Subject: SEDAR News: Gold Flora Corporation (formerly TPCO Holding Corp.)
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File: Attachment 06200649-00000001-00047836-SEDAR11069033E00047836-PDF.pdf
Gold Flora Confirms Stay of Limited Purpose
Receivership
COSTA MESA, Calif., Nov. 6, 2024 /CNW/ - Gold Flora Corporation, ("Gold Flora" or the
"Company") (Cboe Canada: GRAM) (OTCQB: GRAM) today announced that the Court of Chancery
of the State of Delaware has granted a stipulation and order, and an interim report (the "Report")
has been filed, staying the previously announced temporary appointment of a limited purpose
receiver. The appointment was made for the purpose of negotiating a payment plan for law firm fees
relating to the matter between two groups of former directors of Left Coast Ventures ("LCV"), a
subsidiary of the Company. Pursuant to the Report, the limited receiver stayed the limited
receivership, conditioned upon the Company's compliance with the payment plan and satisfaction of
any future advancement demands brought by the former directors.
The Company has not been subject to a full or general receivership at any point.
About Gold Flora Corporation
Gold Flora Corporation is a female and founder led, vertically-integrated cannabis leader that owns
and operates multiple premium indoor cannabis cultivation facilities, 16 retail dispensaries in strategic
geographies, a distribution business selling first party and third party brands into hundreds of
dispensaries across California, and a robust portfolio of cannabis brands and SKUs aimed at
different consumer segments, including Gramlin, one of the fastest growing brands in the state
across the key categories of flower, vapes, concentrates, and prerolls. The Company's retail
operations include Airfield Supply Company, Caliva, Coastal, Calma, King's Crew, Varda, Deli, and
Higher Level dispensaries, and its distribution company operates under the name Stately
Distribution.
Gold Flora Corporation's indoor cultivation canopy currently comprises approximately 107,000
square feet across three facilities in its Desert Hot Springs campus and two San Jose cultivation
facilities. In addition, the Company has entered into leases for two state-of-the-art indoor cultivation
facilities in Palm Springs, with 53,000 square feet of canopy to start operation once licensing is
complete. The Company also has the option to expand further in the future depending on market
demand, with already entitled acreage providing approximately 240,000 square feet of canopy. The
Desert Hot Springs campus also houses the Company's manufacturing and extraction facilities and
Stately Distribution. This centralized location provides for optimal security and logistics benefits and
protects the product as it moves though the Company's larger pipeline.
With hubs throughout the state, the Company distributes many prominent brands, including its own
premium lines of Gramlin, Gold Flora, Cruisers, Roll Bleezy, Aviation Cannabis, Jetfuel Cannabis,
Mirayo by Santana, and Monogram. Third party brands are increasingly contacting the Company in
search of reliable input sources and established distribution.
References to information included on, or accessible through, websites and social media platforms
do not constitute incorporation herein by reference of the information contained at or available
through such websites or social media platforms, and the reader should not consider such
information to be part of this press release.
For the latest news, activities, and media coverage, please visit www.goldflora.com.
Forward Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation and the safe harbor provisions of the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements relate to the expectations or forecasts of
business, operations, financial performance, prospects, and other plans, intentions, estimates and
beliefs, and may include statements regarding the Order, including the Company and LCV's
obligations thereunder and the timing for completion of same, the term of the Limited Receiver and
its powers with respect to the Charge, the amount that Gold Flora will owe pursuant to the Order,
and Gold Flora's expected financial condition and performance. Words such as "expects," "continue,"
"will," "anticipates," and "intends," or similar expressions, are intended to identify forward-looking
statements, although not all forward-looking statements contain these identifying words. These
forward looking statements are based on Gold Flora's current projections and expectations about
future events and financial trends that it believes might affect its financial condition, results of
operations, prospects, business strategy and financial needs, and on certain assumptions and
analysis made by it in light of the experience and perception of historical trends, current conditions
and expected future developments and other factors it believes are appropriate. Forward-looking
information and statements involve and are subject to assumptions and known and unknown risks,
uncertainties, and other factors which may cause actual events, results, performance, or
achievements to be materially different from future events, results, performance, and achievements
expressed or implied by forward looking information and statements herein. Although Gold Flora
believes that any forward-looking information and statements herein are reasonable, in light of the
use of assumptions and the significant risks and uncertainties inherent in such information and
statements, there can be no assurance that any such forward-looking information and statements
will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of
such risks and uncertainties and should not place undue reliance upon such forward-looking
information and statements. Any forward-looking information and statements herein are made as of
the date hereof and, except as required by applicable laws, Gold Flora does not assume any
obligation to update or revise any forward-looking information or statements contained herein or to
update the reasons that actual events or results could or do differ from those projected in any
forward-looking information and statements herein, whether as a result of new information, future
events or results, or otherwise.
SOURCE Gold Flora Corporation
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For further information: Laurie Holcomb, Chairman & CEO, +1 (949) 252-1908 ext.300; Investor
Contact, ir@goldflora.com
CO: Gold Flora Corporation
CNW 17:00e 06-NOV-24
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