Fire & Flower Holdings (TSX: FAF) announced that its Fire & Flower subsidiary has closed the acquisition of a licensed retail cannabis operator in Saskatchewan from Mera Cannabis.
FAF has acquired all of the shares of the licensed retail cannabis operator in Regina and has re-opened a store at 680 E Victoria Avenue in Regina. Mera Cannabis has received $1.50 million in cash and 2,268,191 common shares of Fire & Flower as part of the deal.
Saskatchewan is a key market for Fire & Flower, according to Trevor Fencott, the CEO of the company.
“Saskatchewan continues to be a key market for Fire & Flower because of our ability to buy directly and efficiently from licensed producers through our wholesale business, Open Fields Distribution. This province provides a test market for cannabis products through the HifyreTM digital cannabis retail and analytics platform,” Fencott stated.
Fire & Flower is an adult-use cannabis retailer in Canada. The company is focused on education-focused retailing and connects consumers with cannabis products through the HifyreTM digital platform. It is a licensed cannabis retailer that owns or has interests in cannabis retail store licenses in the provinces of Alberta, Saskatchewan, Manitoba and Ontario, and the Yukon territory.