HITI - Weed Retail Giant High Tide Expands International Brand Portfolio With Another Cannabis Acquisition | Benzinga
Cannabis retail giant High Tide Inc. (NASDAQ:HITI) (TSXV:HITI) (FSE: 2LYA) is expanding its international brand portfolio through the acquisition of the Queen of Bud brand.
What Happened
The Alberta-based company announced on Friday that it has entered into a definitive agreement under which it agreed to acquire all IP, including trademarks and other assets of Queen of Bud.
The deal, an arm’s length transaction, is expected to close in the coming weeks.
The consideration for the assets acquired will be $1 million. The sum includes a cash payment of $100,000 with the remainder paid in common shares of High Tide.
In addition, Queen of Bud's founder and CEO, Ashley Newman, will take the role of global brand ambassador, as part of the deal.
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