Fire & Flower to acquire cannabis store license in Regina
July 22, 2019 By Grow Opportunity staff
Cannabis retailer Fire & Flower Holdings Corp. is one step closer to opening its first store in Regina, Sask.
Fire & Flower, which has 27 store locations across Canada, announced July 22 that it has acquired the company formerly known as Avana Canada Inc. from Mera Cannabis Corp. The acquisition was priced at $1.5 million and comes with all licenses and permits required to operate a cannabis retail store in Canada.
The acquired company formerly known as Avana was selected by the Saskatchewan Liqour and Gaming Authority (SLGA) in its provincial lottery last year to open a cannabis retail store in Regina. Fire & Flower is now hoping to take part in designing and building the store.
“The acquisition of the Regina cannabis retail store licence signifies Fire & Flower’s entry into a major urban market in Saskatchewan and strengthens our position within the province,” said Fire & Flower CEO Trevor Fencott in a statement. “We look forward to continuing to build our footprint in communities within the province of Saskatchewan.”
The acquisition also included an exclusive supply agreement to distribute Mera Cannabis products for re-sale at its retail locations in provinces where it is permitted. The distribution will be handled through Fire & Flower affiliate, Open Fields Distribution.
“Our agreement with Open Fields Distribution adds significant bench strength to our adult-use distribution strategy with key retailers in Canada,” said Zubin Jasavala, Mera CEO.
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