Fire & Flower Announces Closing of C$27 Million Capital Raise

Published: August 20, 2018

Fire & Flower Announces Closing of C$27 Million Capital Raise

Fire & Flower Inc., an independent corporate cannabis retailer shared that it has successfully closed a convertible debenture capital raise resulting in aggregate gross proceeds of CAD$27,317,000 on August 1, 2018.

AltaCorp Capital Inc. and Richardson GMP Limited acted as co-lead agents for the offering. Significant participants in the capital raise included federally licensed producers Aphria Inc. and HEXO / The Hydropothecary Corporation, as previously announced.

Fire & Flower will use the funding for expansion and build-out of its stores in Alberta and Saskatchewan, working capital and general corporate purposes.

“With this capital raise and key strategic relationships in place, Fire & Flower is well-positioned to capture significant market share in Canadian retail cannabis markets,” shared Trevor Fencott, Fire & Flower’s Chief Executive Officer. “Fire & Flower is well capitalized as we execute our growth strategy in Canadian provinces allowing for private cannabis retail.”