Fire & Flower Closes Transaction to Acquire 8 Additional Cannabis Retail Store Locations in Alberta

Published: October 9, 2019

Fire & Flower Closes Transaction to Acquire 8 Additional Cannabis Retail Store Locations in Alberta

Fire & Flower Holdings Corp. announced that its wholly-owned subsidiary, Fire & Flower Inc. has closed the acquisition of certain assets from wholly-owned subsidiaries of Cannabis Cowboy Inc. pursuant to asset purchase agreements as previously announced on September 4, 2019, collectively.

The Transaction has resulted in the Company acquiring 8 additional retail stores at the following locations across Alberta:

  • #1114 – 1108 4th Street SW, Calgary, Alberta;
  • #112 and #116 Sage Hill Valley Common NW, Calgary, Alberta;
  • #212, 11245 Valley Ridge Drive NW, Calgary, Alberta;
  • #120, 6802 50 Avenue, Red Deer, Alberta;
  • #201, 191 Edwards Way NW, Airdrie, Alberta;
  • #401 and #403, 235 Milligan Drive, Okotoks, Alberta;
  • #3, 40 Hewlett Park Landing, Sylvan Lake, Alberta; and
  • #6, 5221 46 Street, Olds, Alberta.

Fire & Flower will announce the opening dates and times of the 8 additional retail stores at its earliest opportunity, upon satisfaction of all licensing requirements.

In connection with the Transaction the Vendor has received an aggregate purchase price of $5,650,000 consisting of $4,520,000 in cash and 826,930 common shares of FFHC.

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.