Cannabis Retailer Fire & Flower Achieves C$25M System Sales Milestone

Date : 06/10/2019 @ 11:00AM
Source : PR Newswire (Canada)
Stock : Fire and Flower Holdings Corporation (FAF)
Quote : 1.35  0.0 (0.00%) @ 1:00AM
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Cannabis Retailer Fire & Flower Achieves C$25M System Sales Milestone

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EDMONTON, June 10, 2019 /CNW/ - Fire & Flower Holdings Corp. ("Fire & Flower" or the "Company") (TSXV: FAF), today announced the Company has achieved a milestone of C$25 million in system sales since opening on October 17, 2018, the date adult-use recreational cannabis became legal in Canada.

Today, the Company, through its wholly-owned subsidiary Fire & Flower Inc. operates 18 licensed cannabis stores in the provinces of Alberta and Saskatchewan and has licensed two branded shops in the province of Ontario.

"As the adult-use cannabis market continues to develop across Canada, this significant sales milestone demonstrates Fire & Flower's ability to open and operate best-in-class retail stores across the country," shared Trevor Fencott, Chief Executive Officer of Fire & Flower. "Our Hifyre digital platform including our Click & Collect service along with our retail experience team have been key drivers in achieving our level of sales."

Since adult-use legalization, Fire & Flower has processed more than 375,000 transactions. This level of customer engagement provides Fire & Flower with the ability to gain consumer insights and curate its product assortment to the evolving preferences of consumers.

Fire & Flower continues to aggressively pursue licensing opportunities in all Canadian provinces where private retail is permitted and as new market opportunities emerge.

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 while the Hifyre 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 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 the 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 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Fire & Flower Holdings Corp.

Copyright 2019 Canada NewsWire

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