Fire & Flower to Open Two Locations in Downtown Edmonton, Alberta

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES/

EDMONTON, Aug. 22, 2019 /CNW/ - Fire & Flower Holdings Corp. and its wholly-owned subsidiary Fire & Flower Inc. (collectively, "Fire & Flower" or the "Company") (TSX: FAF), today announced that it has received two additional cannabis retail store licences from the Alberta Gaming, Liquor and Cannabis Commission (the "AGLC") for locations in Edmonton, Alberta.

Building upon the rapid development and expansion of Edmonton's downtown, the Rice Howard Way location at 10141 – 100A Street, Edmonton, Alberta will be the only cannabis retail store located in the city's downtown core. This store is located in a high traffic location near major office towers, hotels and the newly built Edmonton arena district.

The Westmount store will be located at 12225 – 107 Avenue, near the high traffic 124^th street area in Edmontonand will serve the vibrant residental and commercial area west of downtown Edmonton. With the opening of these locations, Fire & Flower will have 9 stores in the Edmonton metropolitan region.

The Company anticipates these stores to be open and commence selling cannabis during the week of September 9, 2019 and will announce the specific opening dates and operating hours of both locations at its earliest opportunity on its website at www.fireandflower.com/locations/.

"As an Edmonton-based company, we are thrilled to be opening the very first cannabis retail store in the city's vibrant and growing downtown core," shared Trevor Fencott, Fire & Flower's Chief Executive Officer. "These are both major locations in the key metropolitan market of Edmonton, where our company is headquartered. Customers can shop confidently knowing they are supporting their local community while being part of an Edmonton success story in this new emerging market."

Fire & Flower now owns or has interest in 30 cannabis retail store licenses across the provinces of Alberta, Saskatchewan, Manitoba, Ontario and the Yukon territory.

The Company continues to focus on opening new retail stores across Alberta, where the AGLC continues to issue retail licences at a rapid rate, and in other Canadian provinces where private retail is permitted.

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, Ontario and the Yukon territory.

Through its strategic investment with Alimentation Couche-Tard (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 the Company 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 the Company, which may cause the Company'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.

The Company 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.

SOURCE Fire & Flower Holdings Corp.

Investor Relations, Chris Bolivar, [email protected], 1-833-680-4948; Media Relations, Nathan Mison, [email protected], 780-784-8859