Fire & Flower Achieves C$10 Million Sales Milestone

EDMONTON, Jan. 21, 2019 /CNW/ - Fire & Flower Inc. ("Fire & Flower" or the "Company"), an independent cannabis retailer, has achieved a milestone of $10 million in sales since opening on October 17^th, 2018, the date adult-use recreational cannabis became legal in Canada. Fire & Flower opened with five shops on legalization day and has now grown the retail network to nine shops across the provinces of Alberta and Saskatchewan.

"This significant sales milestone demonstrates a strong and growing consumer demand for recreational cannabis and delivers on Fire & Flower's commitment to capture significant market share in the retail cannabis category," shared Trevor Fencott, Chief Executive Officer. "Our experienced retail operations team strives to deliver a best-in-class customer experience through a brand that is trusted by consumers in the communities we call home."

Fire & Flower looks forward to bringing its education-focused retail experience across Canada as new markets emerge, while maintaining a consistently excellent customer experience in shops that are already open. Fencott says that Fire & Flower is excited for what the future holds and the company is intent on continuing its journey of being Canada's leading cannabis retailer.

About Fire & Flower

Founded by experienced legal cannabis entrepreneurs, Fire & Flower is a leading independent adult-use cannabis retailer poised to capture significant market share in Canadian provinces and territories that allow for the private retail of adult-use recreational cannabis. The Company will provide customers with expertly-curated product selection and an education-driven customer experience.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. 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", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes. Management of the Company believes the expectations reflected in such forward-looking statements are reasonable as of the date hereof but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Various material factors and assumptions are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Those material factors and assumptions are based on information currently available to the Company, including data from publicly available governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of the retail cannabis industry which the Company believes to be reasonable. However, although generally indicative of relative market positions, market shares and performance characteristics, such data is inherently imprecise. While the Company is not aware of any misstatement regarding any industry or government data presented herein, the retail cannabis industry involves risks and uncertainties and is subject to change based on various factors.

Forward-looking statements are not a guarantee of future performance and 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.

Any forward-looking statements are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.

SOURCE Fire & Flower Inc.

Media Relations Contact: Nathan Mison, Vice President, Government and Stakeholder Relations, [email protected], 780-951-1106