A city slick with black ice will soon have some heat added to its streets.
Fire & Flower Holdings Corp. (TSX: FAF) announced Tuesday it received three new licenses from the Alberta Gaming Liquor and Cannabis Commission to open three new stores in Edmonton, Alberta.
The company’s wholly-owned subsidiary, Fire & Flower Inc., owns or has interest in 36 cannabis retail store licenses across Alberta, Saskatchewan, Manitoba, Ontario and the Yukon Territory. The company said in a statement it plans on having a total of 45 locations before the end of its fiscal year on Feb. 1, 2020.
“These three additional stores in the Edmonton market continues to build on our strong position in this key urban market where our company is headquartered,” CEO Trevor Fencott said.
This brings Fire & Flower up to 25 retail locations in Alberta alone, making up just over seven per cent of the province’s 341 cannabis retail locations.
The three new locations will be open and selling pot in time for the holidays, as the company plans on having the locations ready to roll by the week of Dec. 16, 2019.
That’s the same week cannabis retailers will be allowed to sell second wave cannabis legalization products, such as edibles, concentrates and tinctures. On the Fire & Flower website, the company says it expects to have these products available by the new year.
However, investors didn’t seem overly impressed with the new announced locations, as stocks slumped 5.4 per cent to $0.90 a share.
Look out for the three new Edmonton locations opening at:
- 4357 – 50 Street NW
- 3727 – 99 Street NW
- 5844 Terrace Road NW