Fire & Flower and Hifyre Announce Proposed Acquisition of PotGuide
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE Expert services/
Acquisition will place Hifyre as one of the world’s most visited networks of hashish web sites and material platforms
Ongoing execution of Fire & Flower’s expanded electronic method drives conversion of foremost hashish web sites into virtual on-line dispensaries
TORONTO, Aug. 26, 2021 /CNW/ – Hearth & Flower Holdings Corp. (“Fireplace & Flower” or the “Firm“) (TSX: FAF) (OTCQX: FFLWF) and its wholly-owned subsidiary Hifyre™ Inc. (“Hifyre“), now announced the proposed acquisition (the “Acquisition“) of all issued and remarkable shares of PGED Corp., (“PotGuide“), a person of the world’s biggest hashish web sites and content platforms.
PotGuide is a single of the most visited cannabis internet websites in North The usa, as claimed by industry-regular on-line targeted traffic equipment. Alongside with the proposed acquisition of certain assets of Wikileaf Systems Inc. (“Wikileaf“) declared previously this thirty day period, the Hifyre electronic network will come to be just one of the world’s most visited networks of hashish websites and written content platforms.
Upon closing, the Acquisition is predicted to be quickly accretive to the Firm’s earnings and profitability and will give Hifyre with a U.S. foundation for engineering and operations.
Subsequent closing of the Acquisition, Hifyre intends to leverage this sizeable person website traffic and its proprietary white-label dispensary e-commerce software program to transform traffic into hashish and accessory purchases. The purchases will be fulfilled by the Fireplace & Flower retail network across Canada and in California via its agreement with Fire & Flower U.S. Holdings Inc. Hifyre anticipates creating more agreements with dispensary networks across Canada and the U.S. to satisfy cannabis buys in as numerous geographic places as achievable.
PotGuide and Wikileaf carry an existing subscriber foundation of close to 225,000 cannabis people into the Spark Perks™ ecosystem. Subscribers will be invited to enroll in the Company’s Spark Perks™ member system, which now boasts more than 300,000 subscribers. The plan makes it possible for customers to unlock special added benefits and will help Hifyre construct a greater being familiar with of cannabis buyer tastes throughout North The us as component of the Hifyre IQ facts application.
“As Fire & Flower has developed in excess of the previous handful of several years, we have correctly established the worth of our Hifyre information analytics retail system and it is a terrific accomplishment to see the immediate good results of our expanding electronic strategy with the acquisition of PotGuide,” shared Trevor Fencott, Chief Executive Officer of Fire & Flower. “Now that we are strategically getting two of the most visited cannabis on line web-sites, PotGuide and Wikileaf, we have recognized Fire & Flower and Hifyre as primary worldwide players in digital hashish site visitors and think we can provide even higher benefit to these higher-demand from customers houses.”
“PotGuide is psyched to join the Fire & Flower and Hifyre community of houses and we seem forward to continuing to build just one of the foremost North American hashish know-how corporations,” shared Jeremy Bamford, Main Govt Officer of PGED Corp. “The skill to leverage the considerable internet traffic of PotGuide.com with Hifyre’s hashish e-commerce know-how will allow us to supply an elevated value proposition to our users and boost the progress approach of our business.”
Definitive Share Acquire Agreement of PotGuide
The Business has entered into a definitive share invest in arrangement for all issued and exceptional shares of PGED Corp., the Denver, Colorado dependent operator of PotGuide.com (the “Share Buy Arrangement“).
Complete thought for the order is approximately US$8.5 million, payable by way of US$4. million income thing to consider and 5,978,050 typical shares of Fire & Flower based on the Firm’s 10-day volume weighted typical price tag. The Acquisition is predicted to shut through the Company’s fiscal third quarter and is topic to the gratification or waiver of all problems in the Share Obtain Settlement, which includes the receipt of relevant regulatory approvals (which include the approval of the Toronto Stock Trade).
To master extra about PotGuide, check out https://potguide.com.
About Hearth & Flower
Hearth & Flower is a main, technology-driven, adult-use hashish retailer with far more than 85 corporate-owned outlets in its community. The Organization leverages its wholly-owned know-how enhancement subsidiary, Hifyre, to continuously progress its proprietary retail operations product whilst also providing further impartial large-margin revenue streams. Fireplace & Flower guides individuals by way of the intricate environment of cannabis through instruction-focused, greatest-in-course retailing whilst the Hifyre digital retail and analytics system empowers retailers to enhance their connections with individuals. The Firm’s management team combines substantial knowledge in the technology, hashish and retail industries.
By way of the strategic expense of Alimentation Couche-Tard Inc. (proprietor of Circle K usefulness shops), the Company has established its sights on world wide expansion as new hashish markets emerge and is poised to increase into the United States when permitted as a result of its strategic licensing arrangement with American Acres Managers upon the occurrence of selected improvements to the cannabis regulatory routine.
Fireplace & Flower is a multi-banner cannabis retail operator that owns and operates the Fireplace & Flower, Pleasant Stranger, Pleased Dayz and Hotbox brands. Fire & Flower Holdings Corp. owns all issued and fantastic shares in Hearth & Flower Inc. and Welcoming Stranger Holdings Corp., licensed cannabis retailers that personal and function cannabis retail outlets in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and the Yukon territory.
To master more about Fire & Flower, visit www.fireandflower.com.
About Hifyre
The Hifyre Digital Retail and Analytics System is a proprietary ecosystem of products that incorporates the Spark Benefits member application, Hifyre A single retail program system and the Hifyre IQ hashish data and analytics platform.
The Hifyre platform also supports Fire & Flower’s innovative operations and offers a aggressive benefit in delivering a tailored digital working experience and comprehending consumer behaviours in the evolving cannabis market.
To master more about Hifyre, take a look at www.hifyre.com.
CAUTIONARY Assertion With regards to Forward-Seeking Facts
This news launch is made up of sure ahead-looking information and facts within the meaning of applicable Canadian securities laws (“ahead-seeking statements”). All statements other than statements of current or historical reality are ahead-looking statements. Forward-looking statements are normally, but not generally, determined by the use of phrases these as “foresee”, “realize”, “could”, “believe that”, “system”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “be expecting”, “project” and similar terms, including negatives thereof, suggesting upcoming results or that specified occasions or disorders “may possibly” or “will” arise. These statements are only predictions. Forward-on the lookout information in this information launch involves, but is not constrained to, statements in respect of the consummation of the Acquisition and the integration of PotGuide into the Company’s operations and electronic system.
Ahead-looking statements are primarily based on the viewpoints and estimates of administration of Hearth & Flower at the day the statements are made dependent on facts then readily available to the Fireplace & Flower. A variety of components and assumptions are utilized in drawing conclusions or creating the forecasts or projections established out in forward-looking statements Forward-looking statements are topic to and contain a range of regarded and unfamiliar, variables, threats and uncertainties, lots of of which are further than the command of Fireplace & Flower, which may possibly induce Fire & Flower’s actual overall performance and benefits to differ materially from any projections of potential overall performance or benefits expressed or implied by such ahead-searching statements. This kind of elements, among the other factors, include things like: regulatory and other approvals or consents fluctuations in common macroeconomic disorders fluctuations in securities markets the influence of the COVID-19 pandemic the potential of the Business to productively accomplish its organization objectives and political and social uncertainties.
No assurance can be supplied that the expectations mirrored in forward-seeking statements will confirm to be accurate. Whilst the ahead-seeking statements contained in this information launch are based mostly on what management of the Enterprise believes, or believed at the time, to be acceptable assumptions, the Organization can’t guarantee shareholders that genuine final results will be reliable with this kind of ahead-looking statements, as there could be other components that trigger outcomes not to be as expected, estimated or supposed. Readers really should not put undue reliance on the forward-seeking statements and details contained in this information launch. Supplemental facts concerning threats and uncertainties relating to the Company’s organization are contained below the heading “Possibility Variables” in the Firm’s yearly info variety dated April 30, 2021 and the heading “Hazards and Uncertainties” in the administration dialogue and analysis for quarter ended May perhaps 1, 2021 submitted on its issuer profile on SEDAR at www.sedar.com. The ahead-wanting statements contained in this new release are manufactured as of the day of this information release, and the Enterprise does not undertake to update any ahead-hunting statements that are contained or referenced herein, apart from in accordance with relevant securities rules.
No stock exchange, securities commission or other regulatory authority has authorised or disapproved the facts contained herein.
Resource Fire & Flower Holdings Corp.
View initial material to download multimedia: http://www.newswire.ca/en/releases/archive/August2021/26/c8812.html