Leveraging Spark Perks™ member program and
Hifyre™ consumer technology platform in response to fast growing
value-oriented cannabis consumer segment
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
UNITED STATES WIRE SERVICES/
TORONTO, April 21,
2022 /CNW/ - Fire & Flower Holdings Corp.
("Fire & Flower" or the "Company") (TSX: FAF)
(OTCQX: FFLWF), a leading cannabis consumer retail and technology
platform announced today that it will expand the Spark Select
industry-first member pricing program. The expansion of the program
comes in response to the fast-growing, value-oriented cannabis
consumer segment.
The industry-first Spark Select program provides value pricing
for members on select products. Within the expansion of the
program, there will be a larger number of products offered with top
products discounted to address the needs of this highly competitive
market. Fire & Flower will leverage the deep insights garnered
from our proprietary Hifyre IQ analytics program to establish an
effective pricing and product strategy that provides our customers
with products that meet their buying habits and interests.
Anticipated benefits of the expanded Spark Select program
include: driving higher overall retail sales, increased engagement
from Spark Perks members, new Spark Perks membership benefits, all
while addressing the fastest growing consumer segment of value
oriented customers.
"The Canadian cannabis retail market has become increasingly
competitive, especially within the value segment as we see
customers migrate from the legacy market," shared Trevor Fencott, Chief Executive Officer of Fire
& Flower. "Our mission from the very start was to deliver a
cannabis retail experience that was unmatched by any of our
competitors. We were the first in the industry to offer
member pricing and our enhanced version of this program, set to
launch in the coming weeks, is anticipated to address consumer
needs for value priced products while creating long term
sustainability within our business."
More details on the Spark Select expanded program will be
available on the Fire & Flower website at
https://www.fireandflower.com at the Company's earliest
opportunity.
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, 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.
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.