Fire & Flower Announces Closing of C$27 Million Capital Raise

Fire & Flower Announces Closing of C$27 Million Capital Raise

Fire & Flower Inc., an independent corporate cannabis retailer shared that it has successfully closed a convertible debenture capital increase leading to aggregate gross proceeds of C$27,317,000 on August 1, 2018.

Significant participants in the capital increase included federally certified manufacturers Aphria Inc. and HEXO / The Hydropothecary Corporation, as previously announced.

Fire & Flower will utilize the funding for expansion and build-out of its stores in Alberta and Saskatchewan, working capital and general corporate purposes.

“With this capital increase and key strategic relationships in place, Fire & Flower is well-positioned to capture significant market share in Canadian retail cannabis markets,” shared Trevor Fencott, Fire & Flower’s Chief Executive Officer. “Fire & Flower is well capitalized as we implement our growth strategy in Canadian states allowing for personal cannabis retail.”

Fire & Flower is a major independent adult-use cannabis retailer poised to capture significant market share in Canadian provinces that allow private retail. The business will provide customers with professionally curated product choice and a best-in-class, education-driven customer experience. 

Founded by top legal cannabis entrepreneurs, Fire & Flower’s leadership team carries extensive experience in establishing successful businesses and within the legal cannabis industry. The business is versed in the national legalization of cannabis and is actively engaged in the evolution of the new cannabis industry throughout the country.

SOURCE Fire & Flower Inc..

View original content: http://www.newswire.ca/en/releases/archive/August2018/20/c8369.html

Media Relations Contact: Nathan Mison, Vice President, Government and Stakeholder Relations, nmison@fireandflower.com, Ph: 780-951-1106Copyright CNW Group 2018

Published at Mon, 20 Aug 2018 14:08:53 +0000

Posted in: Investing

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