Emblem (TSXV:EMC) entered into a supplier agreement where its subsidiary would become the preferred cannabis supplier to Fire and Flower.
As quoted in the press release:
Subject to the approval and subsequent Royal Assent of Bill C-45, the proposed Cannabis Act (Canada) and the receipt by Fire & Flower of all required licensing under the applicable provincial cannabis regimes, pursuant to the Agreement, Emblem will supply Fire & Flower with Emblem branded cannabis products for an initial period of three consecutive years. It is expected the products will be sold in-store in all provinces in which Fire & Flower operates and, if applicable, in which Emblem has received a provincial listing.
Nick Dean, CEO of Emblem, says the deal presents an incredible opportunity for Emblem to get their adult-use brands into the hands of consumers across Canada. “The retail environment will be critical to generating brand awareness, educating the consumer about products and ultimately driving market share for our adult-use brands,” says Dean. “Today’s deal with Fire & Flower reinforces our belief that the greatest shareholder value will be achieved in the long-run via channels that give the greatest access to consumers. As Fire & Flower is building a leading retail concept in the cannabis space, we anticipate that this arrangement will assist us in our single-minded focus on driving shareholder value.”