High Tide to Acquire Premium Canadian Cannabis Brand, Queen of Bud for $1M
Portfolio Pulse from Benzinga Newsdesk
High Tide Inc. (NASDAQ:HITI) is set to acquire the Canadian cannabis brand Queen of Bud for $1M, expanding its international brand portfolio. The deal includes all IP and trademarks of Queen of Bud, with its founder becoming a global brand ambassador. The transaction, pending TSX Venture Exchange approval, involves a $100,000 cash payment and the remainder in High Tide Shares, based on a 10-day volume weighted average price.
March 15, 2024 | 10:05 am
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High Tide Inc. is acquiring Queen of Bud for $1M, aiming to expand its brand portfolio. The deal includes a mix of cash and stock payments.
The acquisition of Queen of Bud by High Tide Inc. is significant for the company's growth strategy, expanding its international brand portfolio. The payment structure, involving both cash and stock, indicates a strategic investment in the brand's future growth. This move is likely to be viewed positively by investors, given the potential for increased market share and revenue in the cannabis sector. The deal's reliance on stock payments also suggests confidence in the company's stock value, potentially signaling a positive outlook for High Tide's financial health.
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