- Delta 9 Cannabis (DN) has acquired seventeen Uncle Sam’s Cannabis stores in Alberta for $12.5 million
- The company is closing its $32 million credit facility with Connect First Credit Union and will complete a $10,000,000 private placement with Sundial Growers Inc.
- Delta 9 Cannabis is a vertically integrated cannabis company
- Delta 9 Cannabis Inc. (DN) opened trading at C$0.30 per share
Delta 9 Cannabis (DN) has acquired seventeen Uncle Sam’s Cannabis stores in Alberta for $12.5 million.
The acquisition of Uncle Sam’s Cannabis stores was completed through Delta 9 Cannabis Store Inc., a wholly-owned subsidiary of Delta 9 Cannabis Inc.
“We are pleased to have finalized this transaction to grow our market share in the Canadian retail cannabis market with an additional seventeen-store presence,” said John Arbuthnot, CEO of Delta 9. “Delta 9 now has 34 retail cannabis stores in operation across Canada and is positioning as one of the countries largest vertically integrated cannabis retailers. The company has an aggressive growth strategy to actively acquire cannabis retail stores that will provide meaningful revenue growth and positive adjusted EBITDA.”
The company will also complete a $10,000,000 private placement with Sundial Growers Inc.
“Delta 9 is excited to announce this strategic investment from Sundial which allows us to significantly expand our retail network to 34 operating stores across Canada and position Delta 9 as one of Canada’s leading vertically integrated cannabis retailers,” said Arbuthnot. “We also look forward to expanding our long-standing commercial partnership with Sundial as we position our respective brands for long-term success in the Canadian market.”
Delta 9 Cannabis is a vertically integrated cannabis company.
Delta 9 Cannabis Inc. (DN) opened trading at C$0.30 per share.