Fire & Flower Indicates Couche-Tard To Increase Ownership Stake To 35%

Fire & Flower (TSX: FAF) is set to see Alimentation Couche-Tard increase its stake in the company. It was indicated this morning that the convenience retailer would be increasing its ownership to slightly over one-third of the firms equity.

The expansion in the ownership of Fire & Flower by Couche-Tard is set to occur via the exercising of 8.3 million Series B Warrants under the revised arrangement entered into between the two firms in January. The price to be paid will be based on the 20 day volume weighted average price of the equity at the time of closing, with 1.6 million of the warrants subject to a minimum exercise price of $4.77 per share.

Following the closing of the warrant exercises, Couche-Tard’s ownership will climb from 14.49% to 35.32%. The company had previously owned as much as a 22.35% stake in the company before being diluted in recent months. The firm originally took a stake in the cannabis retailer in mid 2019, amid the height of cannabis-sector hype.

The warrants are set to be exercised two days following the announcement of Fire and Flower’s 2021 financial results. Results are currently scheduled to be released on April 26.

Fire and Flower last traded at $4.44 on the TSX.


Information for this briefing was found via Sedar and Fire and Flower Holdings. 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

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Fire & Flower Repays $2.3 Million Outstanding Debt, Retires $10 Million Debt Facilities

Fire & Flower Holdings Corp. (TSX: FAF) seems to be cleaning up its balance sheet....

Monday, October 25, 2021, 09:47:00 AM

Fire & Flower Q2 Revenues Climb To $28.6 Million, Net Loss To $29.1 Million

Fire and Flower Holdings (TSX: FAF) this morning released its second quarter financial statements, reporting...

Tuesday, September 15, 2020, 08:20:11 AM

Fire & Flower Sees Alimentation Couche-Tard Increase Stake To 22.35%

Fire & Flower Holdings Corp. (TSX: FAF) announced today that Circle K owner Alimentation Couche-Tard...

Wednesday, June 23, 2021, 09:50:00 AM

Fire & Flower To Be Removed From The TSX

Fire & Flower Holdings (TSX: FAF) has confirmed that the Toronto Stock Exchange will be...

Friday, June 16, 2023, 08:50:47 AM

Canaccord Raises Price Target On Alimentation Couche-Tard After Mixed Quarter

Last week, Alimentation Couche-Tard Inc. (TSX: ATD.B) reported its fiscal first quarter financial results. The...

Monday, September 6, 2021, 02:23:00 PM