Circle K Owns 20% of Fire & Flower
Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWF) announced that 2707031 Ontario Inc. the wholly-owned indirect subsidiary of Alimentation Couche-Tard Inc. (OTC: ANCUF), the owners of Circle K, has delivered in escrow its exercise notice and gross proceeds of $9,770,374.47 to exercise warrants to acquire 10,505,779 common shares of Fire & Flower at an exercise price of $0.93 per common share pursuant to the terms of an Amended and Restated Warrant Certificate dated September 16, 2020.
ACT, together with 2707, currently owns 66,328,421 common shares of Fire & Flower representing approximately 19.9% of its issued and outstanding shares. Issuance of the Shares will increase ACT’s collective ownership of common shares of Fire & Flower by approximately 2.45%.
“Alimentation Couche-Tard has been a strategic partner of Fire & Flower for almost two years and has been key in supporting the expansion of our data-driven retail network and improving our financial position through their continued investment. The exercise of these warrants speaks to the continued growth of our partnership and 2707’s strong support of Fire and Flower’s technology-driven retail strategy to drive ongoing financial and operational growth. With our strengthened balance sheet, we are strategically positioned to expand across Canada and in the U.S. as we continue to build out our omni-channel retail portfolio,” said Trevor Fencott, Chief Executive Officer of Fire & Flower.
TGOD Pays Debts
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US-OTC: TGODF) reported that its wholly-owned Quebec subsidiary Medican Organic Inc. has completed the sale of the majority of its assets in Valleyfield, Quebec, including all industrial and agricultural land, main hybrid greenhouse, rooftop greenhouse, all support buildings and certain related equipment, to Cannara Biotech (OPS) Inc. for the $27 million purchase price. In addition, Medican received a $5.7 million deposit refund from Hydro-Quebec. TGOD repaid approximately $31.8 million to its senior lender to settle all of its outstanding obligations and terminated the loan agreement with the lender.