An anonymous director reports

FIRE & FLOWER ENGAGES FINANCIAL ADVISER

Fire & Flower Holdings Corp. has engaged a financial adviser to assist the company with reviewing strategic options including financing options.

As disclosed in the company's interim financial statements and management discussion and analysis released on May 15, 2023, the company will require additional financing and is actively pursuing financing options to raise additional capital in order to finance its operations, meet its future growth targets and continue to operate as a going concern. There is no assurance that these initiatives will be successful, timely or sufficient. Reference is made to Fire & Flower's financial statements and management discussion and analysis which are available on Fire & Flower's SEDAR profile at SEDAR and on Fire & Flower's website, including the disclosure under "Liquidity and Capital Resources" in the company's interim management discussion and analysis and "Note 1-Nature of Operations and Going Concern" in the company's interim financial statements.

About Fire & Flower Holdings Corp.

Fire & Flower is a leading, technology-powered, adult-use cannabis retailer with more than 90 corporate-owned stores in its network. The company leverages its wholly owned technology development subsidiary, Hifyre, to continually advance its proprietary retail operations model while also providing additional independent high-margin revenue streams. Fire & Flower guides consumers through the complex world of cannabis through education-focused, best-in-class retailing while the Hifyre digital retail and analytics platform empowers retailers to optimize their connections with consumers. The company's leadership team combines extensive experience in the technology, logistics, cannabis and retail industries. Through the strategic investment of Alimentation Couche-Tard (owner of Circle K convenience stores), the company has set its sights on global expansion as new cannabis markets emerge and is poised to expand into the United States when permitted through its strategic licensing agreement with Fire & Flower U.S. Holdings upon the occurrence of certain changes to the cannabis regulatory regime. Fire & Flower is a multibanner cannabis retail operator that owns and operates the Fire & Flower, Friendly Stranger, Happy Dayz and Firebird Delivery brands. Fire & Flower Holdings owns all issued and outstanding shares in Fire & Flower Inc. and Friendly Stranger Holdings Corp., licensed cannabis retailers that own and operate cannabis retail stores in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. It is also active in Yukon.

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