EDMONTON, Oct. 18, 2019 /CNW/ – Fire & Flower Holdings Corp. (“FFHC”) (TSX: FAF) right now 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 retailer will re-open on Friday, October 18 at 10:00 am regional time and is situated at 680 E Victoria Avenue. Fire & Flower welcomes members of the neighborhood and regional media to attend the grand opening of the place on Friday morning.
“We are extremely pleased to be opening a Fire & Flower place in the essential urban market place or Regina and this retailer continues to strengthen our position inside the Saskatchewan market place,” shared Trevor Fencott, Fire & Flower’s Chief Executive Officer. “Saskatchewan continues to be a essential market place for Fire & Flower since of our potential to purchase straight and effectively from licensed producers by way of our wholesale small business, Open Fields Distribution. This province gives a test market place 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 typical shares of FFHC.
About Fire & Flower
Fire & Flower is a top objective-constructed, independent adult-use cannabis retailer poised to capture considerable Canadian market place share. The Organization guides shoppers by way of the complicated globe of cannabis by way of education-focused, greatest-in-class retailing whilst the HifyreTM digital platform connects shoppers with cannabis goods. The Company’s leadership group combines substantial expertise in the cannabis business 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 retailer licences in the provinces of Alberta, Saskatchewan, Manitoba and Ontario and the Yukon territory.
By means of the strategic investment of Alimentation Couche-Tard Inc. (ATD.A, ATD.B), the Organization has set its sights on the worldwide expansion as new cannabis markets emerge.
CAUTIONARY STATEMENT With regards to FORWARD-Hunting Information and facts
This news release includes particular forward-searching facts inside the which means of applicable Canadian securities laws (“forward-searching statements”). All statements other than statements of present or historical reality are forward-searching statements. Forward-searching statements are normally, 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 related words, which includes negatives thereof, suggesting future outcomes or that particular events or circumstances “may” or “will” take place. These statements are only predictions.
Forward-searching statements are primarily based on the opinions and estimates of management of FFHC at the date the statements are produced primarily based on facts then offered to FFHC. Different components and assumptions are applied in drawing conclusions or creating the forecasts or projections set out in forward-searching statements. Forward-searching statements are topic to and involve a quantity of recognized and unknown dangers and uncertainties, lots of of which are beyond the manage of FFHC, which could trigger FFHC’s actual functionality and benefits to differ materially from any projections of future functionality or benefits expressed or implied by such forward-searching statements. Applicable dangers and uncertainties involve, but are not restricted to, dangers that the transactions contemplated could be delayed in closing or could not close, regulatory dangers relating to issuance, renewal, extension or transfer of cannabis retail retailer licences and/or municipal improvement permits, dangers relating to getting necessary third celebration consents, dangers relating to the expense and timing of building, modifications in laws, market place dangers, concentration dangers, operating history, competitors and the other dangers identified beneath the headings “Risk Factors” in FFHC’s Annual Information and facts Type 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-searching statements. No assurance can be offered that the expectations reflected in forward-searching statements will prove to be appropriate.
FFHC assumes no obligation to publicly update or revise forward-searching statements to reflect new facts, future events or otherwise, except as expressly necessary by applicable law.
Supply Fire & Flower Holdings Corp.
For additional facts: Investor Relations: Chris Bolivar, [email protected], 1-833-680-4948 Media Relations, Nathan Mison, [email protected], 780-784-8859