Global cannabis investment company MMJ Phytotech has acquired a minority stake in Canadian cannabis retailer Fire & Flower.

The move by the company is in line with the Canadian government’s announcement of legalising and regulating marijuana for recreational use in the country.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

As part of the deal, MMJ has invested C$1m ($782,120) to purchase 1.25 million shares in the Canadian cannabis retail chain.

“Fire & Flower is a retail investment with an experienced management team and significant potential that further diversifies our portfolio.”

MMJ Phytotech chief executive Jason Conroy said: “Fire & Flower is a retail investment with an experienced management team and significant potential that further diversifies our portfolio ahead of the expected federal legalisation of cannabis later this year in Canada.”

The Canadian cannabis retailer will also open 37 retail stores in Alberta, following the successful legalisation of the use of recreational marijuana, which will take effect in summer of this year.

Fire & Flower is a corporate retail store offering cannabis products through education-based programming in Canada.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Based in Perth, Australia, MMJ Phytotech invests in cannabis-related sectors, such as cultivation, processing, technology and infrastructure, equipment, R&D, hemp food products, retail and healthcare products.

In October last year, the company announced plans to become an incubator for strategic investments in cannabis value chain.

The investment firm currently owns a minority stake in Harvest One, a full ownership of Israeli-based R&D division PhytoTech Therapeutics, along with strategic holdings in e-Sense Lab and Canadian-based WeedMe.