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Fire & Flower Seeks To List On Nasdaq

Canadian cannabis retailer Fire & Flower Holdings said it has submitted an initial application to list its common shares on the Nasdaq Stock Market as part of its growth strategy that is focused on expanding its brand to markets outside of Canada.

The company will continue to be listed on the Toronto Stock Exchange under the symbol "FAF".

Fire & Flower expects the Nasdaq listing will enable it to attract retail and institutional investors interested in its international growth ambitions and also provide it with increased access to strategic partners, deal-flow and value creation opportunities.

Fire & Flower owns and operates the Fire & Flower, Friendly Stranger, Happy Dayz and Hotbox brands.

The company also owns all issued and outstanding shares in Fire & Flower Inc. and Friendly Stranger Holdings Corp., licensed cannabis retailers that own and operate cannabis retail stores in the provinces of Alberta, Saskatchewan, Manitoba and Ontario, and the Yukon territory.

Canada-based convenience store operator Alimentation Couche-Tard is an investor in Fire & Flower.

Fire & Flower said in December that it closed the acquisition of cannabis retail store operator Friendly Stranger Holdings. Following the acquisition, the company owns and operates 69 stores under four distinct retail banners, including 21 licensed stores in Ontario and an additional 9 stores in Ontario admitted to the queue for licensing.

Friendly Stranger holds licenses to operate 13 cannabis retail stores operating in the province of Ontario under the "Friendly Stranger", "Hotbox" and "Happy Dayz" brands, including four in the key urban market of Toronto. The stores continue to operate under the Friendly Stranger, HotBox and Happy Dayz brands.

In August 2020, Fire & Flower launched Revity CBD, a wellness-focused CBD product private label brand. The company said it intends to focus on this market due to its favorable supply chain that allows for private wholesale distribution through its wholly-owned distribution business, Open Fields Distribution.

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