Emblem Signs 3-Year Supplier Agreement with Fire & Flower
April 11th, 2018
TORONTO, April 11, 2018 (GLOBE NEWSWIRE) — Emblem Corp. (EMC.V) (EMC-WT.V) (“Emblem” or the “Company”), announced today that it has entered into a supplier agreement (the “Agreement”) pursuant to which Emblem, through its wholly owned subsidiary, Emblem Cannabis Corp., will become a preferred cannabis supplier to Fire & Flower Inc. (“Fire & Flower”).
Subject to the approval and subsequent Royal Assent of Bill C-45, the proposed Cannabis Act (Canada) and the receipt by Fire & Flower of all required licensing under the applicable provincial cannabis regimes, pursuant to the Agreement, Emblem will supply Fire & Flower with Emblem branded cannabis products for an initial period of three consecutive years. It is expected the products will be sold in-store in all provinces in which Fire & Flower operates and, if applicable, in which Emblem has received a provincial listing.
Nick Dean, CEO of Emblem, says the deal presents an incredible opportunity for Emblem to get their adult-use brands into the hands of consumers across Canada. “The retail environment will be critical to generating brand awareness, educating the consumer about products and ultimately driving market share for our adult-use brands,” says Dean. “Today’s deal with Fire & Flower reinforces our belief that the greatest shareholder value will be achieved in the long-run via channels that give the greatest access to consumers. As Fire & Flower is building a leading retail concept in the cannabis space, we anticipate that this arrangement will assist us in our single-minded focus on driving shareholder value.”
“We are excited to enter into this agreement with Emblem. Their awareness of the importance of the retail channel in cannabis as well as their commitment to creating adult-use brands that resonate with consumers aligns well with Fire & Flower’s best-in-class retail cannabis strategy,” explains Trevor Fencott, CEO of Fire & Flower. “There is a lot to accomplish preparing for legalization in Canada, and having partners like Emblem that can move as quickly and decisively as us in the space is definitely an asset.”
Certain directors and officers of Emblem have interests in Fire & Flower. In particular, Harvey Shapiro, a director and the Chairman of the Company, is also a director of Fire & Flower. In addition, Mr. Shapiro owns approximately 19.5% of the common shares of Fire & Flower and controls and directs approximately an additional 65% of the common shares through a voting trust. Further, Maxim Zavet, a director of the Company, owns approximately 4.2% of the common shares of Fire & Flower and Nick Dean, the President and Chief Executive Officer of the Company owns approximately 0.3% of the common shares of Fire & Flower.
Due to the ongoing nature of the negotiations surrounding the Agreement, there will be less than 21 days between the date on which the Company files a material change report with respect to the entering into of the Agreement. The Company considers this is reasonable and necessary in order to ensure the Company’s ability to become a preferred supplier and to obtain the benefits associated with the Agreement.
Emblem Corp., through its wholly-owned subsidiary Emblem Cannabis Corporation, is a fully integrated licensed producer and distributor of medical cannabis and cannabis derivatives in Canada under the ACMPR (Access to Cannabis for Medical Purposes Regulations). Led by a team of cannabis experts and former health care and pharma executives, it has three distinct verticals – cannabis production, patient education centers, and pharmaceutical dosage form development. Emblem trades under the ticker symbol EMC on the TSX Venture Exchange.
About Fire & Flower
Founded by successful cannabis entrepreneurs from the legal Canadian cannabis industry, Fire & Flower is a corporately-owned retail cannabis-lifestyle brand and store concept. Fire & Flower specializes in elevating the Canadian cannabis experience through the thoughtful curation of products, experiential offerings and education-based programming. Fire & Flower is poised to serve customers across the country in Provinces where private retail is permitted.
For further information contact:
Chief Financial Officer
Vice President, Brand & Marketing
Fire & Flower Inc.
This news release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation (together, “forward-looking statements”), including statements regarding the Agreement, the successful fulfillment of the Agreement, the Company’s ability to satisfy its obligations under the Agreement, the financial benefit of the Agreement, and the approval of the TSXV. All statements and information contained herein that is not clearly historical in nature may constitute a forward-looking statement. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements.
Forward-looking statements are not a guarantee of future performance and are subject to and involve a number of known and unknown risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks identified in the Company’s annual information form dated October 18, 2017 which has been filed with the Canadian Securities Administrators and is available on www.sedar.com, risks of non-performance by Fire & Flower, the risk that the Company and/or Fire & Flower do not receive the required licenses and permits to perform the obligations under the Agreement and the risk that the proposed operations of Fire & Flower do not conform with the provincial regulatory regime. Any forward-looking statements contained herein are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
Readers are cautioned not to put undue reliance on these forward-looking statements. This news release contains information obtained by the Company from third parties and believes such information to be accurate but has not independently verified such information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
Follow Us on Social Media
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.