High Tide Closes Retail Cannabis Store Acquisition

High Tide has announced that it has closed the acquisition of a cannabis store currently operating in Tisdale.

High Tide Inc, an Alberta-based, retail-focused cannabis corporation enhanced by the manufacturing and wholesale distribution of smoking accessories and cannabis lifestyle products, today announced that it has closed the acquisition of a retail cannabis store (the "Transaction") currently operating in Tisdale, Saskatchewan (the "Tisdale Store") as licensed by the Saskatchewan Liquor and Gaming Authority (the "SLGA").

The consideration paid to acquire the Tisdale Store was $200,000 in cash, $500,000 in the form of a promissory note due six months from the time of closing of the Transaction and 5,000,000 of common shares of the Company.

Operating since the spring of 2019, the Tisdale Store has become a destination in the area, drawing local residents as well as people from surrounding communities as customers.

"Our purchase of the Tisdale Store marks our second location in Saskatchewan, which is expected to increase our ability to negotiate better wholesale prices directly with licensed producers of cannabis products, among other advantages including the opportunity to expand our e-commerce business in the province," said Raj Grover, President and Chief Executive Officer of High Tide.

"We welcome the staff of the Tisdale Store to the High Tide family and look forward to growing our Canna Cabana business and further enjoying the SLGA's industry-leading regulatory framework" Mr. Grover

Separately, on February 27, 2020, Nick Kuzyk, Chief Strategy Officer & SVP Capital Markets, will be transitioning to a consulting role with the Company. Since joining High Tide on April 2, 2018, Mr. Kuzyk was primarily responsible for the areas of corporate development, mergers and acquisition, raising capital and investor relations.

Raj Grover, President & Chief Executive Officer, will continue to oversee the Company's corporate strategic initiatives, while the capital markets and investor relations functions have been allocated across various internal and external resources.

To learn more about High Tide Inc visit their Company HQ here

Disclaimer: Past performance is not an indicator of future performance.

This could be one of the best investing opportunities of 2020

Legislative changes are blowing through the US, and with it, an ever-increasing number of states legalising cannabis for recreational use.

With the success seen in Illinois, which legalised for adult-use on January 1 and saw products moving off the shelf at an unprecedented rate, this company is primed to take advantage of the booming US recreational market.

They have secured partnerships with the biggest cannabis companies in the US, and their portfolio is second to none.

And with the sector-wide pullback of 2019, this company is now at a bargain-basement price.

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Niki Mohazeb
Niki Mohazeb

Niki is a Sydney based writer, with a passion for promoting the health benefits of medicinal cannabis. Niki also enjoys researching and writing about the future of cannabis along with the many other benefits that the plant provides, such as the diverse utilities of hemp.

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