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EDMONTON, Jan. 27, 2020 /CNW/ - Fire & Flower Holdings Corp. ("Fire & Flower", the "Company", or "FFHC") and its indirect wholly-owned subsidiary HifyreTM Inc. ("Hifyre"), today announced that it has entered into a Strategic Licence Agreement (the "Agreement") with Cova Software Solutions Inc. ("Cova").
The Agreement will allow Cova to provide the Hifyre digital retail platform to its customers including the Spark Perks program and the Fastlane 'click-and-collect' service. This Agreement will benefit Cova customers through providing these best-in-class cannabis retail services.
"The strategic agreement with Cova will enable the Hifyre digital retail and analytics platform to be rapidly commercialized across emerging cannabis markets," shared Matthew Hollingshead, President of Hifyre. "Cova is a leading point of sale company in emerging domestic and international cannabis markets and the Cova and Hifyre teams have worked collaboratively for more than a year now and we are excited to enter into this strategic agreement."
"The addition of industry-leading digital retail products developed by Hifyre to the Cova platform is a key differentiator in our offering to cannabis customers," shared Gary Cohen, Chief Executive Officer of Cova. "This strategic agreement will allow Cova to rapidly deploy 'click-and-collect' service to customers in the Ontario market, given the province's recent announcement of permitting this service."
The Hifyre digital retail and analytics platform is a proprietary, data-driven system that supports Fire & Flower's advanced operations and provides a competitive advantage in understanding consumer behaviours in the evolving cannabis market.
In July of 2018, Fire & Flower completed the acquisition of Hifyre, the digital product studio responsible for developing the industry-first regulated cannabis e-commerce platform for Mettrum Health Corp. (now Canopy Growth Corporation's Spectrum Cannabis).
Hifyre has worked in the legal cannabis industry for the last 6 years providing progressive custom digital solutions and services that create accelerated growth and operational savings. Hifyre's products and consulting services have helped generate hundreds of millions of dollars in corporate value for its partners.
Cova is an award-winning POS and Inventory Management solution designed to streamline cannabis retail. A compliance-first company, Cova not only meets all system requirements in every market served, but constantly adapts to changing rules and regulations to make compliance simple for owners and employees, reducing the risk of infractions and fines. In addition to automated compliance features, Cova offers an intuitive, user-friendly design and lightning-fast transaction time. Its technology platform currently powers more than 500 cannabis stores of all sizes with virtually no downtime, even on 4/20, making it the most robust and reliable cannabis POS system available. Headquartered in Vancouver, BC, and Denver, CO, Cova's team spans North America, including BC, Alberta, Saskatchewan, Manitoba, Ontario. Learn more at www.covasoftware.com.
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 HifyreTM 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 interests in cannabis retail store licences in the provinces of Alberta, Saskatchewan, Manitoba and Ontario and the Yukon Territory.
Through the strategic investment by 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 FFHC. 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.