EDMONTON — Fire & Flower Holdings Inc. has unveiled the first examples of its new cannabis retail partnership with the owner of Circle K convenience stores and gasoline bars.
The Edmonton-based cannabis company says it expects to benefit from high-traffic Circle K locations while complying with all applicable regulations.
Its partner is Quebec-based Alimentation Couche-Tard Inc., which acquired 9.9 per cent of Fire & Flower’s equity in July 2019 with options to increase its stake to 50.1 per cent.
Alimentation Couche-Tard operates internationally and in most of Canada under the Circle K banner but still does business in its home province as Couche-Tard.
In addition to being licensed to sell cannabis in several provinces, Fire & Flower has developed a digital retail platform for its business.
Chief executive Trevor Fencott says Fire & Flower’s technology and co-location strategy position it to capitalize on domestic and international opportunities.
Fire & Flower shares closed at 76 cents per share in Monday trading, up nearly six per cent from Friday’s close, but down about 50 per cent since the Couche-Tard investment last July.
This report by The Canadian Press was first published July 6 2020.
Companies in this story: (TSX:FAF TSX:ATD.A TSX:ATD.B)
The Canadian Press