by Jelena Martinovic
February 22, 2021 9:19 am
https://www.benzinga.com/markets/cannabis/21/02/19770239/fire-flower-expands-in-u-s-via-deal-with-american-acres
Fire & Flower Expands In U.S Via Deal With American Acres
Fire & Flower Holdings Corp. (TSX:FAF) (OTCQX:FFLWF) has partnered with American Acres Managers to expand across California, Arizona, and Nevada.
The move came on the heels of its recent debut on the Nasdaq Stock Market.
The Toronto-based company agreed to license its Fire & Flower brand, store operating system and Hifyre technology platform for dispensaries across these states. It will also have an option to purchase American Acres at a discount. The pending deal is expected to occur once the U.S. legalizes recreational cannabis on the federal level.
The company expects to cut the ribbon on its first branded store in Palm Springs, California, in the first half of fiscal 2021.
"Securing an agreement that will rapidly place Fire & Flower licensed stores in the United States is the first step in executing our vision well ahead of federal legalization in the United States," Fire & Flower CEO Trevor Fencott said Monday.
Fire & Flower shares closed Friday at $1.12 — up 3.48%.
Fire & Flower's Expansion Strategy
It seems that Fire & Flower is accelerating its expansion plans, taking into account its moves from the previous period.
During the third quarter, the company opted to purchase Satica Cannabis store in Toronto as well as NCannabis retail locations under the agreement with Busboy Ventures Inc, to name a few.
The moves resulted in generating around $33.1 million at a gross profit of 34.7% for the period, representing a year-over-year and sequential increase of 142% and 15.8%, respectively.
Recent FAF News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/21/2024 12:22:54 AM
- Form S-3ASR - Automatic shelf registration statement of securities of well-known seasoned issuers • Edgar (US Regulatory) • 09/19/2024 01:13:29 PM
- New York-Jersey City-White Plains Home Prices Up 3.2% Year Over Year in August, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 09/19/2024 01:00:00 PM
- Annual House Price Growth Nears Return to Historical Norms Nationally, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 09/19/2024 01:00:00 PM
- Houston-The Woodlands-Sugar Land Home Prices Up 2.9% Year Over Year in August, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 09/19/2024 01:00:00 PM
- Dallas-Plano-Irving Home Prices Up 2.3% Year Over Year in August, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 09/19/2024 01:00:00 PM
- Los Angeles Long Beach Glendale Home Prices Up 2.3% Year Over Year in August, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 09/19/2024 01:00:00 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 09/13/2024 09:09:13 PM
- First American Named One of the Best Workplaces in Financial Services & Insurance™ by Great Place to Work® and Fortune for Eighth Straight Year • Business Wire • 09/11/2024 03:30:00 PM
- First American Financial Corporation Increases Quarterly Cash Dividend to 54 Cents Per Share • Business Wire • 09/10/2024 09:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/10/2024 08:30:10 PM
- First American Financial Corporation Appoints Deborah L. Wahl to Board of Directors • Business Wire • 09/10/2024 08:30:00 PM
- First American Named by Fast Company as One of the Best Workplaces for Innovators for Second Consecutive Year • Business Wire • 09/10/2024 03:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/09/2024 10:45:09 AM
- First American Title Co-President Sally French Tyler Selected for 2024 HousingWire Vanguard Award • Business Wire • 09/03/2024 05:30:00 PM
- Form N-PX - Annual Report of proxy voting record of management investment companies • Edgar (US Regulatory) • 08/26/2024 08:37:20 PM
- Slowdown in National House Price Growth Seeps into Seventh Straight Month, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 08/20/2024 01:00:00 PM
- Los Angeles-Long Beach-Glendale Home Prices Up 3.2% Year Over Year in July, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 08/20/2024 01:00:00 PM
- Dallas-Plano-Irving Home Prices Up 2.0% Year Over Year in July, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 08/20/2024 01:00:00 PM
- New York-Jersey City-White Plains Home Prices Up 0.9% Year Over Year in July, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 08/20/2024 01:00:00 PM
- Houston-The Woodlands-Sugar Land Home Prices Up 3.3% Year Over Year in July, According to First American Data & Analytics Monthly Home Price Index Report • Business Wire • 08/20/2024 01:00:00 PM
- First American Title Vice President Justin Lischak Earley Named 2024 HousingWire Insiders Award Winner • Business Wire • 08/01/2024 05:30:00 PM
- ServiceMac® Earns 2024 USDA Top Servicers Award • Business Wire • 08/01/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/24/2024 08:15:09 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM