Hearth & Flower and Hifyre Full Acquisitions of PotGuide and Wikileaf
Completion of acquisitions continues Hearth & Flower’s execution of expanded digital technique to develop digital on-line dispensaries
TORONTO, Sept. 15, 2021 /CNW/ – Fire & Flower Holdings Corp. (“Hearth & Flower” or the “Firm”) (TSX: FAF) (OTCQX: FFLWF) and its wholly-owned subsidiary Hifyre™ Inc. (“Hifyre”), at present introduced the closings of its beforehand introduced acquisitions of all issued and excellent shares of PGED Corp., (“PotGuide”), one of many world’s largest hashish web sites and content material platforms, and sure digital belongings of Wikileaf Applied sciences, (“Wikileaf”), a web based platform for hashish fanatics and customers.
As Hifyre focuses on increasing its digital presence and the Firm’s e-commerce income channels, the additions of PotGuide and Wikileaf are anticipated to boost Hifyre’s asset-light strategy and supply a scalable entry level to seize new clients and Spark Perks™ members in each Canada and the U.S. As two of essentially the most visited web sites and content material platforms serving the hashish business in North America, Hifyre intends to leverage the numerous person visitors generated by these websites to transform digital guests into hashish and accent purchases fulfilled by Hearth & Flower’s retail community. Moreover, the acquisitions are anticipated to supply Hifyre with a U.S. base for expertise and operations.
Since day one, we’ve been centered on turning into essentially the most technology-forward retailer serving the hashish area by leveraging our huge retail experience alongside our highly effective Hifyre information and analytics platform.
Trevor Fencott, Chief Government Officer of Hearth & Flower
By way of our expanded digital technique and strategic acquisitions, we’re constructing an asset-light enterprise mannequin that, in live performance with our current bodily retail community, is predicted to ship high-margin alternatives, recurring income and additional engrain buyer loyalty with Hearth & Flower.
With an current base of subscribers totaling roughly 225,000, PotGuide and Wikileaf subscribers can be invited to enroll in Hearth & Flower’s Spark Perks™ member program to unlock distinctive client advantages and reductions. The Spark Perks™ program, which already boasts over 310,000 subscribers permits Hifyre to develop individualized buyer profiles that may ship customized product suggestions in addition to rewards and reductions on future purchases. This system additionally helps the Hifyre IQ information evaluation platform construct a real-time understanding of hashish client preferences and buying tendencies throughout North America to the advantage of Hearth & Flower and its strategic companions.
Complete consideration for the acquisition of PotGuide is roughly US$8.5 million, payable by means of US$4.0 million money consideration and 5,978,050 widespread shares of Hearth & Flower (“Widespread Shares”) primarily based upon the Firm’s 10-day quantity weighted common worth as of August 25, 2021, the date of the definitive settlement associated to the PotGuide acquisition.
Complete consideration for the acquisition of Wikileaf is $7.5 million, payable by means of 8,017,103 Widespread Shares primarily based upon the Firm’s 10-day quantity weighted common worth as of August 3, 2021, the date of the definitive settlement associated to the Wikileaf acquisition
About Hearth & Flower
Hearth & Flower is a number one, technology-powered, adult-use hashish retailer with greater than 90 corporate-owned shops in its community. The Firm leverages its wholly-owned expertise improvement subsidiary, Hifyre, to repeatedly advance its proprietary retail operations mannequin whereas additionally offering extra impartial high-margin income streams. Hearth & Flower guides customers by way of the advanced world of hashish by way of education-focused, best-in-class retailing whereas the Hifyre digital retail and analytics platform empowers retailers to optimize their connections with customers. The Firm’s management crew combines in depth expertise within the expertise, hashish and retail industries.
By way of the strategic funding of Alimentation Couche-Tard Inc. (proprietor of Circle Okay comfort shops), the Firm has set its sights on world growth as new hashish markets emerge and is poised to develop into the USA when permitted by way of its strategic licensing settlement with Hearth & Flower U.S. Holdings upon the prevalence of sure modifications to the hashish regulatory regime.
Hearth & Flower is a multi-banner hashish retail operator that owns and operates the Hearth & Flower, Pleasant Stranger, Joyful Dayz and Hotbox manufacturers. Hearth & Flower Holdings Corp. owns all issued and excellent shares in Hearth & Flower Inc. and Pleasant Stranger Holdings Corp., licensed hashish retailers that personal and function hashish retail shops within the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and the Yukon territory.
To study extra about Hearth & Flower, go to www.fireandflower.com.
The Hifyre Digital Retail and Analytics Platform is a proprietary ecosystem of merchandise that features the Spark Perks member program, Hifyre ONE retail software program platform and the Hifyre IQ hashish information and analytics platform.
The Hifyre platform additionally helps Hearth & Flower’s superior operations and supplies a aggressive benefit in offering a tailor-made digital expertise and understanding client behaviours within the evolving hashish market.
To study extra about Hifyre, go to www.hifyre.com.
For fact-based data on Hearth & Flower, view the corporate’s sponsored Investor Dashboard.
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