COSTA MESA, Calif., Jan. 11, 2021 /PRNewswire/ Highlights: Gold Flora is a vertically integrated California cannabis company with a leading indoor cultivation footprint and lease rights to.
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The agreement bolsters development of the company s California-based vertically integrated operation.
Under the partnership, Stately Brands executives opted to join Gold Flora s management team as advisors.
Stately Brands also agreed to inject CA$10 million ($7.8 million) and contribute other assets to support the Gold Flora s expansion.
Costa Mesa, California-based Gold Flora said it would finalize the first phase of the expansion of its indoor cultivation facility.
The company also expects to obtain the final approval for its manufacturing license over the first quarter of the current year.
Gold Flora disclosed that the deal would also boost its Shelf Life distribution channels. The company currently distributes over 15 brands to more than 425 licensed dispensaries across the Golden State.