Success of Initial Pilots Drives New Effort
to Advance Retail
Partnership Strategy in New Markets Across Canada
/NOT FOR DISSEMINATION IN THE UNITED
STATES OR FOR DISTRIBUTION TO UNITED
STATES WIRE SERVICES/
TORONTO, Oct. 5, 2021 /CNW/ - Fire & Flower Holdings
Corp. ("Fire & Flower" or the "Company") (TSX: FAF) (OTCQX:
FFLWF), today announced that it has advanced its strategic
initiative with its operational partner, Alimentation Couche-Tard
("ACT"), the parent company of Circle K stores, to open new Fire
& Flower cannabis retail stores adjacent to existing Circle K
stores located in new markets across Canada.
The expansion of the pilot program between the strategic
partners will see new co-located retail stores open over the next
several months in the Canadian provinces of Alberta, Saskatchewan and Manitoba. The enhanced agreement also allows
for the opportunity to further expand the program into additional
high-value markets including Ontario and the United States.
The initial Circle K co-located store pilot program was launched
in July 2020 with Alimentation
Couche-Tard, which operates stores across North America and has remained a key
investment partner of Fire & Flower since 2019. The first two
stores, located in Calgary and
Grand Prairie, Alberta utilized
ACT's existing lease footprint to build a co-located, small-scale
Fire & Flower retail operation that delivers strong economies
of scale for both companies due to the opportunity to incorporate
Fire & Flower's industry-leading Hifyre™
technology and analytics platform.
"Alimentation Couche-Tard has been an invaluable partner to Fire
& Flower as we built out Canada's largest retail network of legal
cannabis products and services over the past two years. Our success
in Canada, and now as we enter
into the U.S., is directly attributable to the powerful consumer
data and analytics technology that we have successfully employed in
each of our stores through our Hifyre™ technology
platform," said Trevor Fencott,
Chief Executive Officer of Fire & Flower. "As we continue to
build on our leadership position, we are leveraging our powerful
consumer data, strategically working with our key partners to
capture this data and, together, enhance our collective cannabis
operations, allowing Fire & Flower to advance our 'asset-light'
business model to further support our financial growth."
Fencott continued, "As we continue to advance our relationship
with Couche-Tard, we are driving a new level of service to our
extensive operational footprint in Canada and beyond. We are able to leverage the
power of Hifyre to allow these small co-located stores to run
efficiently. The advanced analytics we provide allows stores to
operate and manage inventory at maximum efficiency."
About Fire & Flower
Fire & Flower is a leading, technology-powered, adult-use
cannabis retailer with more than 90 corporate-owned stores in its
network. The Company leverages its wholly-owned technology
development subsidiary, Hifyre, to continually advance its
proprietary retail operations model while also providing additional
independent high-margin revenue streams. Fire & Flower guides
consumers through the complex world of cannabis through
education-focused, best-in-class retailing while the Hifyre digital
retail and analytics platform empowers retailers to optimize their
connections with consumers. The Company's leadership team combines
extensive experience in the technology, cannabis and retail
industries.
Through the strategic investment of Alimentation Couche-Tard
Inc. (owner of Circle K convenience stores), the Company has set
its sights on global expansion as new cannabis markets emerge and
is poised to expand into the United
States when permitted through its strategic licensing
agreement with Fire & Flower U.S. Holdings upon the occurrence
of certain changes to the cannabis regulatory regime.
Fire & Flower is a multi-banner cannabis retail operator
that owns and operates the Fire & Flower, Friendly Stranger,
Happy Dayz and Hotbox brands. Fire & Flower Holdings Corp. owns
all issued and outstanding shares in Fire & Flower Inc. and
Friendly Stranger Holdings Corp., licensed cannabis retailers that
own and operate cannabis retail stores in the provinces of
British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and the Yukon territory.
To learn more about Fire & Flower, visit
www.fireandflower.com.
About Hifyre
The Hifyre Digital Retail and Analytics Platform is a
proprietary ecosystem of products that includes the Spark Perks
member program, Hifyre ONE retail software platform and the Hifyre
IQ cannabis data and analytics platform.
The Hifyre platform also supports Fire & Flower's advanced
operations and provides a competitive advantage in providing a
tailored digital experience and understanding consumer behaviours
in the evolving cannabis market.
To learn more about Hifyre, visit www.hifyre.com.
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 information
in this news release includes, but is not limited to, statements in
respect of the Company's proposed co-located retail stores in
Alberta, Saskatchewan and Manitoba.
Forward-looking statements are based on the opinions and
estimates of management of Fire & Flower at the date the
statements are made based on information then available to the Fire
& Flower. 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, variables,
risks and uncertainties, many of which are beyond the control of
Fire & Flower, which may cause Fire & Flower's actual
performance and results to differ materially from any projections
of future performance or results expressed or implied by such
forward-looking statements. Such factors, among other things,
include: regulatory and other approvals or consents;
fluctuations in general macroeconomic conditions; fluctuations in
securities markets; the impact of the COVID-19 pandemic; the
ability of the Company to successfully achieve its business
objectives and political and social uncertainties.
No assurance can be given that the expectations reflected in
forward-looking statements will prove to be correct. Although
the forward-looking statements contained in this news release are
based upon what management of the Company believes, or believed at
the time, to be reasonable assumptions, the Company cannot assure
shareholders that actual results will be consistent with such
forward-looking statements, as there may be other factors that
cause results not to be as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking
statements and information contained in this news release.
Additional information regarding risks and uncertainties relating
to the Company's business are contained under the heading "Risk
Factors" in the Company's annual information form dated
April 30, 2021 and the heading "Risks
and Uncertainties" in the management discussion and analysis for
quarter ended July 31, 2021 filed on
its issuer profile on SEDAR at www.sedar.com. The forward-looking
statements contained in this new release are made as of the date of
this news release, and the Company does not undertake to update any
forward-looking statements that are contained or referenced herein,
except in accordance with applicable securities laws.
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein.
SOURCE Fire & Flower Holdings Corp.