Edmonton AB-based cannabis retailer
Fire & Flower Holdings Corp. (FAF) (
TSX:FAF) took a wider step in securing its presence in Toronto by
announcing it acquired three cannabis shops on Thursday.
Fire & Flower will reportedly pay $750,000 plus about 2.2 million shares for the Satica Cannabis outlet in downtown Toronto, while it will acquire two NCannabis stores for $700,000 and 2.2 million shares. The acquisitions are subject to approval from provincial regulators and are expected to close in early November.
The deal would give FAF seven stores in Ontario, including five in the Greater Toronto Area. The retailer's shares edged higher by about 1.22% on Thursday.
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