International cannabis venture investor Couche-Tard recently disclosed its plans to increase its holdings in Fire & Flower, a cannabis retailing giant. As of December 2021, Couche-Tard owned about 20-21% of the Canadian company’s shares, yet it aspires to acquire more — up to 35% in the coming weeks. Couche-Tard, a prominent multinational convenience store operator, has been keen on becoming a top name among cannabis-related investors globally. Its resilience can be observed in its quick procurement of substantial shares in Canada’s major cannabis retailer. This announcement suggests that before the end of the second quarter of the year, Couche-Tard could own as many as 8.2 million Fire & Flower shares. This intending exchange would play out once the Circle K convenience stores exercise their warrants. As mentioned earlier, Couche-Tard intends to buy these shares by flexing their warrants as soon as Fire & Flower’s annual earnings are released and published in a few days. Once the acquisition goes through, the Quebec-based convenience store giant would have increased its initial stake by at least 11%. From 14.5% to 35%. In fact, that’s more than double the amount of its existing shares. Different news release pegs the company’s total amount of Fire & Flower shares at 21.5% of the total amount. They claim the information was let out thanks to a regulatory filing sometime ago.
Terry Hacienda, The Fresh Toast, 05/14/2022 07:00:00