On January 21, 2021, Fire & Flower Holdings Corp. acquired Pineapple Express Delivery Inc. via a three-cornered amalgamation under the Canada Business Corporations Act. As consideration for the acquisition, Fire & Flower paid a total price of $11.7 million consisting of the repayment of $5.15 million in debt owed to multiple parties and the issuance of 1,153,142 of its common shares, a portion of which are subject to escrow and released on earn-out metrics based on the future performance of Pineapple Express Delivery.
Cassels acted for Pineapple Express Delivery and its controlling shareholder, World Class Extractions Inc.