/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES./
EDMONTON , May 31, 2019 /CNW/ - Fire & Flower Holdings Corp. and its wholly-owned subsidiary Fire & Flower Inc. (collectively, "Fire & Flower" or the "Company") (FAF.V), today announced its near-term schedule for opening additional licensed cannabis retail stores across the province of Alberta .
The announcement comes following the Alberta Gaming, Liquor and Cannabis Commission's (the "AGLC") announcement that it has seen a sufficient enough increase in cannabis inventory available to lift its previously announced mortarium on issuing new retail licences.
The AGLC has announced it will resume issuing five licences on a weekly basis to approved retailers on its licensing queue on a first-in, first-out basis. More information on the lift of the moratorium can be found on the AGLC's website at the following address: https://aglc.ca/news/retail-cannabis-licence-moratorium-lifted.
Fire & Flower currently has six fully built locations on AGLC's current licence queue. The Company is preparing to open these additional stores at its earliest opportunity once licensed. The Company is also continuing to build out additional stores in Alberta which it expects to open in the third and fourth quarters of 2019.
"Fire & Flower applauds the AGLC and the Government of Alberta for their leadership of Alberta's growing adult-use cannabis industry. The AGLC's work in securing reliable and diverse product supply reinforces Alberta's forward-looking environment for retail adult-use cannabis," shared Trevor Fencott , Chief Executive Officer of Fire & Flower. "Having built out stores across the province of Alberta in anticipation of a resumption of licensing validates Fire & Flower's first-to-market growth strategy."
Fire & Flower will announce the opening dates and operating hours of additional licensed locations at its earliest opportunity.
About Fire & Flower
Fire & Flower is a leading purpose-built, independent adult-use cannabis retailer poised to capture significant Canadian market share. The Company guides consumers through the complex world of cannabis through education-focused, best-in-class retailing that is centered around its proprietary HiFyre digital platform. The Company's leadership team combines extensive experience in the cannabis industry with strong capabilities in retail operations.
Fire & Flower Holdings Corp. owns all issued and outstanding shares in Fire & Flower Inc., a licenced cannabis retailer in the provinces of Alberta and Saskatchewan and is a consultant and licensor to Fire & Flower-branded retail locations in province of Ontario .
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
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SOURCE Fire & Flower Holdings Corp.
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