Fire & Flower closes private placement financing

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By Ted Liu

CPE Media News (pcJournal)(6/14/2018) – Fire & Flower Inc., a corporate retail cannabis store, has closed a private placement round of financing.

Fire & Flower raised $[mepr-active rule=”374″ ifallowed=”hide”]#Premium Subscribers ONLY Content – Research and Intelligence – know others do not know, be informed.#[/mepr-active][mepr-active rule=”374″]18.91 million in two closings on April 20 and June 6, through the issuance of units priced at $0.80 per unit, with each unit consisting of one common share and one warrant entitling the holder to acquire one common share at $1.05 in two years following the closing. 83 Ontario purchasers led the financing with $13.3 million. 34 Alberta investors invested $4.3 million. Investors from BC (2), Quebec (2), USA (2 for $81,000) and Australia (1 for $1 million) participated in the financing.[/mepr-active]

Echelon Wealth Partners Inc., Cormark Securites Inc. and AltaCorp Capital Inc. acted as placement agents. Goodmans LLP serves as Fire & Flower’s legal counsel.

Founded in 2017, Fire & Flower is led by CEO Trevor Fencott, COO Mike Vioncek, CFO Fraser Sinclair, and VP of Business and Legal Affairs Matthew Anderson. Fire & Flower three-member board consists of Fencott, Harvey Shapiro (Chair) and Norm Inkster.

photo credit: Fire & Flower