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High Tide to Acquire Mississauga Retail Cannabis Store
High Tide to Acquire Mississauga Retail Cannabis Store Canada NewsWire The ...
About this update from High Tide, Inc.
[{"type":"text","content":"\n \n \n \n High Tide to Acquire Mississauga Retail Cannabis Store\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n The Company Maintains its Market Leadership Positi\n \n \n \n \n on\n \n \n \n \n in\n \n Mississauga\n \n with its Sixth Location in the City\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n June 26, 2024\n \n \n /CNW/ - High Tide Inc. (\"\n \n High Tide\n \n \" or the\n \n \"Company\n \n \") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that it has entered into a definitive asset purchase agreement dated\n \n June 25, 2024\n \n (the \"\n \n Purchase Agreement\n \n \") pursuant to which High Tide will acquire a retail cannabis store in\n \n Mississauga, Ontario\n \n , currently operating as Cantopia for\n \n $600,000\n \n (the \"\n \n Transaction\n \n \"). The store is located at 6400 Millcreek Drive,\n \n Mississauga\n \n and is situated in a bustling retail plaza surrounded by several small businesses. It is adjacent to an internationally recognized quick-serve restaurant and is steps away from a national discount retailer and a Canadian discount grocery chain.\n \n \n \n \n \n \n \n \n \n For the trailing three months ended\n \n May 31, 2024\n \n , the store generated annualized revenue of\n \n $2.3 Million\n \n and annualized Adjusted EBITDA\n \n 1\n \n of\n \n $0.4 Million\n \n . The purchase price represents 1.5x annualized Adjusted EBITDA for the trailing three months ended\n \n May 31, 2024\n \n .\n \n \n \"High Tide has always been focused on quality over quantity when looking at M&A opportunities, and this acquisition is another exampl...