An anonymous director reports

GOLD FLORA CORPORATION ANNOUNCES APPOINTMENT OF RECEIVER

Gold Flora Corp., following its previously reported filing for a voluntary receivership pursuant under the laws of the State of California, the Los Angeles County Superior Court, Santa Monica Division, issued an order on March 28, 2025, granting the company's application and appointed Stone Blossom Capital LLC, by and through its principal, Richard Ormand, as the receiver of the company. Pursuant to the order, the receiver took possession of all assets of the company, and is authorized to take any action the receiver deems reasonable and appropriate to manage and operate such assets, including the marketing and sale of assets. The order also stays all pending and potential actions and litigation brought against Gold Flora or its subsidiaries unless the court orders such stay lifted, extended or otherwise modified upon a showing of good cause. The receiver has broad powers and authority to seize, collect, manage, control, preserve, protect, maintain, liquidate or conserve value of all of the assets of the company in accordance with California law. Accordingly, the receiver is empowered to sell all of the assets of the company (together or separately) and distribute the proceeds of such sale to the company's creditors in a manner approved by the court.

Additionally, as previously reported, on March 28, 2025, the company's securities were halted from quotation on the OTCQB marketplace operated by OTC Markets Group Inc. On April 2, 2025, the company received a notice from OTC notifying the company that, as a result of its receivership filing, the company no longer qualified for quotation on the OTCQB marketplace and that the quotation of the company's securities would be transferred to the OTC Pink Market effective as of the open of trading on April 3, 2025.

About Gold Flora Corp.

Gold Flora is 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 portfolio of cannabis brands and SKUs (stock-keeping units) aimed at different consumer segments. 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'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. The Desert Hot Springs campus also houses the company's manufacturing and extraction facilities and Stately Distribution.

With hubs throughout the state, the company distributes many brands, including its own lines of Gramlin, Gold Flora, Cruisers, Roll Bleezy, Aviation Cannabis, Jetfuel Cannabis and Monogram.

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