The following is a summary of the Gold Flora Corporation (GRAM) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Gold Flora Corporation reported a 13% sequential increase in its Q1 2024 revenue to $32.2 million.

• The company experienced a strong adjusted gross profit of $17.4 million, with an adjusted gross margin of 54%.

• Q1 saw a net loss of $13.7 million, a reduction compared to the net loss of $42 million recorded in Q4 2023.

• The company ended the quarter with $14.2 million in cash and cash equivalents.

Business Progress:

• Gold Flora launched its new brand Gramlin, targeted at high-volume cannabis consumers.

• The company expanded its active canopy footprint, priming them for output improvements in the second half of the year.

• Lease agreements have been secured for an additional cultivation area of 53,000 square feet pending state licenses.

• The company plans to introduce live rosin products in Q3 owing to expanded production and manufacturing capabilities.

• To generate positive cash flow in 2024, Gold Flora is capitalizing on its network of 16 operating retail stores and third-party avenues to sell their cannabis products.

• The company is strategically managing cash flow, controlling costs, and exploring financing options to improve its liquidity.

• Gold Flora is aiming for a balanced distribution between their own retail outlets and third-party retailers for their new product, Gramlin. The target is to achieve a 50-50 ratio in the long run.

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