/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES/

TORONTO, Aug. 12, 2022 /CNW/ - Fire & Flower Holdings Corp. ("FFHC", "Fire & Flower" or the "Company") (TSX: FAF) (OTCQX: FFLWF) announces that Guillaume Léger has tendered his resignation from the board of directors of the Company (the "Board") effective August 11, 2022. Mr. Léger was elected to the Board of the Company at its annual general and special meeting of shareholders held on July 25, 2022, pursuant to the terms of an investor rights agreement between the Company and ACT dated August 7, 2019 (the "IRA").

Pursuant to the terms of the IRA, ACT has designated Suzanne Poirier as its nominee to the Board to replace Guillaume Léger. The Board intends to appoint Ms. Poirier to the Board effective August 11, 2022 to fill the vacancy created by the resignation of Mr. Léger.

"On behalf of the Board of Directors, I welcome Suzanne to the Board as Fire & Flower and Alimentation Couche-Tard continue their strategic partnership," said Donald Wright, chair of the Board. 

Ms. Poirier is Senior Vice President of Operations for ACT and is based in Montreal, Quebec. She joined ACT in 2018 as Vice President and Controller and since held various roles with progressively increasing responsibilities including Global Finance and Supply Chain Optimization and VP of North America Operations Excellence. Prior to ACT, she held the position of Vice President Financial Planning, at the Canadian National Railway, and Senior Vice President Finance & Strategic Planning at Sobeys. She also held various controller positions with Canadian National Railway Company from 2010 to 2015 and with Imperial Tobacco Canada Limited from 2000 to 2010. Ms. Poirier brings considerable knowledge in publicly held companies. She has over 30 years of experience within a broad set of roles in financial management, supply chain and operations. Ms. Poirier earned a Graduate Diploma in Accountancy and a Bachelor of Commerce degree in Accountancy, with Distinction from Concordia University and is a Canadian CPA. She was also Audit Committee Chair of GURU Organic Energy Corp. from 2020 to 2022.

Fire & Flower is a leading, technology-powered, adult-use cannabis retailer with more than 90 corporate-owned stores in its network. The Company leverages its wholly-owned technology development subsidiary, Hifyre Inc., to continually advance its proprietary retail operations model while also providing additional independent high-margin revenue streams. Fire & Flower guides consumers through the complex world of cannabis through education-focused, best-in-class retailing while the Hifyre digital retail and analytics platform empowers retailers to optimize their connections with consumers. The Company's leadership team combines extensive experience in the technology, logistics, cannabis and retail industries.

Through the strategic investment of Alimentation Couche-Tard Inc. (owner of Circle K convenience stores), the Company has set its sights on global expansion as new cannabis markets emerge and is poised to expand into the United States when permitted through its strategic licensing agreement with Fire & Flower U.S. Holdings upon the occurrence of certain changes to the cannabis regulatory regime.

Fire & Flower is a multi-banner cannabis retail operator that owns and operates the Fire & Flower, Friendly Stranger, Happy Dayz and Hotbox brands. Fire & Flower Holdings Corp. 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 British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and the Yukon territory.

To learn more about Fire & Flower, visit https://www.fireandflower.com.

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.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2022/12/c2128.html