Fire & Flower Receives Two Additional Cannabis Retail Store Licences in Alberta

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES/

EDMONTON, Dec. 2, 2019 /CNW/ - Fire & Flower Holdings Corp. ("FFHC") (TSX: FAF) and its wholly-owned subsidiary Fire & Flower Inc. (collectively with FFHC, "Fire & Flower" or the "Company"), today announced that it has received two additional cannabis retail store licences in Edmonton, Alberta from the Alberta Gaming Liquor and Cannabis Commission (the "AGLC").

Fire & Flower now owns or has an interest in 38 cannabis retail store licences across the provinces of Alberta, Saskatchewan, Manitoba and Ontario and the Yukon territory.

The Company anticipates the locations to open and be selling cannabis products during the week of December 16, 2019. The new stores will be located at the following addresses:

• 6802 – 50 Avenue, Red Deer, Alberta, and
• 40 Hewlett Park Landing, Sylvan Lake, Alberta.

The grand opening and operating hours of these new stores will be announced on Fire & Flower's website at www.fireandflower.com/locations/ and on social media channels at its earliest opportunity.

The Company continues to focus on opening new retail stores across Alberta, where the AGLC continues to issue retail licences, and in other Canadian provinces where the private sale of retail cannabis is permitted.

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 that owns or has interest in cannabis retail store licences in the provinces of Alberta, Saskatchewan, Manitoba andOntario and the Yukon territory.

Through its strategic investment with Alimentation Couche-Tard Inc. (ATD.A, ATD.B), the Company has set its sights on the global expansion as new cannabis markets emerge.

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  FFHC 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 FFHC, which may cause FFHC'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.

FFHC 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.

For further information: Investor Relations, Chris Bolivar,[e-mail], 1-833-680-4948; Media Relations, Nathan Mison, [e-mail], 780-784-8859