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EDMONTON, July 10, 2019 /CNW/ - Fire & Flower Holdings Corp. and its wholly-owned subsidiary Fire & Flower Inc. (collectively, "Fire & Flower" or the "Company") (TSXV: FAF), today announced that it has received an additional licence to operate a cannabis retail store in Westlock, Alberta from the Alberta Gaming, Liquor and Cannabis Comission (the "AGLC").
Once opened, this store will be the 23rd Fire & Flower branded, licensed cannabis store and will be located at 10111 – 104 Avenue, Westlock, Alberta.
Fire & Flower recently announced its near-term rollout schedule. The receipt of the 23rd licence for a cannabis retail store demonstrates Fire & Flower's commitment to its continued path to rapidly opening cannabis retail stores across Canada.
"The Westlock Fire & Flower location was built out, in advance, in anticipation of the issuance of additional licences by the AGLC. We are seeing cannabis retail store licences being issued at an even more rapid rate than we had initially anticipated once the moratorium on licences had been lifted earlier this year," shared Trevor Fencott, Fire & Flower's Chief Executive Officer. "The recent completion of our $27,000,000 financing positions Fire & Flower to be able to respond to continued growth opportunities in cannabis retail."
Fire & Flower will announce the opening date and time of the Westlock store at its earliest opportunity on its website at www.fireandflower.com/locations/.
The Company continues to focus on opening stores in other Canadian provinces where private retail is permitted in addition to its roll out plan in Alberta.
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 licensed 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.
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SOURCE Fire & Flower Holdings Corp.
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