Davies advised on transaction
Davies Ward Phillips & Vineberg LLP has advised the strategic investment by Alimentation Couche-Tard Inc in Fire & Flower Holdings Corp, an Edmonton-based independent cannabis retailer.
According to a statement by the law firm, Couche-Tard’s initial $25.9-million investment, which is subject to regulatory approvals, will give it rights to 9.9 per cent of Fire & Flower’s equity, with an option to increase its stake to 50.1 per cent.
The funds will be used by Fire & Flower to develop its Hifyre digital retail platform and expand its network of 23 cannabis outlets in Alberta, Ontario and Saskatchewan.
The convenience stores giant’s initial foray into cannabis retailing came in February — a multi-year partnership with retailer Canopy Growth Corp. to support a privately run cannabis shop in Ontario.
The Davies team that advised on the transaction includes partners Sébastien Thériault and Olivier Désilets, and associates Alyssa Wiseman and Amélie Doyon.