Canadian Cannabis Group Fire & Flower Enters U.S. Cannabis Market with American Acres
TORONTO – Canadian cannabis retailer Fire & Flower Holdings is launching into the United States, with licensing partner, American Acres Managers, a private firm with a focus on cannabis retail in Arizona, California and Nevada. Fire & Flower will license its store brand to American Acres along with its store operating system and its Hifyre digital platform “on a royalty-free basis.”
“The strategic agreements provide Fire & Flower with a path to corporately-owned cannabis retail stores in the United States,” according Fire & Flower’s news release. The agreement also includes an acquisition option permitting allow Fire & Flower to acquire American Acres “at a discount to fair market value.”
According to Fire & Flower’s release (link above), “the acquisition is expected to occur upon the federal legalization of adult-use cannabis in the United States or when otherwise permitted by the policies of the Toronto Stock Exchange or any other stock exchange on which the company’s securities are listed for trading.”
Fire & Flower said the company’s first branded store in the U.S. would open in Palm Springs during the first half of its fiscal 2021 year.
According to MJ Biz Daily, Fire & Flower recently announced plans to list on the Nasdaq exchange, saying that a U.S. stock listing would help attract investors for its planned international expansion.
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