/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
Asset light e-commerce model focuses on acquiring significant cannabis online user traffic, enrolling cannabis consumers into Spark Perks™ program, and launching branded online dispensary model in
Wikileaf, which generates significant user traffic through engaging content and domain name strength, will be boosted through the incorporation of Hifyre's unique data-driven technology solutions into its existing platform. Hifyre will transform the Wikileaf website into a virtual online dispensary for cannabis and accessory products utilizing the same e-commerce proprietary technology platform that powers the
A key aspect of the new digital strategy, Hifyre will create white-labelled online dispensaries fulfilled initially by the
"Hifyre's expanded digital strategy offers a significant opportunity to expand the Company's e-commerce revenue channels through an asset-light and highly scalable model both in
"We believe owning the customer relationship is the most prized part of the value chain and this has been successfully achieved through membership in our Spark Perks program," shared
Definitive Asset Purchase Agreement of Wikileaf
As part of the Hifyre digital strategy, the Company has entered into a definitive asset purchase agreement with Wikileaf Technologies Inc. and certain subsidiaries thereof (the "Asset Purchase Agreement"). Pursuant to the Asset Purchase Agreement, Hifyre will acquire certain digital assets and intellectual property rights of Wikileaf.
The website, associated domain names, e-mail subscriber database, social media channels, content generation platforms, trademarks and technology stack powering the Wikileaf platform generates significant online cannabis user traffic.
Total consideration for the purchase is
To learn more about Wikileaf, visit www.wikileaf.com.
About
Through the strategic investment of Alimentation Couche-Tard Inc. (owner of
To learn more about
About Hifyre
The Hifyre Digital Retail and Analytics Platform is a proprietary ecosystem of products that includes the Spark Perks member program, Hifyre ONE retail software platform and the Hifyre IQ cannabis data and analytics platform.
The Hifyre platform also supports
To learn more about Hifyre, visit www.hifyre.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 information in this news release includes, but is not limited to, statements in respect of the consummation of the transactions contemplated by the Asset Purchase Agreement and the integration of any acquired assets into the Company's operations and digital strategy.
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 the 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: 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 heading "Risk Factors" in the Company's annual information form dated
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
SOURCE
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