Forum

Welcome to the Cannabis Investing Newsletter Forum. Feel free to find your favorite cannabis stocks and contribute content as you please; content that continues the discussion of, and analysis of, cannabis stocks. – D. H. Taylor

Notifications
Clear all

Fire & Flower enter California Market


Isail4fun
(@rtimothyobrienhotmail-com)
Eminent Member
Joined: 4 months ago
Posts: 25
Topic starter  

TORONTO — Fire & Flower Holding Corp.’s strategic licensing partner, American Acres Managers, has officially changed its name to Fire & Flower U.S. Holdings and has opened its first Fire & Flower branded store in Palm Springs, Calif.

Fire & Flower is an independent adult-use cannabis retailer that owns and operates the Fire & Flower, Friendly Stranger, Happy Dayz and Hotbox brands. Alimentation Couche-Tard Inc., parent of the Circle K convenience-store brand, in 2019 made a strategic investment in Fire & Flower Holdings Corp., investing about $26 million to obtain a 9.9% ownership interest in Fire & Flower. Through the strategic investment of Couche-Tard., Laval, Quebec, Fire & Flower has set its sights on the global expansion as new cannabis markets emerge.

Fire & Flower, Edmonton, Alberta, announced its strategic entry into the U.S. cannabis market in February 2021 when it signed a licensing agreement with American Acres to license its Fire & Flower brand, store operating system and Hifyre technology platform for dispensaries in California, Arizona and Nevada.

Through this licensing arrangement, American Acres is expanding Fire & Flower's retail footprint in the United States with the rollout of new Fire & Flower stores in targeted, high-growth markets, the company said.

“We have reached a significant milestone for our company as we have officially planted our roots in the U.S. cannabis market through our strategic partner, American Acres,” said Trevor Fencott, Fire & Flower CEO. “Our Hifyre cannabis digital retail and analytics platform has propelled our growth and leadership position in Canada, allowing us to successfully capture consumer buying behaviors and apply predictive and real-time analytics unlike any of our competitors.

“As we have continued to demonstrate the value of our technology through the rapid expansion of our multibanner retail network of over 85 stores throughout Canada, the expansion of our brand and technology into the U.S. is the next step in our evolution,” he continued. “We are pleased to now be delivering the same omnichannel, convenience-oriented cannabis retail experience to U.S. consumers and pave the way for the future of cannabis retail in the U.S as legislation continues to develop.”

In connection with the licensing agreement with American Acres, Fire & Flower received an option exercisable to acquire American Acres at a discount to fair market value. The company anticipates that the acquisition will occur upon the federal legalization of adult-use cannabis in the United States or when otherwise permitted by the policies of the Toronto Stock Exchange or any other stock exchange on which the company's securities are listed for trading.


TheQueen
(@gtosali1967)
Eminent Member
Joined: 3 months ago
Posts: 42
 

FFLWF @ .95?      


ReplyQuote
Cannabis Investing
(@cannabis-investing)
Member Moderator
Joined: 11 months ago
Posts: 121
 

oops wrong stock. FFNTF, got some of them yesterday.

I don't own any fflwf at this time.


ReplyQuote
D. H. Taylor
(@dhtaylor)
Member Admin
Joined: 1 year ago
Posts: 533
 

@rtimothyobrienhotmail-com @cannabisinvesting @gtosali1967

There is an agreement where Couche-Tard can acquire up to 51% of Fire & Flower stock - they currently have 9%.  They are going to exercise this.  The thing is, the price is between $2.00 - $6.00, or something like that (I'm going from memory).  The current price is $4.00 (roughly).  I have sent an email to Fire & Flower IR asking about how this acquisition is going to take place.  

If they make the investment in the broader market it could push the stock upwards.  


ReplyQuote
Isail4fun
(@rtimothyobrienhotmail-com)
Eminent Member
Joined: 4 months ago
Posts: 25
Topic starter  

DH:

The buyout price was based on the stock price prior to the Reverse Split of 10 to 1.

Now that the Reverse Split has taken place, is the new buyout price Ten times the original projected price from $2 to $6 a share.  ($20.00 to $60.00) because of the fewer number of shares outstanding?

I am losing a large amount of money on this stock.  I was a believer in the CEO that an attractive profit was ahead of me in Two years if I waited for the buyout.  I am no longer a believer!


ReplyQuote

Leave a reply

Author Name

Author Email

Title *

Maximum allowed file size is 10MB

 
Preview 0 Revisions Saved
Share: