Fire & Flower Holdings Corp. and its wholly-owned subsidiary Hifyre™ Inc., today announced the proposed acquisition of all issued and outstanding shares of PGED Corp., one of the world’s largest cannabis websites and content platforms. PotGuide is one of the most visited cannabis websites in North America, as reported by industry-standard online traffic tools. Along with the proposed acquisition of certain assets of Wikileaf Technologies Inc. (“Wikileaf”) announced earlier this month, the Hifyre digital network will become one of the world’s most visited networks of cannabis websites and content platforms. Upon closing, the Acquisition is expected to be immediately accretive to the Company’s revenue and profitability and will provide Hifyre with a U.S. base for technology and operations. Following the closing of the Acquisition, Hifyre intends to leverage this significant user traffic and its proprietary white-label dispensary e-commerce software to convert traffic into cannabis and accessory purchases. The purchases will be fulfilled by the Fire & Flower retail network across Canada and in California through its agreement with Fire & Flower U.S. Holdings Inc. Hifyre anticipates creating additional agreements with dispensary networks across Canada and the U.S. to fulfill cannabis purchases in as many geographic locations as possible.
Published Ncv Newswire, New Cannabis Ventures, 08/26/2021 08:12:00