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    FAF   CA3181083054

FIRE & FLOWER HOLDINGS CORP.

(FAF)
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Fire & Flower Announces Change to Its Executive Management Team

10/28/2021 | 08:00pm EST

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES/ 

TORONTO, Oct. 28, 2021 /CNW/ - Fire & Flower Holdings Corp. ("Fire & Flower" or the "Company") (TSX: FAF) (OTCQX: FFLWF), a leading, technology-powered, adult-use cannabis retailer, today announced that Nadia Vattovaz is no longer with the company effective October 28, 2021.  Ms. Vattovaz's duties will be assumed by members of Fire & Flower's senior management team as the Company continues its transition to an asset-light, technology-focused model.

Ms. Vattovaz has been instrumental to the growth of the Company's Canadian retail business, most recently serving as the Company's Chief Operating Officer responsible for overseeing the Company's real estate, construction, marketing, merchandising, distribution and retail operations functions.  Ms. Vattovaz previously held executive leadership roles with the Company as Executive Vice-President, Finance, Chief Financial Officer and Executive Vice-President, Operations. 

"We thank Nadia for her dedication and contributions to Fire & Flower throughout its early stages of rapid growth," said Trevor Fencott, President and CEO of Fire & Flower.  "Nadia's retail and financial experience has been foundational in our development both as a public company and as a leading Canadian cannabis retailer.  The Company is well-positioned for its next phase of growth through technology-driven, highly scalable, asset-light opportunities to deliver regulated cannabis products to customers in Canada and internationally. The Board of Directors, management and staff of Fire & Flower wish Nadia the best in her future endeavours."

About Fire & Flower 

Fire & Flower is a leading, technology-powered, adult-use cannabis retailer with more than 95 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 education-focused, 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 & Flower U.S. Holdings States when permitted through its strategic licensing agreement with Fire upon the occurrence of certain changes to the cannabis regulatory regime.

Fire & Flower is a multi-banner cannabis retail operator that owns and operates the Fire & Flower™, Friendly Stranger™, Happy Dayz™ and Hotbox™ brands. Fire & Flower Holdings Corp. owns all issued and outstanding shares in Fire & Flower Inc. and Friendly Stranger Holdings Corp., licensed cannabis retailers that own and operate cannabis retail stores in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, and the Yukon territory. 

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 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 29, 2021 and "Risks and Uncertainties" in the management discussion and analysis for the thirteen weeks ended July 31, 2021 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.

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2022 179 M 140 M 140 M
Net income 2022 - - -
Net Debt 2022 24,6 M 19,2 M 19,2 M
P/E ratio 2022 -
Yield 2022 -
Capitalization 165 M 129 M 129 M
EV / Sales 2022 1,06x
EV / Sales 2023 0,91x
Nbr of Employees -
Free-Float 68,5%
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Mean consensus BUY
Number of Analysts 6
Last Close Price 4,46 CAD
Average target price 13,15 CAD
Spread / Average Target 195%
Managers and Directors
Trevor Fencott Chief Executive Officer & Director
Donald Arthur Wright Chairman
Suzanne Langier VP-Information technology, People & Culture
Sharon M. Ranson Independent Director
Norman Inkster Independent Director