Fire & Flower Holdings Corp. announced that its wholly-owned subsidiary, Fire & Flower Inc. has completed the purchase of certain assets of 1011173 British Columbia Ltd. (the “Vendor”) in relation to the operation of two licensed retail cannabis stores in Vancouver, British Columbia.
The Acquired Locations have received development permits and the required Board of Variance approvals from the City of Vancouver to operate cannabis retail stores. Fire & Flower intends to submit its applications for cannabis retail store licences to the Liquor & Cannabis Regulation Branch of the Province of British Columbia at its earliest opportunity.
“We are excited to bring the Fire & Flower brand and retail experience to the Vancouver market and the province of British Columbia,” shared Trevor Fencott, Chief Executive Officer of the Company. “Establishing two of Fire & Flower’s British Columbia locations in the heart of the province’s largest city is a key step in the continued successful execution of our growth strategy.”
The Vancouver Fire & Flower stores will be located at:
- 2231 Granville Street, Vancouver, British Columbia, and
- 2570 Granville Street, Vancouver, British Columbia.
In conjunction with the Acquisition, the Vendor has received $4,500,000 in cash and 2,692,308 common shares of the Company.
Today, the Company further announces that it has appointed Matthew Anderson as Corporate Secretary. Mr. Anderson also currently serves as Fire & Flower’s Vice President, Business and Legal Affairs. Prior to joining Fire & Flower, Mr. Anderson carried on a commercial and regulatory law practice at Duncan Craig LLP and Osler, Hoskin & Harcourt LLP.