Fire and Flower buying PotGuide cannabis website for US$8.5M in cash and shares | iNFOnews.ca
Cannabis plants grow inside of Thrive Cannabis' production facility in Simcoe, Ont. Tuesday, April 13, 2021. Cannabis retailer Fire and Flower Holdings Corp. has signed a deal to buy the company behind the PotGuide cannabis website for US$8.5 million in cash and shares. THE CANADIAN PRESS/Tara Walton

Fire and Flower buying PotGuide cannabis website for US$8.5M in cash and shares

TORONTO – Cannabis retailer Fire and Flower Holdings Corp. has signed a deal to buy the company behind the PotGuide cannabis website for US$8.5 million in cash and shares.

Under the deal, the company will pay US$4 million in cash and nearly six million shares for PGED Corp.

The agreement follows Fire and Flower's announcement earlier this month that it had signed to buy certain assets of Wikileaf Technologies Inc.

The company says the acquisitions will help make its Hifyre digital network become one of the world's most visited networks of cannabis websites and content platforms.

Fire and Flower owns and operates the Fire and Flower, Friendly Stranger, Happy Dayz and Hotbox brands.

It has more than 85 corporate-owned stores in its network.

This report by The Canadian Press was first published Aug. 26, 2021.

Companies in this story: (TSX:FAF)

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Howard Alexander

Assistant Editor Howard Alexander comes to iNFOnews.ca from the broadcasting side of the media business.

Howard has been a reporter, news anchor, talk show host and news director, first in Saskatchewan and then the Okanagan.

He moved his family to Vernon in the 90s and is proud to call the Okanagan home.

If you have an event to share contact Howard at 250-309-5343or email halexander@infonews.ca.

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