Fire & Flower Announces Confirmation of Intent to Exercise Series B Warrants by Circle K owner Alimentation Couche-Tard and Timing of Announcement of Fourth Quarter and Fiscal Year 2021 Financial & Operational Results

0
96

 

Fire & Flower Holdings Corp. (“Fire & Flower” or the “Company“) (TSX: FAF) (OTCQX: FFLWF), a leading cannabis consumer retail and technology platform announced today that 2707031 Ontario Inc., an indirect wholly-owned subsidiary of Alimentation Couche-Tard Inc. (collectively “ACT“), has confirmed its intention to exercise warrants (the “Series B Warrants“) to acquire 8,288,067 common shares of Fire & Flower (the “Shares“) pursuant to the terms of a Second Amended and Restated Warrant Certificate dated January 18, 2022 (the “Series B Warrant Certificate“) on the day that is two days following the release of the Company’s financial statements for the year ended January 29, 2022.

The exercise price for the Series B Warrants will be determined based on the 20-day volume-weighted average price for common shares of the Company in accordance with the terms of the Series B Warrant Certificate.  Pursuant to the terms of the Series B Warrant Certificate, all of the Series B Warrants are subject to a maximum exercise price of $18.75, and 1,570,513 of the Series B Warrants, which were issued pursuant to the exercise of top-up rights previously granted to ACT, are subject to a minimum exercise price of $4.7732.

Following the exercise of the Series B Warrants, ACT’s ownership of common shares of Fire & Flower will increase by approximately 14.49% to approximately 35.32%.

Timing of Announcement of Q4 and Fiscal Year 2021 Financial Results

The Company will release its financial and operational results for the quarter and fiscal year ended January 29, 2022 before financial markets open on April 26, 2022.

Fire & Flower’s fourth quarter and fiscal year 2021 financial and operational results will be available on SEDAR and on the Company’s website at https://investors.fireandflower.com/.

Following the release of its fourth quarter and fiscal year 2021 financial and operational results, Fire & Flower will host a conference call with Trevor Fencott, President and Chief Executive Officer, and Judy Adam, Chief Financial Officer at 8:30 AM Eastern Time on April 26, 2022. The conference call will discuss Fire & Flower’s financial and operational results.

Dial-In Information

Toll-Free (Canada): 1-833-950-0062
Toll-Free (United States): 1-844-200-6205 
All other locations: +1 929 526 1599

Access code:  013467

Webcast Sign-Up 
https://event.on24.com/wcc/r/3755300/8C01528CC241A5D03166AC3EAE5D8F7D

Replay Information (Available until May 17, 2022)

Toll-Free (Canada): 1-226-828-7578
Toll-Free (United States): 1-866-813-9403
All other locations: +44 204 525 0658

Replay Code: 348644

Upon completion of the live conference call, a replay of the conference call will be accessible on Fire & Flower’s website at https://investors.fireandflower.com/.

LEAVE A REPLY

Please enter your comment!
Please enter your name here