Open Fields Distribution Approved to Open Cross-Docking Cannabis Logistics Services in the Province of Manitoba
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES/
Fire & Flower subsidiary expands service offering to Manitoba by leveraging relationships with key cannabis Licensed Producer partners
TORONTO, Oct. 26, 2022 /CNW/ - Fire & Flower Holdings Corp. ("Fire & Flower" or the "Company") (TSX: FAF) (OTCQX: FFLWF), a leading cannabis consumer retail and technology platform, today announced that its wholly-owned subsidiary 10926671 Canada Ltd. ("Open Fields Distribution") has received its license to operate a cross-docking cannabis logistics and distribution facility from the Liquor, Gaming and Cannabis Authority of Manitoba.
Now that the Open Fields Distribution logistics facility in Manitoba has received its license, it will begin to offer distribution and logistics services to Licensed Producers for recreational cannabis products. Open Fields Distribution has already entered into commercial agreements with Licensed Producers and will offer a broad range of logistics options for retailers in the province. The Company has leveraged its significant logistics expertise that has been gained through Open Field Distribution's existing distribution activities in the province of Saskatchewan, as well as its acquisition of Pineapple Express Delivery in early 2022.
"Through Open Fields Distribution, we are extending cannabis distribution services into a second province in Canada, building on our success in Saskatchewan," shared Stéphane Trudel, Chief Executive Officer of Fire & Flower. "Cross-docking distribution and logistics services in the province of Manitoba further enhances our strategic relationships with key licensed producer partners across all segments of our business and we look forward to adding efficiency and a high level of service to customers in Manitoba."
"Open Fields Distribution has been an important strategic partner in the province of Saskatchewan for Decibel both as a licensed producer and retailer of cannabis," shared Adam Coates, Chief Revenue Officer of Decibel Cannabis Company (TSX-V: DB). "We look forward to continuing our relationship with Open Fields in the province of Saskatchewan and bringing products to our retail customers in a more efficient manner through the new cross-docking service offered in the province of Manitoba."
Companies interested in partnering with Open Fields Distribution in the province of Manitoba can find more information at https://openfields.ca or reach out to [email protected].
Fire & Flower is a cannabis consumer retail and technology platform with more than 90 corporate-owned stores in its network. The Company leverages its wholly-owned technology development subsidiary, Hifyre Inc., to continually advance its proprietary retail operations model while also providing additional independent high-margin revenue streams. Fire & Flower guides consumers through the complex world of cannabis through best-in-class retailing while the HifyreTM digital and analytics platform empowers retailers to optimize their connections with consumers. The Company's leadership team combines extensive experience in the technology, cannabis and retail industries.
Through the strategic investment of Alimentation Couche-Tard Inc. (owner of Circle K convenience stores), the Company has set its sights on global expansion as new cannabis markets emerge and is poised to expand into the United States when permitted through its strategic licensing agreement with Fire & Flower U.S. Holdings upon the occurrence of certain changes to the cannabis regulatory regime.
To learn more about Fire & Flower, visit www.fireandflower.com.
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 Fire & Flower at the date the statements are made based on information then available to Fire & Flower. 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, variables, risks and uncertainties, many of which are beyond the control of Fire & Flower, which may cause Fire & Flower's actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include: final regulatory and other approvals or consents; fluctuations in general macroeconomic conditions; fluctuations in securities markets; the impact of the COVID-19 pandemic; the ability of the Company to successfully achieve its business objectives, political and social uncertainties, demand for the Common Shares, and market conditions.
No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Additional information regarding risks and uncertainties relating to the Company's business are contained under the headings "Risk Factors" in the Company's Annual Information Form dated April 26, 2022 and "Risks and Uncertainties" in the management discussion and analysis for the thirteen weeks ended July 30, 2022 filed on its issuer profile on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
SOURCE Fire & Flower Holdings Corp.
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