Fire & Flower Holdings Corp.’s $11.7 Million Acquisition of Pineapple Express Delivery Inc.

Cassels acted for Pineapple Express Delivery and its controlling shareholder, World Class Extractions Inc.

Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWF) has acquired Pineapple Express Delivery Inc. via a three-cornered amalgamation under the Canada Business Corporations Act.

As consideration for the acquisition, Fire & Flower paid a total price of $11.7 million consisting of the repayment of $5.15 million in debt owed to multiple parties and the issuance of 1,153,142 of its common shares, a portion of which are subject to escrow and released on earn-out metrics based on the future performance of Pineapple Express Delivery.

Fire & Flower is a leading, technology-powered, adult-use cannabis retailer with more than 100 corporate-owned stores in its network.

Pineapple Express Delivery is a leading logistics technology company offering compliant and secure delivery services for controlled substances and regulated products, including transportation and delivery of medical and recreational products in Ontario, Manitoba and Saskatchewan, and liquor products in Saskatchewan. 

World Class Extractions Inc.(CSE: PUMP) (FRA:WCF) (OTCQB:WCEXF) is an an industrial-grade cannabis extraction company. 

The Cassels’ team was led by Jeff Durno (Picture), and included David Hansford, Stephanie Lee and Andrea Breden. 

Involved fees earner: Jeff Durno – Cassels Brock & Blackwell LLP; David Hansford – Cassels Brock & Blackwell LLP; Stephanie Lee – Cassels Brock & Blackwell LLP;

Law Firms: Cassels Brock & Blackwell LLP;

Clients: World Class Extractions Inc.;

Sonia Carcano

Author: Sonia Carcano