/NOT FOR DISSEMINATION IN THE UNITED
STATES OR FOR DISTRIBUTION TO UNITED
STATES WIRE SERVICES./
EDMONTON, May 31, 2019 /CNW/ - Fire & Flower Holdings
Corp. and its wholly-owned subsidiary Fire & Flower Inc.
(collectively, "Fire & Flower" or the "Company") (TSXV: FAF),
today announced its near-term schedule for opening additional
licensed cannabis retail stores across the province of Alberta.
The announcement comes following the Alberta Gaming, Liquor and
Cannabis Commission's (the "AGLC") announcement that it has seen a
sufficient enough increase in cannabis inventory available to lift
its previously announced mortarium on issuing new retail
licences.
The AGLC has announced it will resume issuing five licences on a
weekly basis to approved retailers on its licensing queue on a
first-in, first-out basis. More information on the lift of the
moratorium can be found on the AGLC's website at the following
address:
https://aglc.ca/news/retail-cannabis-licence-moratorium-lifted.
Fire & Flower currently has six fully built locations on
AGLC's current licence queue. The Company is preparing to open
these additional stores at its earliest opportunity once licensed.
The Company is also continuing to build out additional stores in
Alberta which it expects to open
in the third and fourth quarters of 2019.
"Fire & Flower applauds the AGLC and the Government of
Alberta for their leadership of
Alberta's growing adult-use
cannabis industry. The AGLC's work in securing reliable and diverse
product supply reinforces Alberta's forward-looking environment for
retail adult-use cannabis," shared Trevor
Fencott, Chief Executive Officer of Fire & Flower.
"Having built out stores across the province of Alberta in anticipation of a resumption of
licensing validates Fire & Flower's first-to-market growth
strategy."
Fire & Flower will announce the opening dates and operating
hours of additional licensed locations at its earliest
opportunity.
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 that is centered around
its proprietary HiFyre digital platform. 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 licenced cannabis retailer in
the provinces of Alberta and
Saskatchewan and is a consultant
and licensor to Fire & Flower-branded retail locations in
province of Ontario.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
This news release contains certain
forward-looking information within the meaning of applicable
Canadian securities laws ("forward-looking statements"). All
statements other than statements of present or historical fact are
forward-looking statements. Forward-looking statements are often,
but not always, identified by the use of words such as
"anticipate", "achieve", "could", "believe", "plan", "intend",
"objective", "continuous", "ongoing", "estimate", "outlook",
"expect", "project" and similar words, including negatives thereof,
suggesting future outcomes or that certain events or conditions
"may" or "will" occur. These statements are only
predictions.
Forward-looking statements are based on the opinions and
estimates of management of the Company at the date the statements
are made based on information then available to the Company.
Various factors and assumptions are applied in drawing conclusions
or making the forecasts or projections set out in forward-looking
statements. Forward-looking statements are subject to and
involve a number of known and unknown risks and uncertainties, many
of which are beyond the control of the Company, which may cause the
Company's actual performance and results to differ materially from
any projections of future performance or results expressed or
implied by such forward-looking statements. No assurance can be
given that the expectations reflected in forward-looking statements
will prove to be correct.
The Company assumes no obligation to publicly update or
revise forward-looking statements to reflect new information,
future events or otherwise, except as expressly required by
applicable law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Fire & Flower Holdings Corp.