Gold Flora Corporation announced it has entered into agreements with Innovative Industrial Properties Inc. to lease two additional facilities located near its Desert Hot Springs Campus. Under the terms of the Lease Agreements, Gold Flora will add approximately 53,000 square feet to its cultivation canopy, to generate an additional approximately 25,000 lbs. of flower annually and increase the Company's cultivation footprint to approximately 160,000 square feet of indoor grow.

The turn-key facility space will be delivered ready for operations once the Company has received the necessary state and local licenses to commence cultivation operations. The Company anticipates that approximately half of the capacity will come online in the first quarter of 2025, with the remaining capacity anticipated to come online later that year.