Fire & Flower reaches agreements with two lottery winners in Ontario

Fire & Flower Holdings Corp. reports that its subsidiary, Fire & Flower Inc., has entered into agreements with two of the initial 25 applicants that were successful as part of Ontario’s recent cannabis retail lottery.

 

 

The applicants had been selected by the Alcohol and Gaming Commission of Ontario (AGCO) to apply for cannabis retail operator licences in Ontario’s East Region, notes a press release from Fire & Flower, which adds that both have submitted their retail operator licence and retail store authorization applications.

“Following receipt of the agreements, the AGCO has advised the applicants that their applications will proceed to the eligibility phase of review, where they will be assessed for current and ongoing compliance with the Cannabis Licence Act, 2018 and its regulations,” explains a press release from Fire & Flower, which currently has provincial licences to operate seven retail cannabis and accessory stores in Alberta, two in Saskatchewan and a wholesale cannabis supply business in Saskatchewan.

 

 

Subject to AGCO approval, the agreements give Fire & Flower “licensing and consulting fees, as well as an option to purchase each of the applicant’s interest in the retail locations after the expiry of the lottery process,” the company reports, pointing out that development of the retail stores is under way to meet AGCO’s Apr. 1 timeline to open.

“These agreements represent another important step in Fire & Flower’s mission to introduce our elevated, education-based approach to adult-use cannabis retail to Ontarians,” comments company CEO Trevor Fencott.

 

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