EDMONTON, Aug. 20, 2018 — /D.M.O. Newswire/ – Fire & Flower Inc. ("Fire & Flower"), an independent corporate cannabis retailer shared that it has successfully closed a convertible debenture capital raise resulting in aggregate gross proceeds of C$27,317,000 on August 1, 2018.
AltaCorp Capital Inc. and Richardson GMP Limited acted as co-lead agents for the offering. Significant participants in the capital raise included federally licensed producers Aphria Inc. and HEXO / The Hydropothecary Corporation, as previously announced.
Fire & Flower will use the funding for expansion and build-out of its stores in Alberta and Saskatchewan, working capital and general corporate purposes.
"With this capital raise and key strategic relationships in place, Fire & Flower is well-positioned to capture significant market share in Canadian retail cannabis markets," shared Trevor Fencott, Fire & Flower's Chief Executive Officer. "Fire & Flower is well capitalized as we execute our growth strategy in Canadian provinces allowing for private cannabis retail."
About Fire & Flower
Fire & Flower is a leading independent adult-use cannabis retailer poised to capture significant market share in Canadian provinces that allow private retail. The company will provide customers with expertly curated product selection and a best-in-class, education-driven customer experience.
Founded by leading legal cannabis entrepreneurs, Fire & Flower's leadership team carries extensive experience in launching successful businesses and within the legal cannabis industry. The company is versed in the national legalization of cannabis and is actively engaged in the evolution of the new cannabis industry across the country.