Fire & Flower Sale and Investment Solicitation Process – New Cannabis Ventures

FTI Consulting Canada Inc., in its capacity as court-appointed monitor (in such capacity, the “Monitor”) of Fire & Flower Holdings Corp., Fire & Flower Inc., 13318184 Canada Inc., 11180703 Canada Inc., 10926671 Canada Ltd., Friendly Stranger Holdings Corp., Pineapple Express Delivery Inc. and Hifyre Inc. (collectively, “Fire & Flower”) in the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA”) proceedings, is conducting a sale and investment solicitation process (the “SISP”) with its affiliate, FTI Capital Advisors – Canada ULC (“FTICA”), and with the assistance of Fire & Flower, to solicit interest in, and opportunities for, a sale, restructuring, refinancing, reorganization, restructuring or any other opportunity in respect of all, or substantially all of one or more components of the assets and/or the business operations of Fire & Flower.

Fire & Flower operates a large network of cannabis dispensaries with the value proposition of the best products at the best prices. Fire & Flower is a fully integrated cannabis retail business that also includes a retail consumer technology platform, established loyalty program, and wholesale and logistics business.
On June 5, 2023, Fire & Flower was granted creditor protection pursuant to an order (as amended and restated, the “Initial Order”) issued under the CCAA from the Ontario Superior Court of Justice (Commercial List) (the “Court”).

Pursuant to an order granted by the Court on June 21, 2023 (the “SISP Approval Order”), Fire & Flower has initiated the SISP for a sale, refinancing, reorganization, restructuring or any other opportunity in respect of all, or substantially all of the assets and/or the business operations of Fire & Flower, to be conducted by the Monitor and FTICA, with the assistance of Fire & Flower. Interested parties who wish to submit a bid in the SISP must deliver a non-binding letter of interest to the Monitor and Fire & Flower in accordance with the SISP, by no later than 5:00 p.m. (Eastern Time) on July 13, 2023. Final binding offers are due by no later than 5:00 pm (Eastern Time) on August 11, 2023, unless extended in accordance with the terms of the SISP.

Copies of the Initial Order, the SISP Approval Order and all related materials can be obtained from the website of the Monitor at:

http://cfcanada.fticonsulting.com/fireandflower/.

Those interested in participating in the SISP should contact the Monitor to receive additional information at:

FTI Consulting Canada Inc.
79 Wellington Street West
Suite 2010, P.O. Box 104
Toronto, ON M5K 1G8
Attention: Richard Kim
Email: Richard.Kim@fticonsulting.com

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