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EDMONTON, June 3, 2019 /CNW/ - Fire & Flower Holdings Corp. and its wholly-owned subsidiary Fire & Flower Inc. (collectively, "Fire & Flower" or the "Company") (TSXV: FAF), today announced it has received an additional licence from the Alberta Gaming, Liquor and Cannabis Commission (the "AGLC") to open a licensed cannabis retail store in Calgary, Alberta.
The announcement comes following the previous released news that the AGLC has lifted the moratorium on new cannabis retail licences.
"We are excited to open a licensed cannabis store in the major market of Calgary. This location will be open in advance of Calgary Stampede and is one of the closest locations to Stampede Park. We are enthusiastic about the anticipated performance of this major market location," shared Trevor Fencott, Fire & Flower's Chief Executive Officer. "This store has been built out in anticipation of additional licenses and the ability to rapidly open this store upon receipt of the licence validates Fire & Flower's first-to-market strategy."
It is anticipated the first Calgary licensed store will open the week of June 24 and will be located at 3916 MacLeod Trail, Calgary, Alberta. The location has been open since January 2019 to showcase the Fire & Flower retail experience including best-in-class cannabis education. Once cannabis products have been received, the location will offer a full assortment of cannabis products from licensed producers.
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 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.
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SOURCE Fire & Flower Holdings Corp.
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