Fire & Flower Achieves Milestone of 45 Cannabis Retail Stores Ahead of Projections

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EDMONTON, Jan. 13, 2020 /CNW/ - Fire & Flower Holdings Corp. ("FFHC") (TSX: FAF) and its wholly-owned subsidiary Fire & Flower Inc. (collectively with FFHC, "Fire & Flower" or the "Company"), today announced that it has achieved the milestone of 45 open and operating cannabis retail stores.

Fire & Flower has previously stated that the Company anticpated achieving the milestone of 45 retail cannabis stores by the end of its fiscal year, being February 1, 2020. The Company has achieved this milestone several weeks in advance of its previously stated goal and today has 46 open and operating stores across its retail network.

The new stores included in the Company's milestone achievement are located at the following addresses:

• 1108 4th street SW, Calgary, Alberta
• 6004 Country Hills Blvd NE, Calgary, Alberta
• 212, 11245 Valley Ridge Drive NW, Calgary, Alberta
• 350, 590 Baseline Road, Sherwood Park, Alberta
• 19-99 Wye Road, Sherwood Park, Alberta
• 1276 3 Avenue South, Lethbridge, Alberta
• 10 Westwind Drive, Spruce Grove, Alberta
• 40 Hewlett Park Landing, Sylvan Lake, Alberta
• 4331-52 Avenue, Whitecourt, Alberta

"Fire & Flower is committed to delivering on the targets that we have provided to our shareholders and reaching 45 cannabis retail stores several weeks in advance of when we had anticipated to reach this target is a clear demonstration of our discipline in achieving our goals," shared Trevor Fencott, Fire & Flower's Chief Executive Officer. "Achieving this aggressive goal is a testament to our deep retail experience and strong management team. As the cannabis industry continues to face headwinds, Fire & Flower is well positioned to continue to achieve growth and demonstrate leadership in the category."

The operating hours of these new stores are available on Fire & Flower's website at www.fireandflower.com/locations/.

The Company continues to focus on opening new retail stores across Alberta, where the AGLC continues to issue retail licences, and in the province of Ontario where open licensing has commenced. Fire & Flower is also closely monitoring regulatory environments and taking proactive steps in provinces across Canada to ensure early market entry when private retail opportunities emerge.

About Fire & Flower
Fire & Flower is a leading purpose-built, independent adult-use cannabis retailer poised to capture significant Canadian market share. The Company guides consumers through the complex world of cannabis through education-focused, best-in-class retailing while the Hifyre digital platform connects consumers with cannabis products. The Company's leadership team combines extensive experience in the cannabis industry with strong capabilities in retail operations.

Fire & Flower Holdings Corp. owns all issued and outstanding shares in Fire & Flower Inc., a licensed cannabis retailer that owns or has interest in cannabis retail store licences in the provinces of Alberta, Saskatchewan, Manitoba and Ontario and the Yukon territory.

Through its strategic investment with Alimentation Couche-Tard Inc. (ATD.A, ATD.B), the Company has set its sights on the global expansion as new cannabis markets emerge.

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 statements are based on the opinions and estimates of management of FFHC at the date the statements are made based on information then available to the Company.  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 risks and uncertainties, many of which are beyond the control of FFHC, which may cause FFHC's actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct.

FFHC assumes no obligation to publicly update or revise forward-looking statements to reflect new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Fire & Flower Holdings Corp.