The cannabis production company and its derivative products Flora Growth announced a rebranding and raised $401 million. This is part of the company's strategy to create a treasury based on 0G, the Zero Gravity blockchain token.
#ZeroGravity — this is a first-level blockchain developed specifically for decentralized AI applications and compatible with EVM. 0G is its native token.
According to the firm's release, 0G Labs, the developer of the network, successfully trained a model with 107 billion parameters using distributed clusters based on low-speed internet connections. Zero Gravity is essentially a modular architecture for deploying AI solutions directly on the blockchain.
The Token Generation Event (TGE) 0G is expected on September 22, 2025. Some major centralized cryptocurrency exchanges, including Kraken and Gemini, have already announced its listing.
Against the backdrop of 0G Labs preparing for the TGE, Flora Growth announced the creation of a treasury based on the 0G token. It also intends to change its name to @Binance South Asia ZeroStack, but will retain the stock ticker @FLGC.
As part of the transition to a new strategy, the firm announced a private placement (PIPE) of $401 million. Participants included counterparties such as DeFi Development Corp., Hexstone Capital, Carlsberg SE Asia PTE Ltd., and others.
Of the indicated amount, $35 million will be contributed in cash. Another $366 million will be in crypto assets, primarily 0G at a price of $3. The deal is expected to close on September 26, 2025. After that, the company will direct the profits toward expanding its portfolio.#ZEN/USDT @Binance Ukraine #zkairdrop $BTC
