Fire & Flower Holdings Corp. (OTCQX:FFLWF) (TSX:FAF) announced that further to a notice of intent to exercise delivered on April 20, 2022, 2707031 Ontario Inc., an indirect wholly-owned subsidiary of Alimentation Couche-Tard Inc. (OTCPK:ANCTF) (collectively "ACT"), has exercised warrants effective April 28, 2022, to acquire 8.29 million common shares of Fire & Flower pursuant to the terms of a second amended and restated warrant certificate dated January 18, 2022.
The company received gross proceeds of $37.79 million from the exercise of the series B warrants, comprising 6.72 million series B warrants exercised at a price of $4.5103, representing the 20-day volume-weighted average price of the common shares of the company and 1.58 million series B warrants exercised at a price of $4.7732, in each case, in accordance with the terms of the series B warrant certificate.
