Fire & Flower Holdings Corp. Archives - Green Market Report

William SumnerWilliam SumnerJuly 24, 2019
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3min4242

You may not be able to purchase cannabis from your local gas station, but that hasn’t stopped the international convenience store chain Alimentation Couche-Tard (TSX: ATD.A ATD.B) from staking a claim in the industry. Today it was announced that the company would purchase a stake in Fire & Flower Holdings Corp. (TSXV: FAF) $25.9 million.

With over 16,000 stores in 25 countries, Fire & Flower hopes to leverage Couche-Tard’s retail footprint to help aid its own international expansion. This does not mean that company’s cannabis products will be found in a Couche-Tard convenience store anytime soon, but rather that Couche-Tard’s resources will help with growth initiatives like growing and expanding the company’s digital platform Hifyre.

“This strategic investment by Couche-Tard, one of the world’s largest retailers, is transformative for Fire & Flower,” said Fire & Flower CEO, Trevor Fencott. “The support of Couche-Tard’s world-class leadership team, coupled with their impressive international footprint which includes major markets such as the US, Mexico and Europe, provide us with outstanding opportunities for aggressive growth.”

The purchase will be made by an indirect wholly-owned subsidiary of Couche-Tard through a subscription agreement, upon which Fire & Flower will issue 24,289,706 common shares of the company at a price of $1.07 per common Share, representing a 9.9% ownership interest.

Concurrently, Couche-Tard will receive three series of common share purchase warrants. If exercised, Couche-Tard would increase its stake in the Fire & Flower to 50.1%. Couche-Tard will also be granted board nomination rights. Upon closing of the transaction, Fire & Flower will uplist to the TSX.

“Couche-Tard is excited to make this strategic investment in one of the fastest growing cannabis ‘pure-play’ retailers,” said Brian Hannasch, President and CEO of Couche-Tard. “This investment in Fire & Flower, with a path to a controlling stake, will enable us to leverage their leadership, network and advanced digital platform to accelerate our journey in this new and flourishing sector.”


William SumnerWilliam SumnerJune 26, 2019
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4min1980

It’s time for your Daily Hit of cannabis financial news for June 26, 2019.

On the Site

Canopy Growth

Canopy Growth Corporation (TSX: WEED, NYSE: CGC)  has acquired Saskatoon-based bio-product extractor KeyLeaf Life Sciences. Canopy Growth said it has been working closely with KeyLeaf – formerly known as POS Bio-Sciences – as a trusted partner building out extraction processes and technology for the past year as it refines its scale extraction model for Canadian and global markets.

Executive Spotlight: Corey Mangold, Co-Founder & CEO of Orchid Essentials

No stranger to entrepreneurship, Corey Mangold started his first company at the young age of 18. Even in his teens, he understood the great risk, and potential reward of going into business for yourself and accepted that challenge head-on.

In Other News

GrowGeneration Corp.

GrowGeneration Corp. (OTCQX: GRWG) announced that it had raised $12.8 million in an upsized private placement offering, issuing 4,123,254 shares at a price of $3.10 and 2,061,632 warrants exercisable at $3.50 per share. All the company’s strategic institutional investors participated in the offering. “With the completion of our oversubscribed offering, the Company now has over $16 million of cash on the balance sheet to execute on multiple acquisitions, with several planned to close in the 3rd and 4th quarters of 2019,” said Darren Lampert, Co-Founder and CEO of GrowGen.

Fire & Flower Holdings Corp.

Fire & Flower Holdings Corp. (TSXV: FAF) announced the closing of a private placement offering. Selling 27,188 convertible debenture units at a price of $1,000 per unit, the company raised $27.18 million. The company also announced its financial results for the three-month period ending on May 4, 2019. Recognized revenue was $9.5 million, with a gross margin of 38.5%. The net loss for the period was $17.1 million. “These results provide a solid foundation upon which Fire & Flower will continue to execute on our growth strategy. Our growth plan is well funded and in addition to the strength of our retail network, we have set ourselves apart as a modern retail company through the Hifyre digital cannabis platform that is reflective in our financial performance” commented Fire & Flower CEO Trevor Fencott.



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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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