/NOT FOR DISSEMINATION IN THE UNITED STATES OR
FOR DISTRIBUTION TO UNITED STATES
WIRE SERVICES/
TORONTO, July 25,
2022 /CNW/ - Fire & Flower Holdings Corp.
("Fire & Flower" or the
"Company") (TSX: FAF) (OTCQX: FFLWF), today
announced the voting results from its Annual General and Special
Meeting of the Company's shareholders (the "Shareholders"),
held earlier today (the "Meeting"). The Company is pleased
to announce that all matters put forward before the Shareholders
for consideration and approval as set out in the Company's
management information circular dated June
16, 2022 (the "Circular"), were approved by the
requisite number of votes cast at the Meeting.
A total of 18,127,386 common shares of the Company (the
"Common Shares") were represented at the meeting, being
40.01% of the issued and outstanding Common Shares.
Each of the directors listed as a nominee in the Circular was
elected as a director of the Company at the Meeting. The detailed
results of the vote for the election of directors held at the
Meeting are set out below:
Nominee
|
Votes
For
|
Votes
Withheld
|
Outcome of
Vote
|
Sharon
Ranson
|
17,776,452
(99.88 %)
|
20,744
(0.12 %)
|
Approved
|
Donald
Wright
|
17,765,117
(99.82 %)
|
32,078
(0.18 %)
|
Approved
|
Avi Grewal
|
17,118,273
(96.19 %)
|
677,922
(3.81 %)
|
Approved
|
Stéphane
Trudel
|
17,775,702
(99.88 %)
|
21,493
(0.12 %)
|
Approved
|
Guillaume
Léger
|
17,771,274
(99.85 %)
|
25,921
(0.15 %)
|
Approved
|
Harvey Shapiro and Norm Inkster did not stand for re-election at
the Meeting. Each have been long-standing members of the Board and
have seen the Company through several expansions and growth
initiatives. Mr. Shapiro co-founded the Company in 2017 and served
as Chair until 2021. Mr. Inkster has served on the Board since its
inception and chaired the Company's Corporate Governance and
Compensation Committee until January
2022.
"We would like to thank Harvey and Norm for the valuable time
and guidance they have provided to management during their
respective tenures on the Board. Their commitment to helping define
and execute the Company's corporate strategic goals is greatly
appreciated," commented Don Wright,
Board Chair.
At the Meeting, the Shareholders approved, by the requisite
number of votes cast at the Meeting, all matters put forward before
the Shareholders for consideration and approval as set out in the
Circular. In addition to the election of the directors of the
Company as noted above, the Shareholders:
- fixed the number of directors of the Company to be elected at
the Meeting at five (5);
- reappointed PricewaterhouseCoopers LLP as the auditors of the
Company for the ensuing year and authorized the board of directors
of the Company (the "Board") to fix their remuneration and
terms of engagement;
- approved the Company's Amended and Restated 2021 share option
plan (the "2021 Option Plan") as well as all unallocated
options, rights and entitlements thereunder;
- approved amendments to the Company's (legacy) share option plan
first in effect on February 13, 2019;
and
- approved amendments to the Company's (legacy) share option plan
which was ratified by Shareholders on November 29, 2019.
The Company has filed a report of the voting results on all
resolutions voted on the Meeting on the Company's SEDAR profile at
www.sedar.com.
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 Inc., 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, logistics, 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.
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein.
SOURCE Fire & Flower Holdings Corp.