Fire & Flower announces expansion of Circle K roommate pilot program
Success of early pilots drives further efforts to drive retail forward
Partnership strategy in new markets across Canada
/ NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISTRIBUTION IN UNITED STATES WIRE SERVICES /
TORONTO, October 5, 2021 / CNW / – Fire & Flower Holdings Corp. (“Fire & Flower” or the “Company”) (TSX: FAF) (OTCQX: FFLWF), today announced that it has advanced its strategic initiative with its operating partner, Alimentation Couche-Tard (“ACT” ), the parent company of Circle K stores, will open new Fire & Flower cannabis retail stores adjacent to existing Circle K stores located in new markets across Canada.
The expansion of the pilot program among strategic partners will see the opening of new co-located retail stores in the coming months in the Canadian provinces of Alberta, Saskatchewan and Manitoba. The enhanced agreement also offers the possibility of further expanding the program to other high value-added markets, including Ontario and the United States.
The initial Circle K co-located store pilot program was launched in july 2020 with Alimentation Couche-Tard, which operates stores across North America and has remained a key investment partner of Fire & Flower since 2019. The first two stores, located in Calgary and Grande Prairie, Alberta used ACT’s existing lease footprint to build a small-scale Fire & Flower retail operation that offers strong economies of scale to both companies due to the opportunity to integrate the leader of the Hifyre industry of Fire & Flower™ technological and analytical platform.
“Alimentation Couche-Tard has been an invaluable partner for Fire & Flower while we were building from Canada largest retail network for legal cannabis products and services in the past two years. Our success in Canada, and now that we are entering the United States, is directly attributable to the powerful analytics and consumer data technology that we have successfully used in each of our stores through our Hifyre™ technology platform, ”said Trevor Fencott, Managing Director of Fire & Flower. “As we continue to strengthen our leadership position, we leverage our powerful consumer data, working strategically with our key partners to capture that data and together improve our collective cannabis operations, enabling Fire & Flower to advance our “light of assets”. ‘to further support our financial growth. “
Fencott continued, “As we continue to advance our relationship with Couche-Tard, we are bringing a new level of service to our vast operational footprint in Canada and beyond. We are able to leverage the power of Hifyre to enable these small, co-located stores to operate efficiently. The advanced analytics we provide allow stores to operate and manage inventory with maximum efficiency. “
About Fire and Flower
Fire & Flower is a leading, technology-powered adult cannabis retailer with over 90 company-owned stores in its network. The Company relies on its wholly owned technology development subsidiary, Hifyre, to continuously advance its proprietary model of retail operations while providing additional independent revenue streams at high margin. Fire & Flower guides consumers through the complex world of cannabis with industry-leading, education-driven retail, while the Hifyre digital retail and analytics platform enables retailers to optimize their relations with consumers. The company’s management team combines extensive experience in the tech, cannabis and retail industries.
Thanks to the strategic investment of Alimentation Couche-Tard Inc. (owner of Circle K convenience stores), the Company aims for global expansion as new cannabis markets emerge and is poised to expand into United States when permitted by its strategic licensing agreement with Fire & Flower US Holdings in the event of certain changes in the regulatory regime for cannabis.
Fire & Flower is a multi-banner cannabis retail operator that owns and operates the Fire & Flower, Friendly Stranger, Happy Dayz and Hotbox brands. Fire & Flower Holdings Corp. owns all of the issued and outstanding shares of Fire & Flower Inc. and Friendly Stranger Holdings Corp., licensed cannabis retailers who own and operate cannabis retail stores in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and the Yukon territory.
To learn more about Fire & Flower, visit www.fireandflower.com.
The Hifyre Digital Retail and Analytics platform is a proprietary ecosystem of products that includes the Spark Perks membership program, the Hifyre ONE retail software platform, and the Hifyre IQ cannabis data and analytics platform.
The Hifyre platform also supports the advanced operations of Fire & Flower and provides a competitive advantage by delivering a tailored digital experience and understanding consumer behaviors in the evolving cannabis market.
To learn more about Hifyre, visit www.hifyre.com.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This press 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”, “Continue”, “in progress”, “estimate”, “prospect”, “expect”, “project” and similar words, including their negative aspects, suggesting future results or that certain events or conditions “could” or “would occur”. These statements are only predictions. The forward-looking information contained in this press release includes, without limitation, statements regarding the co-located retail stores offered by the Company in Alberta, Saskatchewan and Manitoba.
Forward-looking statements are based on the opinions and estimates of the management of Fire & Flower as of the date the statements are made based on information then available to Fire & Flower. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set forth in the 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 control of Fire & Flower, which may result in a material difference between the performance and actual results of Fire & Flower and the projections of future performance or results expressed or implied by such forward-looking statements. These factors include, but are not limited to: regulatory and other approvals or consents; fluctuations in general macroeconomic conditions; fluctuations in the securities markets; the impact of the COVID-19 pandemic; the Company’s ability to successfully achieve its business objectives; and political and social uncertainties.
No assurance can be given that the expectations reflected in the forward-looking statements will prove to be correct. Although the forward-looking statements contained in this press release are based on what the 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 these. forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or expected. Readers should not place undue reliance on the forward-looking statements and information contained in this press release. Additional information regarding the risks and uncertainties associated with the Company’s business is contained under the heading “Risk Factors” in the Company’s annual information form dated April 30, 2021 and the “Risks and Uncertainties” section in the MD&A for the quarter ended. July 31, 2021 filed on its issuer profile on SEDAR at www.sedar.com. The forward-looking statements contained in this new press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking statements contained therein or referenced, except in accordance with applicable securities laws. .
No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained in this document.
SOURCE Fire & Flower Holdings Corp.
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