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Convenience store giant to increase stake in marijuana retailer fire & Flower

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Alimentation couche tard, a multinational convenience store operator, plans to increase its stake in fire & flower, Canada's major cannabis retailer, by about 14.49% to about 35.32%. Couche tard, who owns circle K convenience store, plans to acquire more than 8.2 million shares of Ontario based fire & flower through the exercise of warrants two days after it released its annual earnings on April 26. Fire & flower is traded on the Toronto Stock Exchange as FAF and plans to be listed on NASDAQ. The retailer reached a licensing agreement with an American Marijuana store operator and said it was "prepared to expand into the United States if allowed".


Source: mjbizdaily com/