Spark Perks Launches in Circle K Co-Located Store in Greater Toronto Area
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New co-located store in Brampton offers Spark Perks™ members a fast and convenient shopping experience at a high-traffic Circle K store
TORONTO, Sept. 29, 2022 /CNW/ - Fire & Flower Holdings Corp. ("Fire & Flower" or the "Company") (TSX: FAF) (OTCQX: FFLWF), a leading cannabis consumer retail and technology platform announced today that in collaboration with its strategic partner, Alimentation Couche-Tard Inc. ("ACT"), that Spark Perks™ members can now experience a new fast and convenient way of shopping for cannabis in the Greater Toronto Area through Circle K's new co-located store in the Brampton market.
The co-located store is located directly adjacent to the Circle K at 1990 Steeles Avenue West, Brampton, Ontario. This easily accessible location showcases a convenience cannabis store model and expands on the many products and services offered by the adjacent Circle K store including fuel, car wash, food, snacks and convenience items.
"This convenience-based shopping model is a major step change in the industry and provides a competitive advantage for both Fire & Flower and Circle K in the transformation of the cannabis consumer shopping experience," said Stéphane Trudel, Chief Executive Officer of Fire & Flower. "Fire & Flower anticipates reaching a total of 10 Circle K co-located stores operating using its technology and brands within the next twelve months. The opening of this store in the GTA demonstrates our progress towards this goal and builds upon the two pilot stores that are already open and operating in Alberta."
Spark PerksTM members and Circle K customers are served in a fast, convenient, and personal way leveraging the Hifyre™ digital retail platform licensed to Circle K which powers every customer interaction in the store and online shopping at fireandflower.com, with quick and easy pickup at the store. Spark PerksTM members receive exclusive benefits including member pricing on top selling products both in store and online.
ACT and Fire & Flower have an existing Master Franchise Agreement ("MFA") in several provinces to operate Fire & Flower branded cannabis stores co-located with Circle K stores and use the Hifyre™ digital retail platform.
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; successful negotiation of licensing and/or franchise agreements for additional locations on acceptable terms; the ability of the Company to successfully achieve its business objectives; and political and social uncertainties.
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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