- High Tide (HITI) has acquired eight operating retail cannabis stores in British Columbia and Alberta for $4.2 million
- High Tide funded the acquisition by issuing 1,782,838 common shares
- For the three months ended April 30, 2022, the acquired stores, along with the ninth store in Niagara, generated annualized revenue of $10.2 million
- High Tide is a retail-focused cannabis company with bricks-and-mortar and e-commerce assets
- High Tide Inc. (HITI) opened trading at C$1.86
High Tide (HITI) has acquired eight operating retail cannabis stores in British Columbia and Alberta for $4.2 million.
The company intends to close the acquisition of the ninth store in Niagara, Ontario, pending regulatory approvals.
For the three months ended April 30, 2022, the acquired stores, along with the ninth store in Niagara, Ontario, generated annualized revenue of $10.2 million and annualized Adjusted EBITDA of $1.3 million.
High Tide funded the acquisition by issuing 1,782,838 common shares. The closing of the acquisition remains subject to final approval from the TSXV.
High Tide is a retail-focused cannabis company with bricks-and-mortar and e-commerce assets. The company is the largest Canadian retailer of recreational cannabis as measured by revenue, with 139 current locations in Ontario, Alberta, British Columbia, Manitoba, and Saskatchewan.
High Tide Inc. (HITI) opened trading at C$1.86.
