Cannabis Retailer Fire & Flower Taps Alberta Crown Corporation for $10 Million Credit Line

 Fire & Flower Holdings Corp. announced that it has entered into a commitment letter to obtain up to an aggregate amount of $10 million (with an option for an additional $5 Million subject to conditions as further described below) in secured, non-dilutive credit facilities with ATB Financial (the “Commitment Letter”).

The new financing will be comprised of two separate loan facilities on a two-year term: a revolving credit facility in the amount of $5 million, and a term loan in the amount of $5 million. Both loan facilities bear interest at ATB Financial’s reference rates plus a spread. The Commitment Letter also includes an “accordion” option to increase the revolving facility by an additional $5 million, subject to ATB Financial’s consent and certain other customary conditions. Funding will become available under the Commitment Letter upon the Company satisfying all applicable conditions precedent, which it anticipates it will accomplish prior to the end of April, 2020.

These new credit facilities will continue to strengthen our financial position and enable Fire & Flower to continue its national growth plan across cannabis retail markets in Canada.

Fire & Flower has obtained these credit facilities on favorable commercial terms and are secured by the assets of the Company and its subsidiaries. Additional details on the credit facilities with ATB Financial can be found in the Company’s documents that will be filed on SEDAR at www.sedar.com.

ATB Financial is the largest Alberta-based financial institution with over $50 billion in assets.