Fire & Flower Holdings Corp. (“FFHC”) (TSX: FAF) and its wholly-owned subsidiary Fire & Flower Inc. (collectively with FFHC, “Fire & Flower” or the “Company”), today announced that it has begun selling new “cannabis 2.0” product formats in its retail stores in the province of Saskatchewan.
The Company is among the first retailers in Canada to be selling these new product formats. This has been achieved through a private wholesale model in the province of Saskatchewan, where the Company’s wholly-owned distribution business, Open Fields Distribution purchases from and negotiates prices directly with Licensed Producers.
New product formats in Fire & Flower’s assortment will be composed of edibles including gummies, mints and chocolates; and concentrate vaporizers in both all-in-one and cartridge formats. Fire & Flower’s initial assortment of cannabis 2.0 products in the province is anticipated to include offerings from the following Licensed Producers and brands prior to the end of 2019: Aphria, Aurora, Dosist, Cronos, The Green Organic Dutchman, High Park, Organigram, Redecan, and Sundial.
“With Fire & Flower being one of the first retailers in Canada to stock new cannabis formats, this exemplifies the clear benefits of the private distribution model including price, access and diversity of product within the province of Saskatchewan,” shared Trevor Fencott, Fire & Flower’s Chief Executive Officer. “We have demonstrated leadership through establishing Open Fields Distribution which supplies both the Fire & Flower retail network and external accounts within the province of Saskatchewan. There is significant demand for these new product formats in the market and we look forward to bringing these products to our loyal customers.”
“Our team has worked diligently over the last year and we are thrilled to be launching our Solei, RIFF and Good Supply vaporizers in 510 and all-in-ones at Fire & Flower stores across the province of Saskatchewan,” said Bernie Yeung, Vice President, Sales & Channel Strategy with Aphria Inc. “We are confident in our market readiness across the country and look forward to working closely with our retail partners to ensure we have the right brands and product offerings for consumers as we strive to combat the illicit market.”
Fire & Flower will continue to monitor consumer preferences of new product formats using the Hifyre digital retail and analytics platform to judiciously manage its product assortment and inventory on-hand.
As new products, including beverages and topcials, become available, Fire & Flower expects to include these products in the Company’s assortment, thereby increasing consumer choice of new product formats.
The Company does not yet have a confirmed date for the release of new cannabis product formats in provinces where government-owned provincial distributors control the supply chain.
Our customers are invited to use Fire & Flower’s e-commerce website or the Spark PerksTM FastlaneTM service to order online and pickup in store as we anticipate high demand for initial products.
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 licensed cannabis retailer that owns or has interest in cannabis retail store licences in the provinces of Alberta, Saskatchewan, Manitoba and Ontario and the Yukon territory.
Through its strategic investment with Alimentation Couche-Tard Inc. (ATD.A, ATD.B), the Company has set its sights on the global expansion as new cannabis markets emerge.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This news 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”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions.
Forward-looking statements are based on the opinions and estimates of management of FFHC at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown risks and uncertainties, many of which are beyond the control of FFHC, which may cause FFHC’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct.
FFHC assumes no obligation to publicly update or revise forward-looking statements to reflect new information, future events or otherwise, except as expressly required by applicable law.