TORONTO, April 29, 2021 /CNW/ - Fire & Flower Holdings
Corp. ("Fire & Flower" or the "Company") (TSX: FAF) (OTCQX:
FFLWF), today announced the appointment of Nadia Vattovaz to her new role as Chief
Operating Officer ("COO") and the addition of Judy Adam to the Company as Chief Financial
Officer ("CFO").
Ms. Vattovaz joined the Company in 2018 and was previously the
CFO and Executive Vice-President, Operations. Effective
May 17, 2021, in her new role as COO,
Ms. Vattovaz will lead the Company's ongoing operations and oversee
the successful execution of the Company's aggressive retail growth
plan. As part of the executive leadership team, this role will be
responsible for overseeing the Company's real estate, construction,
marketing, merchandising, distribution and retail operations
functions.
"We are delighted to appoint Nadia to this new role," said
Trevor Fencott, President and CEO of
Fire & Flower. "Her combination of leadership and strong
financial experience in growing successful organizations has served
Fire & Flower exceptionally well since she joined us. Nadia is
a proven results-driven leader with a 20-year track record of
performance and retail leadership and her efforts have greatly
assisted Fire & Flower's growth and success to date. This
appointment is key in continuing our momentum and strategic
execution and will allow Nadia to focus on optimizing our
operations and delivering on our growth and revenue generation
goals. With Nadia leading our operations in her new role, we
position ourselves to continue to successfully scale our company
and lead our industry, delivering a superior guest experience and
generating positive results for our shareholders, customers, team
members and vendors alike."
Appointment of New Chief Financial Officer Effective
May 17, 2021
In concert with the COO appointment, Fire & Flower is
pleased to announce the appointment of Judy
Adam as CFO. Ms. Adam is a Chartered Professional Accountant
and brings more than 25 years of public company experience as a
financial executive to Fire & Flower including experience with
both the TSX and NYSE listed companies.
"Judy's deep experience with scaling a business from
$160 million to $1.7 billion is precisely what Fire & Flower
needs at this point," commented Mr. Fencott. "Her impressive
understanding of digital technology and consumer packaged goods
coincides extremely well with our strategic focus and her extensive
experience in mergers and acquisitions and capital markets will be
a strong accelerator to our aggressive growth plans. We are
delighted to have her join our team and look forward to the strong
financial acumen and experience she brings with her."
Prior to joining Fire & Flower, Ms. Adam was the CFO of MAV
Beauty Brands and under her leadership, supported the company's
growth following its initial public offering in July 2018 by enhancing financial controls and
processes as well as completing the acquisition of its fourth brand
in November 2019. Prior to that, Ms. Adam was at Corus
Entertainment for nearly 20 years, starting in 1999 as a key member
of the original management team that created the company. She
progressed her career there and held other financial roles of
increasing responsibility, and in 2016 was appointed to Senior
Vice-President, Finance. During her tenure with Corus
Entertainment, Ms. Adam played a significant role in providing
financial and executive leadership, most notably her involvement in
completing various strategic acquisitions totaling over
$4.8 billion.
"On behalf of our Board of Directors and all our stakeholders, I
am extremely pleased to welcome Judy to the team and congratulate
Nadia on her new appointment. We look forward to both of their
contributions in future as part of our Executive leadership team
and our relentless pursuit of profitable growth, expansion and
innovation," concludes Mr. Fencott.
About Fire & Flower
Fire & Flower is a leading, technology-powered,
adult-use cannabis retailer with more than 80 corporate-owned
stores in its network. The Company leverages its wholly-owned
technology development subsidiary, Hifyre Inc., to continually
advance its proprietary retail operations model while also
providing additional independent high-margin revenue streams. Fire
& Flower guides consumers through the complex world of cannabis
through education-focused, best-in-class retailing while
the HifyreTM digital retail and analytics
platform empowers retailers to optimize their connections with
consumers. The Company's leadership team combines extensive
experience in the technology, cannabis and retail
industries.
Through the strategic investment of Alimentation
Couche-Tard Inc. (owner of Circle K convenience stores), the
Company has set its sights on global expansion as new cannabis
markets emerge and is poised to expand into the United States when permitted through its
strategic licensing agreement with American Acres Managers upon the
occurrence of certain changes to the cannabis regulatory
regime.
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.
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 Fire & Flower at the
date the statements are made based on information then available
to Fire & Flower. 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, 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 "Risks
and Uncertainties" in the management discussion and analysis for
the thirteen and fifty-two weeks ended January 30, 2021 filed on its issuer profile on
SEDAR at www.sedar.com. The forward-looking statements
contained in this press release are made as of the date of this
press release, and the Company does not undertake to update any
forward-looking statements that are contained or referenced herein,
except in accordance with applicable securities laws.
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein.
SOURCE Fire & Flower Holdings Corp.