Fire & Flower Holdings completed its acquisition of four retail shops in Saskatchewan from Prairie Sky Cannabis and announced two new stores opening in the province.
Fire & Flower Holdings (TSXV:FAF) completed its acquisition of four retail shops in Saskatchewan from Prairie Sky Cannabis and announced two new stores opening in Alberta.
As quoted in the press release:
Prior to the Acquisition, the Vendor operated the Acquired Locations as licensed cannabis retail stores, including e-commerce sales throughout the province of Saskatchewan, under the name “Jimmy’s Cannabis Shop.”
“The closing of the acquisition of four additional retail cannabis stores in the province of Saskatchewan establishes Fire & Flower as a leader in this province. Our extensive geographic footprint enables us to serve communities across the province and provides us the ability to deliver trusted e-commerce consumer sales as part of our strategic growth in the market,” shared Trevor Fencott, Chief Executive Officer of Fire & Flower. “The opening of six additional stores across multiple provinces demonstrates the successful execution of the Company’s aggressive growth strategy and helps position us to meet our targets for the year.”
Upon the opening of the 6 additional retail stores, there will be 17 Fire & Flower branded, fully licensed cannabis stores open across the provinces of Alberta, Saskatchewan and Ontario.
In conjunction with the Acquisition the Company has issued 4,961,832 common shares and has paid C$6,500,000 in cash to the Vendor in satisfaction of the purchase price.