/NOT FOR DISSEMINATION IN THE UNITED
STATES OR FOR DISTRIBUTION TO UNITED
STATES WIRE SERVICES/
TORONTO, June 8, 2020 /CNW/ - Fire & Flower
Holdings Corp. ("FFHC", "Fire & Flower" or the "Company") (TSX:
FAF) (OTCQX: FFLWF) announces that Jeremy
Bergeron has tendered his resignation from the board of
directors of the Company (the "Board") effective June 8, 2020. Mr. Bergeron was appointed to
the Board on August 7, 2019 as the
nominee of 2707031 Ontario Inc. (an indirect wholly-owned
subsidiary of Alimentation Couche-Tard Inc. (collectively "ACT")),
pursuant to the terms of an investor rights agreement between the
Company and ACT dated August 7, 2019
(the "IRA").
Pursuant to the terms of the IRA, ACT has designated Stéphane
Trudel as its nominee to the Board
to replace Jeremy Bergeron.
The Board intends to appoint Mr. Trudel to the Board effective June 8, 2020 to fill the vacancy created by the
resignation of Mr. Bergeron.
"On behalf of the Board of
Directors, I welcome Stéphane to the Board as
Fire & Flower and Alimentation Couche-Tard continue their
strategic partnership" said Harvey
Shapiro, chair of the Board. "We also thank Mr.
Bergeron for his service as a director of Fire & Flower and for
his contributions to the progress the Company has made since our
partnership with Alimentation Couche-Tard."
Mr. Trudel has been serving as
Senior Vice President of Operations for ACT since January 2018, leading ACT's operations in
Canada as well as its exploration
and investment in the cannabis industry. Prior to that role, Mr.
Trudel was Vice President of
Operations of ACT since June 2017.
His previous roles have also included serving as Senior Vice
President of Growth and Strategy at CST Brands, Inc. ("CST"), an
international convenience retailer acquired by ACT in 2017. Before
joining CST, Mr. Trudel was
employed by Valero Energy Corporation for 20 years, holding several
managerial positions during that timeframe. He earned a bachelor's
degree in business administration, with a specialty in information
and system management, as well as an Executive MBA, both from
Sherbrooke University. Mr. Trudel currently sits on the board of
directors of the Canadian Independent Petroleum Marketers
Association (CIPMA) and of the Convenience Industry Council of
Canada (CICC) where he is also
part of the Executive Committee.
The Company has recently mailed and filed proxy materials in
connection with its annual general and special meeting to be held
virtually on June 15, 2020 (the
"Meeting"). The proxy materials contemplate the nominations of
Harvey Shapiro, Trevor Fencott, Norman
Inkster, Sharon Ranson,
Donald Wright, Avininder Grewal and
Jeremy Bergeron for election as
directors at the Meeting. Subsequent to the mailing and filing of
the proxy materials, Mr. Bergeron delivered his resignation and in
connection therewith has decided not to stand for re-election, and,
pursuant to the bylaws of the Company, it is proposed that an
officer of FFHC nominate Mr. Trudel at the Meeting instead.
The form of management proxy previously distributed to
registered shareholders in connection with the Meeting provides
management with discretionary authority to vote on amendments or
variations to matters coming before the Meeting and it is intended
that all such proxies will be voted FOR Mr. Trudel's election to the Board. If a
registered shareholder has submitted a management proxy and does
not wish the proxy to be voted in this manner, they may revoke
their proxy by attending the Meeting and voting their common shares
of FFHC (the "Common Shares") or, up to and including the last
business day prior to the Meeting:
- by an instrument in writing executed by the registered holder
of such Common Shares at the office of the Company's transfer
agent, Computershare Investor Services Inc., 8th Floor,
100 University Avenue, Toronto, ON
M5J 2Y1;
- by delivering written notice of such revocation to the chair of
the Meeting prior to the commencement of the Meeting on the day of
the Meeting or any adjournment(s) or postponement(s) thereof;
or
- in any other manner permitted by law.
Non-registered holder of Common Shares who wish to change their
vote must contact their broker (or other intermediary) holding
their Common Shares to discuss their options well in advance of the
Meeting.
If a registered holder of Common Shares is using a control
number to log into the Meeting and accepts the terms and
conditions, such holder will be provided the opportunity to vote by
online ballot at the appropriate time on the matters put forth at
the Meeting. If such holder has already voted by proxy and such
holder votes again during the online ballot during the Meeting,
such holder's online vote during the Meeting will revoke the proxy
previously submitted by such holder.
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 and Spark
PerksTM program connect cannabis consumers with the
latest cannabis products, and deliver cutting edge insights into
evolving consumer behaviours. 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 (directly or indirectly) cannabis retail store licences in the
provinces of Alberta, Saskatchewan, Manitoba and Ontario and the Yukon territory.
Through its strategic investment with ACT, the Company has set
its sights on the global expansion as new cannabis markets
emerge.
To learn more about Fire & Flower, visit
www.fireandflower.com.
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 FFHC 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 FFHC, which may cause FFHC'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.
FFHC 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.
SOURCE Fire & Flower Holdings Corp.