/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES/

EDMONTON, May 6, 2019 /CNW/ - Fire & Flower Holdings Corp. ("Fire & Flower" or the "Company") (TSXV: FAF), today announced that the Company is the first independent Canadian cannabis retailer to have received institutional equity research analyst coverage.

AltaCorp Capital Inc. ("AltaCorp") institutional equity research sets a rating of "Speculative Buy" with a 12-month price target of C$2.50 per share. Highlights from AltaCorp's institutional equity research include:

• Sophisticated Data & Analytics Platform – Through Fire & Flower's proprietary digital platform, Hifyre, the Company is well positioned to provide a deep understanding of personalized consumer behaviours and trends. Intellectual property developed in the Hifyre platform will also provide an entry point for Fire & Flower into the US market, however, this opportunity is not yet included in AltaCorp's model.
  
  
• Consumer Product Knowledge Gaps – Fire & Flower's experiential retail strategy addresses the compound issues of supply shortages and limited consumer product understanding through an educational retail experience that helps consumers select products that will fit with their desired experiences.
  
  
• Retail Brand Driving Customer Loyalty – Restricted regulations around packaging, labelling, branding and promotion will impede Licensed Producers' ability to market directly to consumers. Through Fire & Flower's extensive direct-to-consumer marketing platform, the Company is well positioned to be the trusted link between cannabis products and consumers.

"We are thrilled to be the first independent cannabis retail company in Canada to have received equity analyst research coverage. AltaCorp's analysis supports our aggressive growth-oriented corporate strategy," shared Trevor Fencott, Fire & Flower's Chief Executive Officer. "In particular, we are very pleased to see AltaCorp recognize the Hifyre digital platform as a key driver of value for our Company. The Hifyre digital platform is something that distinguishes Fire & Flower within the retail cannabis market and provides valuable intellectual property which provides a platform for our entry into the United States and other global markets."

"Utilizing data and analytics to better understand consumer trends and behaviours is a key differentiator for Fire & Flower and establishes the Company as the leading retailer in Canada," shared David Kideckel, Analyst, Managing Director of AltaCorp Capital Inc. "We are initiating coverage as a Speculative Buy rating and a 12-month price target of C$2.50 per share. AltaCorp will continue to monitor Fire & Flower's aggressive growth plan and we look forward to providing future analysis on the Company."

About Fire & Flower
Fire & Flower is a leading purpose-built, independent adult-use cannabis retailer poised to capture significant Canadian market share. The Company guides consumers through the complex world of cannabis through education-focused, best-in-class retailing that is centered around its proprietary HiFyre digital platform. The Company's leadership team combines extensive experience in the cannabis industry with strong capabilities in retail operations.

Fire & Flower Holdings Corp. owns all issued and outstanding shares in Fire & Flower Inc., a licenced cannabis retailer in the provinces of Alberta and Saskatchewan and is a consultant and licensor to Fire & Flower-branded retail locations in province of Ontario.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "project" and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking statements in this news release include, but are not limited to, statements regarding the proposed transaction and the completion thereof, the receipt of regulatory approvals (including the approvals of the SLGA and the TSX Venture Exchange) and Fire & Flower's current and proposed operations in Saskatchewan and elsewhere in Canada.

Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company.  Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements.  Forward-looking statements are subject to and involve a number of known and unknown risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company's actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct.

The Company assumes no obligation to publicly update or revise forward-looking statements to reflect new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Fire & Flower Holdings Corp.

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