Gold Flora Announces Post-Merger Milestone of $30 million in Annualized Cost Savings
COSTA MESA, Calif. – Gold Flora Corporation, (“Gold Flora” or the “Company”) (NEO: GRAM), a leading vertically-integrated California cannabis company today announced an update on its post-merger restructuring and integration activities. Gold Flora has successfully completed the first phase of its cost-saving initiatives to maximize operating efficiencies and drive the Company to sustainable positive free cash flow. The Company has diligently and successfully accomplished targeted measures to streamline and integrate legacy operations into Gold Flora’s vertically-integrated platform. Integration includes significant reductions in marketing expenses, professional services, personnel expenses, and G&A expenses. In addition, the Company has nearly eliminated its reliance on third-party vendors for biomass, manufacturing, and distribution. Gold Flora has closed several non-profitable delivery locations and has optimized its real-estate footprint by exiting leases or, where attract...