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

·1 min read

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)

The Canadian Press

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