Fire & Flower Holdings Corp FFLWF

FAF CLOSES THE PURCHASE OF WIKILEASF DIGITAL ASSETS

[Humanist]

Wikileaf Technologies Completes Sale of Digital Assets to Hifyre™ and Fire & Flower
 
by @nasdaq on 15 Sep 2021, 17:55
    
SEATTLE, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Wikileaf Technologies Inc. (“Wikileaf” or the “Company”) (CSE: WIKI) is pleased to announce the closing of its previously announced sale of all of Wikileaf’s digital assets (the “Assets”) including the website domain, www.wikileaf.com to Fire & Flower Holdings Corp. (“Fire & Flower”) (TSX: FAF) (OTCQX: FFLWF) and Hifyre Inc. (“Hifyre”) for consideration of ‎$7.5 million, satisfied by the issuance of 8,017,103 common shares of Fire & Flower (“Share Consideration”) based upon the Fire & Flower’s 10-day volume ‎weighted average price as of August 3, 2021, the date of the definitive agreement.

“We are pleased to announce the closing of Wikileaf’s digital assets to industry leader Fire & Flower and HiFyre in exchange for equity in Fire & Flower. Technology has been an underrepresented area of the cannabis industry to date. Fire & Flower’s growing retail presence alongside the HiFyre technology stack will provide Wikileaf’s digital assets with the resources and expertise it needs to reach the platform’s full potential while avoiding the need to raise additional capital and in turn dilution to the Company’s shareholders” said Connor Cruise, Chairman and Interim Chief Executive Officer of Wikileaf. With the closing of the sale of the Assets, the Company announces that it intends to change its name to from Wikileaf Technologies Inc. to “Cashbox Ventures” and exit the United States cannabis sector.
About Wikileaf Technologies Inc.