/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION
TO UNITED STATES WIRE
TORONTO, Feb. 16, 2021 /CNW/ - Fire & Flower Holdings
Corp. ("Fire & Flower" or the
"Company") (TSX: FAF) (OTCQX: FFLWF), a leading
cannabis retailer with a proprietary e-commerce and digital retail
platform, today announced that it has submitted an initial
application to list its common shares on the Nasdaq Stock
The anticipated Nasdaq listing is part of Fire & Flower's
growth strategy which is focused on expanding its brand to markets
outside of Canada. The Company
anticipates that the Nasdaq listing will assist in attracting
retail and institutional investors interested in Fire &
Flower's international growth ambitions as well as provide the
Company with increased access to strategic partners, deal-flow and
value creation opportunities.
Trevor Fencott, Chief Executive
Officer of Fire & Flower, commented, "We are firmly committed
to building Fire & Flower into one of the leading cannabis
retailers in the world. Our ability to deliver a superior
cannabis product and customer experience, along with our
cutting-edge technology, has driven our success in Canada and strongly positions our Company for
continued expansion in new high-growth markets."
Fencott continued, "Our focus on building a leadership position
within the cannabis industry goes hand in hand with driving
increased value for our shareholders. This application to
list on Nasdaq is a major step forward in expanding our shareholder
base in the United States. We will continue to pursue
domestic and international opportunities for accelerated growth in
the years ahead and look forward to updating our broadening
shareholder base as we move ahead."
Fire & Flower will continue to be listed on the Toronto
Stock Exchange under the symbol "FAF". The listing of the Company's
common shares on Nasdaq remains subject to the review and approval
of the Company's listing application and the satisfaction of all
applicable listing and regulatory requirements. The Company has
retained Dentons as legal counsel in connection with the
application to list on Nasdaq.
About Fire & Flower
Fire & Flower is a leading purpose-built,
independent adult-use cannabis retailer focused on the
Canadian market and international expansion opportunities. 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 is a multi-banner cannabis retail operator
that owns and operates the Fire & Flower™, Friendly Stranger™,
Happy Dayz™ and Hotbox™ brands.
Fire & Flower Holdings Corp. owns all issued and outstanding
shares in Fire & Flower Inc. and Friendly Stranger Holdings
Corp., licensed cannabis retailers that own and operate
cannabis retail stores in the provinces of Alberta, Saskatchewan, Manitoba and Ontario, and the Yukon territory.
Through the strategic investment of Alimentation
Couche-Tard Inc. (owner of Circle K convenience stores), the
Company has set its sights on the global expansion as new cannabis
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
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 in this news release include statements with respect to
the proposed listing of the Company's common shares on
Forward-looking statements are based on the opinions and
estimates of management of Fire & Flower at the
date the statements are made based on information then available to
the Fire & Flower. Various factors and
assumptions are applied in drawing conclusions or making the
forecasts or projections set out in forward-looking statements,
including with respect to obtaining final approvals for listing on
Nasdaq on the terms described herein or at all.
Forward-looking statements are subject to and involve a number of
known and unknown, variables, risks and uncertainties, many of
which are beyond the control of Fire & Flower,
which may cause Fire & Flower's actual
performance and results to differ materially from any projections
of future performance or results expressed or implied by such
forward-looking statements. Such factors, among other things,
include: final regulatory, shareholder and
other approvals or consents that may be required
or desirable to complete the proposed listing on Nasdaq;
fluctuations in general macroeconomic conditions;
fluctuations in securities markets; the impact of the COVID-19
pandemic; the ability of the Company
to successfully achieve its business objectives and political
and social uncertainties.
No assurance can be given that the expectations reflected in
forward-looking statements will prove to be correct. Although
the forward-looking statements contained in this news release are
based upon what management of the Company believes, or believed at
the time, to be reasonable assumptions, the Company cannot assure
shareholders that actual results will be consistent with such
forward-looking statements, as there may be other factors that
cause results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking
statements and information contained in this news release.
Additional information regarding risks and uncertainties relating
to the Company's business are contained under the heading "Risk
Factors" in the Company's annual information form dated
April 29, 2020 and the heading "Risks
and Uncertainties" in the management discussion and analysis for
the thirteen and thirty-nine weeks ended October 31, 2020 filed on its issuer profile on
SEDAR at www.sedar.com.
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
SOURCE Fire & Flower Holdings Corp.