Benzinga | Jul 23, 2020 06:59AM EDT

Fire & Flower Holdings Reports Receives Approval In Principle For 2 Cannabis Retail Locations In Vancouver, British Columbia

Fire & Flower Holdings Corp. and its wholly-owned subsidiary Fire & Flower Inc. (collectively, "FFHC", "Fire & Flower" or the "Company") (TSX:FAF) (OTCQX:FFLWF), today that it has received the Approval in Principle ("AIP") from the Liquor and Cannabis Regulation Branch (the "LCRB") of the province of British Columbia for two cannabis retail stores located in Vancouver, British Columbia.

Receiving the AIP is one of the final steps required for licensing cannabis retail stores in the province of British Columbia, and the receipt of the AIPs presents a clearer path for the Company's entry into this new market.

The AIPs come upon the LCRB completing its eligibility and suitability assessment of Fire & Flower and the Company was found to be "fit and proper" for the purposes of receiving final licenses upon satisfactory inspection of the finished stores in accordance with the AIPs.

"Fire & Flower is very pleased to be entering the province of British Columbia in the key urban market of Vancouver. We have been poised to launch stores in the province for some time as part of our national growth strategy," shared Trevor Fencott, Chief Executive Officer of Fire & Flower. "It is encouraging to see the province of British Columbia move forward with additional cannabis retail licenses. The issuance of additional licenses is a key step in the eradication of the illicit cannabis market and licensing in the province is an important step in the growth of the legal cannabis industry."

Once opened, the Vancouver Fire & Flower stores will be located at:

* 2231 Granville Street, Vancouver, British Columbia, and

* 2570 Granville Street, Vancouver, British Columbia.

Opening dates and times of the Vancouver Fire & Flower stores will be announced on the Company's website at www.fireandflower.com/locations/and through social media at the earliest opportunity.

The Company continues to pursue additional licensing opportunities and currently has secured real estate in key markets within the province of British Columbia.