April 30, 2024, ST. PETERSBURG, FL – Water Tower Research (www.watertowerresearch.com) has published an Initiation of Coverage Report on Gold Flora Corporation (CBOE CA: GRAM) titled, “One of California’s Leading Vertically Integrated Cannabis Companies.” The report can be accessed here.

Gold Flora is a leading vertically integrated cannabis company in California. It has six cultivation licenses, Black Lion Labs is its state-of-the-art manufacturing facility, and Stately Distribution is its distribution business. Gold Flora holds 17 retail licenses in California and operates 16 active dispensaries. The company has built a compelling portfolio of in-house brands that cover all major categories and hit different price points to complement its vertical footprint.

Importantly, Gold Flora is also focused on cost savings and has built its integrated platform with highly efficient use of capital. The new management team is best-in-class and is aligned with shareholders. Led by CEO Laurie Holcomb, the team is focused on capital-conscious, long-term growth and maximizing the vertical model to create sustainable scale and efficiency across the enterprise.

The US cannabis MSOS ETF is in a drawdown that began on February 10, 2021, and peak-to-trough is still down more than 80%. So, within cannabis, we are comparing degrees of cheapness. At 0.74x annualized 3Q23 and 4Q23 sales, Gold Flora is 48% cheaper than the California basket average of 1.45x.

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