Cannabis Retailer Fire & Flower To Review Strategic Options

Fire & Flower Holdings (TSX: FAF) quietly announced Friday evening that it undergoing a strategic review.

The Canadian cannabis retailer has reportedly engaged a financial advisors to assist it with reviewing “strategic options including financing options.” The engagement follows the firm revealing two weeks ago in regulatory filings that it requires additional financing, which it is actively pursuing, to fund its operations and to continue to operate.

As of March 31, Fire & Flower reportedly had a cash position of $8.2 million, compared to accounts payable and accrued liabilities of $18.0 million. Total current assets sat at $38.0 million, versus total currently liabilities of $50.8 million, including $2.4 million in debentures that are to be paid back in June, and a further $11.6 million that must be paid back in December.

Cash declined by $4.2 million in the most recent quarter.

Fire & Flower last traded at $0.85 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

Steadright Enters MOU To Acquire Historic Goundafa Polymetallic Mine In Morocco

Military Seizes Power in Madagascar After President Flees

Related News

Fire & Flower And Subsidiary Hifyre Looks To Acquire PotGuide For US$8.5 Million

Fire & Flower Holdings Corp. (TSX: FAF) and its wholly-owned subsidiary Hifyre Inc. announced today...

Thursday, August 26, 2021, 10:52:00 AM

Fire & Flower Posts $45.4 Million In Revenue, $2.0 Million Net Loss In Fiscal Q3 2021

Fire & Flower Holdings Corp. (TSX: FAF) released today its financial results for the fiscal...

Tuesday, December 14, 2021, 12:40:00 PM

Fire & Flower Files $200 Million Base Shelf Prospectus

Fire and Flower Holdings Corp (TSX: FAF) last night filed a preliminary base shelf prospectus...

Friday, November 20, 2020, 08:05:07 AM

Alimentation Couche-Tard to Invest Up To C$380 Million in Fire and Flower Holdings

Alimentation Couche-Tard (TSX: ATD.A ATD.B) and Fire and Flower Holdings Corp (TSXV: FAF) announced this...

Wednesday, July 24, 2019, 11:58:38 AM

Fire & Flower Submits Application For Nasdaq Listing

Fire & Flower Holdings (TSX: FAF) is the latest firm working towards a NASDAQ listing....

Tuesday, February 16, 2021, 07:10:51 AM