Fire & Flower Holdings Corp (CVE:FAF) CEO Trevor Fencott is excited about the company’s debut on the TSX Venture Exchange. Fencott is thrilled with the growing interest in the company, noting Fire & Flower’s trading volume was 3 million on its debut. The cannabis retail chain recently announced it reached licensing agreements with two cannabis retail lottery winners to create Fire & Flower branded stores in Kingston and Ottawa. Fire & Flower has 7 stores in Alberta and 2 in Saskatchewan with plans for more. So far, sales have exceeded expectation and the 9 stores have combined for $10 million in revenue over the first 90 days of recreational sales. Fencott is thrilled the company’s individual stores have surpassed estimates as well and, based on run rates, are on track for $4 to $5 million in revenue per store annually.
Transcript:
Narrator: Fire and Flower is a cannabis retail franchise, with provincial licenses to operate seven cannabis retail stores in Alberta, two cannabis retail stores in Saskatchewan, as well as a wholesale cannabis supply business.
The company is currently pursuing additional licenses to operate stores in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario.
Fire and Flower stores recently surpassed $10 million in sales since legalization. The company had five locations open on October 17th, and has since doubled its retail footprint.
Fire and Flower began trading on the TSX Venture today under the ticker symbol FAF.
James West: Joining me now is the CEO of Fire and Flower Holdings Corp: Trevor Fencott joins me. How are you, Trevor?
Trevor Fencott: I’m well, I’m well, thanks.