/NOT FOR DISSEMINATION IN THE UNITED STATES OR
FOR DISTRIBUTION TO UNITED STATES
WIRE SERVICES./
TORONTO, May 21, 2021 /CNW/ - Fire & Flower Holdings
Corp. ("Fire & Flower" or the "Company") (TSX: FAF) (OTCQX:
FFLWF), today announced the appointment of Matthew Hollingshead to his new role as Chief
Innovation Officer ("CINO"). Mr. Hollingshead will also continue to
serve as President of the Company's wholly-owned indirect
subsidiary, Hifyre Inc. ("Hifyre").
Mr. Hollingshead joined the Company in 2018 when Hifyre was
acquired by Fire & Flower as part of the Company's focus as a
technology-enabled retailer. Effective today, in his new role
as CINO, Mr. Hollingshead will continue to work closely with CEO
Trevor Fencott and co-lead the
Company's strategic technological advancements. He will also create
and oversee the successful execution of the Company's new
organization-wide innovation plan. As part of the executive
leadership team, this role will be responsible for implementing the
Company's near and long-term strategic business opportunities.
"Matthew has championed innovation at Fire & Flower and in
the cannabis tech industry for years. His decade of legal medical
and adult-use cannabis experience combined with his creative vision
for the future of retail technology has been instrumental in
positioning Fire & Flower at the forefront of this highly
competitive industry," said Trevor
Fencott, President and CEO of Fire & Flower. "Under
Matthew's leadership, Hifyre has become a foundational element of
Fire & Flower's retail success and has been the key to
establishing diversified revenue streams for our business and
offering our partners unmatched insights into the customer cannabis
journey."
Prior to Hifyre's acquisition, Matthew founded companies in the
digital advertising and software development industries, servicing
clients such as Mattel, Novo Nordisk, Puma, Google & MTV. The
Hifyre team, under Matthew's leadership has helped clients build
and successfully exit companies for approximately $500 million, including the first online medical
cannabis portal for Mettrum, which sold to Canopy Growth in
2017.
"On behalf of our Board of Directors and all our stakeholders, I
congratulate Matthew on this new appointment and am eager to see
the new and innovative capabilities that Matthew and his team
develop. We look forward to Matthew's future contributions as part
of our executive leadership team as we continue to execute on our
journey to being the global leader in retail cannabis technology,"
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
Hifyre™ 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
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 30, 2021 and the heading "Risks
and Uncertainties" in the management discussion and analysis for
the fiscal year 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.