Fire & Flower US Holdings Inc. (formerly American Acres Managers) has completed a non-brokered private placement of unsecured convertible debentures in the principal amount of approximately $5 million to the existing shareholders of the company. The net proceeds from the offering will be used for acquisition capital, capital expenditures and general working capital. With operations already in California, operating as Fire and Flower and utilizing the Hifyre platform, this unique partnership allows expansion to additional states including Colorado, bringing with it the Hifyre technology optimizing the personalized connection to customers. They are anticipating accessing two additional states in Q4 of 2022.
"Our team is excited to expedite the deployment of resources to expand both the Fire & Flower brand and the Hifyre platform to additional states, improving overall customer experience," stated Joe Gullia, national director of retail.
The debentures bear interest at 8% per annum and mature on August 2, 2024. The debentures may be converted, in whole or in part at the option of the company, into common shares in the capital of the company at a minimum conversion price of $1.00 per share at any time prior to the maturity date. If Fire & Flower Holdings Corp. FFLWF FFLWD FAF acquires the company under its purchase option previously announced on January 31, 2022, then the debentures will automatically convert into common shares in accordance with their terms immediately prior to the closing of the acquisition.
Photo by Mackenzie Marco on Unsplash
Related News
Fire & Flower And Pineapple Express Launch Recreational Cannabis Delivery In British Columbia
Fire & Flower Q1 2022 Revenue Dips Slightly, Here Are The Details
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving—don’t get left behind!
Curious about what’s next for the industry and how to stay ahead in today’s competitive market?
Join top executives, investors, and industry leaders at the Benzinga Cannabis Capital Conference in Chicago on June 9-10. Dive deep into market-shaping strategies, investment trends, and brand-building insights that will define the future of cannabis.
Secure your spot now before prices go up—this is where the biggest deals and connections happen!