/NOT FOR DISSEMINATION IN THE UNITED STATES OR
FOR DISTRIBUTION TO UNITED STATES
WIRE SERVICES/
Hifyre IQ™, the leading cannabis digital retail and
analytics platform, to become available to the U.S. cannabis market
through collaboration with BDSA
TORONTO, March 10, 2021 /CNW/ - Fire & Flower
Holdings Corp. ("Fire & Flower" or the
"Company") (TSX: FAF) (OTCQX: FFLWF), a leading
cannabis retailer with a proprietary digital retail and data
platform, today announced that its wholly-owned indirect
subsidiary, Hifyre Inc. ("Hifyre"), has entered into a strategic
agreement with BDS Analytics Inc. ("BDSA") to incorporate Hifyre's
Canadian digital retail and analytics into BDSA's existing online
U.S.-based market research platform. As part of the agreement, BDSA
will offer Hifyre IQ™ Canadian cannabis data to its U.S.-based
clients and Hifyre™ will be able to provide U.S. data from BDSA to
its Canadian clients, allowing both companies to offer enhanced,
crossborder data to their respective consumer bases.
Matthew Hollingshead, President
of Hifyre, Inc., commented, "A key aspect of Fire & Flower's
growth strategy is to strategically incorporate alternative
high-margin revenue streams into our business model in order to
drive profitability, while building a leadership role in key
cannabis markets around the world. Our Hifyre IQ™ analytics
platform has proven successful in Canada as it has presented one of the
strongest avenues of high-margin growth for our business and is
recognized by licensed cannabis producers, equity research
analysts, investment banks, hedge funds and consulting firms as a
leading cannabis data platform in the country. Extending this
platform into the U.S. is an excellent opportunity to accelerate
this revenue stream."
Hollingshead continued, "Our unique Hifyre IQ™ platform has
generated widespread demand from other leading cannabis companies
looking to efficiently capture consumer data and meet customer
demand. BDSA's extensive U.S. cannabis database and ability to
quickly adapt to changing regulations in the U.S. makes them a
prime partner. Through this agreement, both Fire & Flower
and BDSA anticipate enlarging our respective consumer bases while
supporting each other's continued growth in the cannabis
industry."
Strategic Agreement Highlights
- The Hifyre IQ™ Canadian cannabis data platform will be made
available for subscription to customers of BDSA through its
existing cannabis data products.
- BDSA's U.S. cannabis consumer data will be made available for
subscription to customers of Hifyre IQ™.
- Hifyre and BDSA will work collaboratively on the development of
additional products and services using data available from
Canada and the U.S.
"We are very pleased to be working with Hifyre under this
strategic agreement and bringing their leading Canadian cannabis
data to our clients in the U.S. who are keen to understand insights
from the Canadian market and how they may apply to consumers in
the United States," shared
Micah Tapman, Chief Executive
Officer of BDSA. "The offering of BDSA's U.S. data to Hifyre's
Canadian cannabis customers will further expand our presence in the
Canadian market."
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
markets emerge.
To learn more about Fire & Flower, visit
www.fireandflower.com.
About Hifyre
The Hifyre Digital Retail and Analytics Platform is a proprietary
ecosystem of products that includes the Spark Perks member program,
Hifyre ONE retail software platform and the Hifyre IQ cannabis data
and analytics platform.
The Hifyre platform also supports Fire & Flower's advanced
operations and provides a competitive advantage in providing a
tailored digital experience and understanding consumer behaviours
in the evolving cannabis market.
To learn more about Hifyre, visit www.hifyre.com.
About BDSA
BDSA helps businesses improve revenues, reduce innovation risk,
and prioritize market expansion with accurate and actionable
cannabis market intelligence, consumer research and advisory
services. The company provides a holistic understanding of the
cannabis market by generating insights from point-of-sale data,
consumer research, and market-wide industry projections. Retailers,
manufacturers, brands, wholesalers and investors can now make
better strategic decisions that drive profitability, increase
revenues and market share, and reduce expenses. BDSA is
headquartered in Boulder,
Colorado. To learn more please visit www.bdsa.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 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 the closing of the Transaction 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 and other approvals or
consents; 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
herein.
SOURCE Fire & Flower Holdings Corp.