EDMONTON, Oct. 18, 2019 /CNW/ – Fire & Flower Holdings Corp. (“FFHC”) (TSX: FAF) these days announced that its wholly-owned subsidiary, Fire & Flower Inc. (“Fire & Flower” or the “Company”) has closed the transaction previously announced on July 22, 2019 to obtain all of the shares of a licensed retail cannabis operator in Regina, Saskatchewan from Mera Cannabis Corp. (the “Vendor”).
Fire & Flower’s Regina shop will re-open on Friday, October 18 at 10:00 am neighborhood time and is positioned at 680 E Victoria Avenue. Fire & Flower welcomes members of the neighborhood and neighborhood media to attend the grand opening of the place on Friday morning.
“We are incredibly pleased to be opening a Fire & Flower place in the essential urban industry or Regina and this shop continues to strengthen our position inside the Saskatchewan industry,” shared Trevor Fencott, Fire & Flower’s Chief Executive Officer. “Saskatchewan continues to be a essential industry for Fire & Flower mainly because of our potential to obtain straight and effectively from licensed producers by way of our wholesale company, Open Fields Distribution. This province delivers a test industry for cannabis goods by way of the HifyreTM digital cannabis retail and analytics platform.”
In connection with the acquisition, the Vendor has received $1,500,000 in money and two,268,191 frequent shares of FFHC.
About Fire & Flower
Fire & Flower is a top goal-constructed, independent adult-use cannabis retailer poised to capture substantial Canadian industry share. The Corporation guides shoppers by way of the complicated planet of cannabis by way of education-focused, ideal-in-class retailing although the HifyreTM digital platform connects shoppers with cannabis goods. The Company’s leadership group combines in depth expertise in the cannabis market with robust capabilities in retail operations.
Fire & Flower Holdings Corp. owns all issued and outstanding shares in Fire & Flower Inc., a licensed cannabis retailer that owns or has interests in cannabis retail shop licences in the provinces of Alberta, Saskatchewan, Manitoba and Ontario and the Yukon territory.
By way of the strategic investment of Alimentation Couche-Tard Inc. (ATD.A, ATD.B), the Corporation has set its sights on the worldwide expansion as new cannabis markets emerge.
CAUTIONARY STATEMENT With regards to FORWARD-Searching Facts
This news release consists of specific forward-seeking info inside the which means of applicable Canadian securities laws (“forward-seeking statements”). All statements other than statements of present or historical truth are forward-seeking statements. Forward-seeking statements are typically, but not often, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and equivalent words, such as negatives thereof, suggesting future outcomes or that specific events or situations “may” or “will” happen. These statements are only predictions.
Forward-seeking statements are primarily based on the opinions and estimates of management of FFHC at the date the statements are produced primarily based on info then obtainable to FFHC. Different elements and assumptions are applied in drawing conclusions or creating the forecasts or projections set out in forward-seeking statements. Forward-seeking statements are topic to and involve a quantity of recognized and unknown dangers and uncertainties, lots of of which are beyond the handle of FFHC, which may well result in FFHC’s actual efficiency and benefits to differ materially from any projections of future efficiency or benefits expressed or implied by such forward-seeking statements. Applicable dangers and uncertainties include things like, but are not restricted to, dangers that the transactions contemplated may well be delayed in closing or may well not close, regulatory dangers relating to issuance, renewal, extension or transfer of cannabis retail shop licences and/or municipal improvement permits, dangers relating to getting essential third celebration consents, dangers relating to the expense and timing of building, modifications in laws, industry dangers, concentration dangers, operating history, competitors and the other dangers identified below the headings “Risk Factors” in FFHC’s Annual Facts Kind dated July 29, 2019 and “Risks and Uncertainties” in FFHC’s management discussion and evaluation for the thirteen and twenty-six weeks ended August three, 2019, every as filed on SEDAR at www.sedar.com. Investors are cautioned not to place undue reliance on forward-seeking statements. No assurance can be offered that the expectations reflected in forward-seeking statements will prove to be appropriate.
FFHC assumes no obligation to publicly update or revise forward-seeking statements to reflect new info, future events or otherwise, except as expressly essential by applicable law.
Supply Fire & Flower Holdings Corp.
For additional info: Investor Relations: Chris Bolivar, [email protected], 1-833-680-4948 Media Relations, Nathan Mison, [email protected], 780-784-8859