/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES/

EDMONTON, July 23, 2019 /CNW/ - Fire & Flower Holdings Corp. and its wholly-owned subsidiary Fire & Flower Inc. (collectively, "Fire & Flower" or the "Company") (TSXV: FAF), today announced that it has received its licence to operate a cannabis retail store in Whitehorse, Yukon from the Yukon Liquor Corporation, Cannabis Licensing.

Upon opening, this will be the 24th Fire & Flower branded, licensed cannabis store and will be located at #110, 80 Chilkoot Way, Whitehorse, Yukon.

In addition to continuing to deliver on Fire & Flower's rapid near-term rollout schedule, the receipt of a licence in the Yukon territory demonstrates Fire & Flower's ability to successfully open cannabis retail stores in provinces across Canada where private cannabis retail is permitted.

"The receipt of a cannabis retail store licence in the Yukon demonstrates Fire & Flower's ability to successfully open retail stores rapidly across multiple jurisdictions with varying regulatory requirements," shared Trevor Fencott, Fire & Flower's Chief Executive Officer. "The opening of a Fire & Flower store in this northern Canadian market will enable us to further understand cannabis purchasing preferences through our proprietary Hifyre digital platform, that in turn will allow us to better tailor our experience to local markets. We look forward to becoming members of the Whitehorse community and welcoming local customers into our store."

Fire & Flower will announce the opening date and time of the Whitehorse store at its earliest opportunity on its website at www.fireandflower.com/locations/.

The Company continues to focus on opening stores in other Canadian provinces where private retail is permitted in addition to its ongoing roll out plan in Alberta.

About Fire & Flower

Fire & Flower is a leading purpose-built, independent adult-use cannabis retailer poised to capture significant Canadian market share. The Company guides consumers through the complex world of cannabis through education-focused, best-in-class retailing while the Hifyre digital platform connects consumers with cannabis products. The Company's leadership team combines extensive experience in the cannabis industry with strong capabilities in retail operations.

Fire & Flower Holdings Corp. owns all issued and outstanding shares in Fire & Flower Inc., a licensed cannabis retailer in the provinces of Alberta and Saskatchewan and is a consultant and licensor to Fire & Flower-branded retail locations in the province of Ontario.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws ("forward-looking statements"). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "project" and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur. These statements are only predictions.

Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements 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. No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct.

The Company assumes no obligation to publicly update or revise forward-looking statements to reflect new information, future events or otherwise, except as expressly required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Fire & Flower Holdings Corp.

For further information: Investor Relations, Chris Bolivar, Vice President, Brand and Marketing, [email protected], 1-833-680-4948; Media Relations, Nathan Mison, Vice President, Government and Stakeholder Relations, [email protected], 780-784-8859