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An announcement from GOLD FLORA CORPORATION ( (GRAM) ) is now available.
On March 27, 2025, Gold Flora Corporation filed for voluntary receivership in California due to obligations from legacy lawsuits and mounting operational costs. The company anticipates the appointment of Richard Ormand as the receiver to manage the sale of its assets, aiming to continue operations and sell as a going concern. This decision follows a notice of default from J.J. Astor & Co. regarding promissory notes, increasing the outstanding principal and interest to approximately $11.5 million. The receivership is expected to affect the company’s stock trading and may lead to delisting from the Cboe Canada exchange.
More about GOLD FLORA CORPORATION
Gold Flora Corporation is a vertically-integrated cannabis company operating across California. It owns and operates multiple premium indoor cannabis cultivation facilities, 16 retail dispensaries, a distribution business, and a portfolio of cannabis brands. The company’s operations include well-known dispensaries and a distribution company, Stately Distribution, which sells both first-party and third-party brands.
YTD Price Performance: 55.00%
Average Trading Volume: 114,339
Technical Sentiment Signal: Buy
Learn more about GRAM stock on TipRanks’ Stock Analysis page.