;</font>The Lender hereby waives presentment, notice of dishonour and protest.</div>
      <div style="text-align: justify; text-indent: 32.95pt; margin-top: 0.05pt;"><font style="font-weight: bold;"> <br>
        </font></div>
      <div style="margin: 0.05pt 0px 0px; text-align: justify;"><font style="font-weight: bold;">5.<font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </font></font><font style="font-weight: bold;">Waivers Generally</font></div>
      <div style="text-align: justify; text-indent: 32.95pt; margin-top: 0.05pt;"> <br>
      </div>
      <div style="text-align: justify; text-indent: 32.95pt; margin-top: 0.05pt;">No waiver of any right or remedy of the Lender hereunder shall be effective unless in writing and signed by the
        Lender and any waiver granted by the Lender shall be effective only to the extent and in the circumstances specified therein. No failure, delay or omission by the Lender to exercise or enforce any rights or remedies under this note or any security
        collateral hereto shall constitute a waiver thereof or of any other rights or remedies of the Lender.</div>
      <div style="margin-top: 0.5pt;"><br>
      </div>
      <div><font style="font-weight: bold;">6.</font><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;"> </font><font style="font-weight: bold;">Assigns, Successors and Governing Law</font></div>
      <div style="margin-top: 0.2pt;"><br>
      </div>
      <div style="text-align: justify; text-indent: 32.45pt; margin-top: 0.05pt;">This note shall not be assignable by the Borrower without the prior written consent of the Lender. This note
        shall enure to the benefit of and be binding upon the respective successors of the Borrower and the Lender and the assigns of the Lender and the permitted assigns of the Borrower. This note shall be governed by and construed in accordance with the
        laws of the Province of Ontario.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="text-align: center; font-style: italic;">[signature page follows]</div>
      <div style="margin-top: 6.25pt;"><br>
      </div>
      <div style="margin-top: 6.25pt;"><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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          <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
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      <div style="margin-top: 6.25pt;"><br>
      </div>
      Dated as of the 18<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> day of June 2019
      <div><br>
      </div>
      <div style="margin-top: 0.15pt;"><br>
      </div>
      <div style="margin-top: 4.55pt; font-weight: bold;">Q-GOLD RESOURCES LTD.</div>
      <div><br>
      </div>
      <div><u>By: /s/Fred Leigh</u><br>
      </div>
      <div>Authorized Signing Officer</div>
      <div style="margin-top: 0.4pt;"><br>
      </div>
      <div><br>
      </div>
      <div style="margin-top: 0.1pt;"><br>
      </div>
      <div style="font-weight: bold;">COSECHEMOS YA S.A.S.</div>
      <div><br>
      </div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div><u>By: /s/Damian Lopez</u><br>
      </div>
      <div>Authorized Signing Officer</div>
      <div> <br>
      </div>
      <div> <br>
      </div>
      <div> <br>
      </div>
    </div>
  </div>
  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
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