Since the program's official launch on September 19, 2019, Spark Perks has grown to more than 38,000 members. Of those members, 33% have conducted a second transaction since the creation of the member profile. Initial results indicate that on average, Spark Perks members spend 43% more than non-members, per transaction, in the Fire & Flower retail network.

"Since the launch of the Spark Perks program, Fire & Flower has seen an increase in customer engagement and basket size of members across our retail network," shared Trevor Fencott, Chief Executive Officer of Fire & Flower. "The launch of the Spark Perks member program demonstrates Fire & Flower's continued commitment to be a leading data-driven, 'retail 2.0' company."

"Hifyre has been developing Spark Perks for more than six months and we are delighted to see positive initial results in the member program," shared Matthew Hollingshead, President of Hifyre. "Hifyre continues to be at the forefront of digital cannabis retail. We focus on developing secure, data driven retail tools that connect customers with the brands and products they love."

For more information about the Spark Perks program, visit http://fireandflower.com/spark/.

About Hifyre

The Hifyre digital retail and analytics platform is a proprietary, data-driven system that supports Fire & Flower's advanced operations and provides a competitive advantage in understanding consumer behaviours in the evolving cannabis market.

In July of 2018, Fire & Flower completed the acquisition of Hifyre, the digital product studio responsible for developing the industry-first regulated cannabis e-commerce platform for Mettrum Health Corp. (now Canopy's Spectrum Cannabis).

Lead by digital industry veteran Matthew Hollingshead, Hifyre is composed of 18 digital product developers, strategists and data experts. Hifyre has worked in the legal cannabis industry for the last 6 years providing progressive custom digital solutions and services that create accelerated growth and operational savings. Hifyre's products and consulting services have helped generate hundreds of millions of dollars in corporate value for its partners.

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 HifyreTM 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 that owns or has interests in cannabis retail store licences in the provinces of Alberta, Saskatchewan, Manitoba and Ontario and the Yukon territory.

Through the strategic investment by Alimentation Couche-Tard Inc. (ATD.A, ATD.B), the Company has set its sights on the global expansion as new cannabis markets emerge.

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 FFHC at the date the statements are made based on information then available to FFHC. 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 FFHC, which may cause FFHC'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.

FFHC 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.

SOURCE Fire & Flower Holdings Corp.

For further information: Investor Relations: Chris Bolivar, [email protected], 1-833-680-4948; Media Relations, Nathan Mison, [email protected], 780-784-8859