/NOT FOR DISSEMINATION IN THE UNITED
STATES OR FOR DISTRIBUTION TO UNITED
STATES WIRE SERVICES/
EDMONTON, May 6, 2019 /CNW/ - Fire & Flower
Holdings Corp. ("Fire & Flower" or the "Company") (TSXV: FAF),
today announced that the Company is the first independent Canadian
cannabis retailer to have received institutional equity research
analyst coverage.
AltaCorp Capital Inc. ("AltaCorp") institutional equity research
sets a rating of "Speculative Buy" with a 12-month price target of
C$2.50 per share. Highlights
from AltaCorp's institutional equity research include:
- Sophisticated Data & Analytics Platform – Through
Fire & Flower's proprietary digital platform, Hifyre, the
Company is well positioned to provide a deep understanding of
personalized consumer behaviours and trends. Intellectual property
developed in the Hifyre platform will also provide an entry point
for Fire & Flower into the US market, however, this opportunity
is not yet included in AltaCorp's model.
- Consumer Product Knowledge Gaps – Fire & Flower's
experiential retail strategy addresses the compound issues of
supply shortages and limited consumer product understanding through
an educational retail experience that helps consumers select
products that will fit with their desired experiences.
- Retail Brand Driving Customer Loyalty – Restricted
regulations around packaging, labelling, branding and promotion
will impede Licensed Producers' ability to market directly to
consumers. Through Fire & Flower's extensive direct-to-consumer
marketing platform, the Company is well positioned to be the
trusted link between cannabis products and consumers.
"We are thrilled to be the first independent cannabis retail
company in Canada to have received
equity analyst research coverage. AltaCorp's analysis supports our
aggressive growth-oriented corporate strategy," shared Trevor Fencott, Fire & Flower's Chief
Executive Officer. "In particular, we are very pleased to see
AltaCorp recognize the Hifyre digital platform as a key driver of
value for our Company. The Hifyre digital platform is something
that distinguishes Fire & Flower within the retail cannabis
market and provides valuable intellectual property which provides a
platform for our entry into the United
States and other global markets."
"Utilizing data and analytics to better understand consumer
trends and behaviours is a key differentiator for Fire & Flower
and establishes the Company as the leading retailer in Canada," shared David
Kideckel, Analyst, Managing Director of AltaCorp Capital
Inc. "We are initiating coverage as a Speculative Buy rating and a
12-month price target of C$2.50 per
share. AltaCorp will continue to monitor Fire & Flower's
aggressive growth plan and we look forward to providing future
analysis on the Company."
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 that is centered around
its proprietary HiFyre digital platform. 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 licenced cannabis retailer in
the provinces of Alberta and
Saskatchewan and is a consultant
and licensor to Fire & Flower-branded retail locations in
province of Ontario.
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 in this news release
include, but are not limited to, statements regarding the proposed
transaction and the completion thereof, the receipt of regulatory
approvals (including the approvals of the SLGA and the TSX Venture
Exchange) and Fire & Flower's current and proposed operations
in Saskatchewan and elsewhere in
Canada.
Forward-looking statements are based on the opinions and
estimates of management of the Company 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 the Company, which may cause the
Company'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.
The Company 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.