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MMJ Group investment Fire & Flower Holdings Corp reaches retail milestone ahead of schedule

The milestone includes nine new stores located in the Canadian province of Alberta.

MMJ Group Holdings Ltd - MMJ Group Holdings investee Fire & Flower Holdings Corp reaches retail milestone ahead of schedule
MMJ holds Fire & Flower Holdings Corp shares and warrants valued at $900,000

MMJ Group Holdings Ltd (ASX:MMJ) Canadian investment Fire & Flower Holdings Corp (TSE:FAF) has reached the milestone of 45 open and operating cannabis retail stores ahead of schedule.

Fire & Flower previously anticipated achieving the milestone by the end of its fiscal year - February 1, 2020 - and has today opened its 46th store.

Among the list of new stores, nine stores located in Alberta, Canada, are included in the milestone.

The company is a leading cannabis retail store headquartered in Edmonton, Canada, that sells cannabis-based drugs, oil and accessories.

“Demonstration of our discipline in achieving goals”

Chief executive officer Trevor Fencott said, “Fire & Flower is committed to delivering on the targets we have provided to our shareholders and reaching 45 cannabis retail stores several weeks in advance of when we had anticipated is a clear demonstration of our discipline in achieving our goals.

“Achieving this aggressive goal is a testament to our deep retail experience and strong management team.

“As the cannabis industry continues to face headwinds, Fire & Flower is well-positioned to continue to achieve growth and demonstrate leadership in the category.”

Focused on additional stores

The company continues to focus on opening new retail stores across Alberta, where the Alberta Gaming, Liquor and Cannabis (AGLC) government agency continues to issue retail licences and in Ontario where open licensing has begun.

Fire & Flower is also closely monitoring regulatory environments and taking proactive steps in provinces across Canada to ensure early market entry when private retail opportunities emerge.

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Price: 0.098 AUD

Market: ASX
Market Cap: $22.54 m

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