EDMONTON, Oct. 8, 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 acquisition of certain assets from wholly-owned subsidiaries of Cannabis Cowboy Inc. (the “Vendor”) pursuant to asset purchase agreements as previously announced on September 4, 2019, collectively (the “Transaction”).
The Transaction has resulted in the Company acquiring 8 additional retail stores at the following locations across Alberta:
- #1114 – 1108 4th Street SW, Calgary, Alberta;
- #112 and #116 Sage Hill Valley Common NW, Calgary, Alberta;
- #212, 11245 Valley Ridge Drive NW, Calgary, Alberta;
- #120, 6802 50 Avenue, Red Deer, Alberta;
- #201, 191 Edwards Way NW, Airdrie, Alberta;
- #401 and #403, 235 Milligan Drive, Okotoks, Alberta;
- #3, 40 Hewlett Park Landing, Sylvan Lake, Alberta; and
- #6, 5221 46 Street, Olds, Alberta.
Fire & Flower will announce the opening dates and times of the 8 additional retail stores at its earliest opportunity, upon satisfaction of all licensing requirements.
In connection with the Transaction the Vendor has received an aggregate purchase price of $5,650,000 consisting of $4,520,000 in cash and 826,930 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 (ATD.A, ATD.B), the Company has set its sights on the global expansion as new cannabis markets emerge.