Fire & Flower and Hifyre acquire Pineapple Express Delivery (CNW Group/Fire & Flower Holdings Corp.)

TORONTOJan. 25, 2022 /CNW/ – Fire & Flower Holdings Corp. (“Fire & Flower” or the “Company“) (TSX: FAF) (OTCQX: FFLWF), a leading, technology-powered, cannabis retailer, today announced the Company has completed the acquisition of Pineapple Express Delivery Inc. (“Pineapple Express Delivery” or “PED“), a leading logistics technology company offering compliant and secure delivery services for controlled substances and regulated products, including transportation and delivery of medical and recreational products in OntarioManitoba and Saskatchewan, and liquor products in Saskatchewan. The acquisition of Pineapple Express Delivery provides Fire & Flower with the final component to execute upon its strategy of offering a full consumer technology platform to the cannabis industry.

PED is widely recognized throughout the cannabis industry as the largest player in the cannabis delivery space, completing more than 40,000 deliveries per month to recreational and medical cannabis customers across Canada. Through this strategic acquisition, Fire & Flower has completed its proprietary technology stack to deliver a seamless customer experience by combining its technology-driven retail network of over 100 stores across North America with this newly acquired, best-in-class cannabis fulfillment and delivery service.

Trevor Fencott, Chief Executive Officer of Fire & Flower, stated, “The acquisition of Pineapple Express Delivery marks the final step in building, what we believe to be, the cannabis industry’s first end-to-end consumer technology experience. With a full omni-channel retail strategy, a data-driven analytics platform, and now same-day, last-mile delivery capabilities, we’ve developed an asset-light technology stack that can support the entire cannabis retail ecosystem, from initial customer acquisition, through product discovery, ultimately ending at the customers’ front door.”

“Our Hifyre™ technology powered retail network has quickly driven greater high-margin revenue streams for Fire & Flower and the inclusion of Canada’s largest cannabis delivery and logistics services strategically supports our business model as we enter new markets utilizing our high-margin, scalable technology infrastructure. We look forward to rolling out our enhanced cannabis technology platform throughout Canada and eventually the U.S. with our strategic partner, Alimentation Couche-Tard, to demonstrate the unparalleled value of this model,” concluded Fencott.

“It is exciting to see the completion of this acquisition and entering the next phase of the Pineapple Express Delivery story. By joining Hifyre and Fire & Flower, PED will continue to build one of the largest cannabis delivery platforms in Canada and the U.S.,” shared Randy Rolph, Founder of PED. “Pineapple Express Delivery will complement the Fire & Flower business model and Hifyre will continue to add meaningful value to the business through its industry-leading technology platform and analytics. We believe this is a winning combination as our companies share an unwavering focus on supporting and empowering businesses, consumers and our communities. Together we will continue to grow and innovate, and this acquisition of Pineapple Express Delivery is a natural and timely fit given our broader expansion strategy.”

As consideration for the purchase of Pineapple Express Delivery, Fire & Flower has assumed and repaid approximately $5.15 million in debt owed by Pineapple Express Delivery and issued a total of 1,153,142 common shares of Fire & Flower (“Common Shares“), of which a total of 313,708 have been released and the remainder have been placed into escrow pending completion of customary working capital adjustments and subject to achievement of certain performance-based milestones in the fiscal 2022 year. Haywood Securities Inc. acted as exclusive financial advisor to Pineapple Express Delivery.

To learn more about Pineapple Express Delivery, visit

SOURCE Fire & Flower Holdings Corp.

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