EDMONTON, Oct. 18, 2019 /CNW/ – Fire & Flower Holdings Corp. (“FFHC”) (TSX: FAF) today 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 acquire all of the shares of a licensed retail cannabis operator in Regina, Saskatchewan from Mera Cannabis Corp. (the “Vendor”).
Fire & Flower’s Regina store will re-open on Friday, October 18 at 10:00 am local time and is located at 680 E Victoria Avenue. Fire & Flower welcomes members of the community and local media to attend the grand opening of the location on Friday morning.
We are very pleased to be opening a Fire & Flower location in the key urban market or Regina and this store continues to strengthen our position within the Saskatchewan market.
Trevor Fencott, Fire & Flower’s Chief Executive Officer
Saskatchewan continues to be a key market for Fire & Flower because of our ability to buy directly and efficiently from licensed producers through our wholesale business, Open Fields Distribution. This province provides a test market for cannabis products through the HifyreTM digital cannabis retail and analytics platform.
In connection with the acquisition, the Vendor has received $1,500,000 in cash and 2,268,191 common shares of FFHC.
About Fire & Flower
Fire & Flower is a leading purpose-built, independent adult-use cannabis retailer poised to capture significant Canadian market share. The Company guides consumers through the complex world of cannabis through education-focused, best-in-class retailing while the HifyreTM digital platform connects consumers with cannabis products. The Company’s leadership team combines extensive experience in the cannabis industry with strong 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 store licences in the provinces of Alberta, Saskatchewan, Manitoba and Ontario and the Yukon territory.
Through the strategic investment of Alimentation Couche-Tard Inc. (ATD.A, ATD.B), the Company has set its sights on the global expansion as new cannabis markets emerge.