Flora Progress, an organization listed on Nasdaq and recognized for its hashish and CBD merchandise, has began a $401 million treasury plan to assist develop Zero Gravity, a blockchain-based synthetic intelligence (AI) platform.
Flora will even change its title to ZeroStack, though it is going to proceed to commerce below the ticker FLGC, in keeping with a September 19 press launch.
This monetary technique is structured by way of a personal placement, the place $35 million will probably be offered in money, and the remaining $366 million will come within the type of digital belongings, primarily Zero Gravity tokens.
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Whereas the corporate is increasing into digital know-how, it has not deserted its hashish enterprise. Flora constructed its basis rising hashish in Colombia and later expanded into the US market by buying JustCBD in 2022.
The treasury effort is being led by DeFi Growth Corp. (DFDV), a agency with ties to the Solana ecosystem. Different companions embody Hexstone Capital, Carlsberg SE Asia, Dao5, Summary Ventures, and Dispersion Capital. Flora will even maintain a part of its digital reserves in SOL
$222.22
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Zero Gravity’s know-how focuses on enhancing how AI fashions use distributed methods. The group claims its system can prepare fashions with as much as 107 billion parameters and is extra environment friendly, as much as 357 occasions, than different related platforms.
Daniel Reis-Faria, who will step in as CEO, described the treasury initiative as a option to supply establishments an opportunity to put money into safe and clear AI infrastructure by way of an equity-based construction.
Helius Medical Applied sciences, an organization listed on Nasdaq, not too long ago introduced plans to construct a $500 million reserve of Solana. How would the corporate obtain that? Learn the total story.
