Gold Flora Corporation Announces Appointment of Receiver

COSTA MESA, Calif., April 2, 2025 /CNW/ - Gold Flora Corporation ("Gold Flora" or the "Company") (CboeCanada:GRAM), a cannabis company with subsidiaries operating across California, today announced that, 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 (the "Court") issued an order (the "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 (the "Receiver"). 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.