High Tide To Buy 'Highly Accretive' Cannabis Store For $438K
Portfolio Pulse from Nina Zdinjak
High Tide Inc. (NASDAQ:HITI) will acquire a retail cannabis store in Mississauga, Ontario, for CA$600,000 ($438,417). The store, Cantopia, generated annualized revenue of CA$2.3 million and annualized Adjusted EBITDA of $400,000 for the three months ended May 31, 2024. The acquisition aligns with High Tide's strategy of focusing on high-quality M&A opportunities.
June 26, 2024 | 1:45 pm
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High Tide Inc. (NASDAQ:HITI) is acquiring Cantopia, a retail cannabis store in Mississauga, for CA$600,000. The acquisition is expected to be highly accretive, adding a store with strong revenues to High Tide's portfolio.
The acquisition of Cantopia is expected to be highly accretive for High Tide, adding a store with strong revenues to its portfolio. This aligns with High Tide's strategy of focusing on high-quality M&A opportunities, which should positively impact its stock price in the short term.
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