/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
UNITED STATES WIRE
SERVICES/
Open Fields Distribution expands into
Manitoba market by providing cross
docking services and leveraging significant logistics experience
with Pineapple Express Delivery
TORONTO, April 14,
2022 /CNW/ - Fire & Flower Holdings Corp.
("Fire & Flower" or the "Company") (TSX:
FAF)(OTCQX: FFLWF), a leading cannabis consumer technology and
retail platform, today announced that its wholly-owned subsidiary,
Open Fields Distribution ("Open Fields") has entered into a
one-year cannabis distribution agreement (the "Agreement")
with Manitoba Liquor & Lotteries ("MBLL"). Under the
Agreement, Open Fields will offer distribution of recreational
cannabis products from licensed producers to retailers in the
province of Manitoba at the
direction of the MBLL.
Strategic Benefits of the
Agreement
- Extends the existing Open Fields business, which offers
wholesale and distribution services in Saskatchewan, into a second province.
- Leverages significant experience of the Company's recently
acquired logistics and delivery subsidiary, Pineapple Express
Delivery.
- Enables retailers across Manitoba to receive product more efficiently
and benefit from the established high level of service offered by
Open Fields.
- Further enhances strategic relationships with key licensed
producers across all segments of the Fire & Flower
business.
"Open Fields was selected as part of a competitive RFP process
to provide cross docking services in the province of Manitoba and we are delighted that MBLL has
trusted our business to provide these services. Open Fields and
Pineapple Express Delivery have significant experience in servicing
retail customers in the provinces of Saskatchewan and Ontario and extending these services into an
additional province creates scale and efficiency for the wholesale
business segment," shared Trevor
Fencott, Chief Executive Officer of Fire & Flower. "We
will look to continue to pursue business opportunities and
acquisitions that drive additional revenue by adding value to
existing business segments."
About Fire & Flower
Fire & Flower is a leading, technology-powered, adult-use
cannabis retailer with more than 100 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.
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 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
the quarter ended October 30, 2021
filed on its issuer profile on SEDAR at www.sedar.com .
The forward-looking statements contained in this press release are
made as of the date of this press 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.