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Fire & Flower makes further inroads in Toronto with three pot shop pickups

Fire & Flower makes further inroads in Toronto with three pot shop pickupsCanadian cannabis retailer Fire & Flower Holdings took a broader step in securing its presence in Canada's biggest city by announcing it acquired three Toronto-based pot shops on Thursday. Fire & Flower said it will pay $750,000 plus about 2.2 million shares for the Satica Cannabis outlet in downtown Toronto, while it will acquire two NCannabis stores for $700,000 and 2.2 million shares. The acquisitions are subject to approval from provincial regulators and they’re expected to close in early November. The deal would give Fire & Flower seven stores in Ontario, including five in the Greater Toronto Area. Stifel analyst Justin Keywood said in a report that the cannabis retail sector is expected to see further consolidation as players look to gain market share. The retailer's shares edged higher by about 1.2 per cent on Thursday.  Virus-free.

Written by : Tony Salvin

Canadian Marijuana Index

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