EDMONTON, June 10, 2019 /CNW/ – Fire & Flower Holdings Corp. ("Fire & Flower" or the "Company") (TSXV: FAF), today announced the Company has achieved a milestone of C$25 million in system sales since opening on October 17, 2018, the date adult-use recreational cannabis became legal in Canada.
Today, the Company, through its wholly-owned subsidiary Fire & Flower Inc. operates 18 licensed cannabis stores in the provinces of Alberta and Saskatchewan and has licensed two branded shops in the province of Ontario.
Trevor Fencott, Chief Executive Officer of Fire & Flower stated that "as the adult-use cannabis market continues to develop across Canada, this significant sales milestone demonstrates Fire & Flower's ability to open and operate best-in-class retail stores across the country. Our Hifyre digital platform including our Click & Collect service along with our retail experience team have been key drivers in achieving our level of sales."
Since adult-use legalization, Fire & Flower has processed more than 375,000 transactions. This level of customer engagement provides Fire & Flower with the ability to gain consumer insights and curate its product assortment to the evolving preferences of consumers.
Fire & Flower continues to aggressively pursue licensing opportunities in all Canadian provinces where private retail is permitted and as new market opportunities emerge.
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 while the Hifyre digital platform connects consumers with cannabis products. 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 the province of Ontario.
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