/NOT FOR DISSEMINATION IN THE UNITED
STATES OR FOR DISTRIBUTION TO UNITED
STATES WIRE SERVICES/
EDMONTON, June 10, 2019 /CNW/ - Fire & Flower Holdings
Corp. ("Fire & Flower" or the "Company") (TSXV: FAF), today
announced the Company has achieved a milestone of C$25 million in system sales since opening on
October 17, 2018, the date adult-use
recreational cannabis became legal in Canada.
Today, the Company, through its wholly-owned subsidiary Fire
& Flower Inc. operates 18 licensed cannabis stores in the
provinces of Alberta and
Saskatchewan and has licensed two
branded shops in the province of Ontario.
"As the adult-use cannabis market continues to develop across
Canada, this significant sales
milestone demonstrates Fire & Flower's ability to open and
operate best-in-class retail stores across the country," shared
Trevor Fencott, Chief Executive
Officer of Fire & Flower. "Our Hifyre digital platform
including our Click & Collect service along with our retail
experience team have been key drivers in achieving our level of
sales."
Since adult-use legalization, Fire & Flower has processed
more than 375,000 transactions. This level of customer engagement
provides Fire & Flower with the ability to gain consumer
insights and curate its product assortment to the evolving
preferences of consumers.
Fire & Flower continues to aggressively pursue licensing
opportunities in all Canadian provinces where private retail is
permitted and as new market opportunities emerge.
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 Hifyre 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 licenced cannabis retailer in
the provinces of Alberta and
Saskatchewan and is a consultant
and licensor to Fire & Flower-branded retail locations in the
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.