HITIF - High Tide has acquired leading e-commerce retailer Smoke Cartel for $8M

High Tide (HITIF) has completed the acquisition of Smoke Cartel Inc. (SMKC) for $8M and now operates both the largest and second largest e-commerce platforms for consumption accessories in the world with a combined total of 33M site visits in 2020.High Tide has considerably expanded its footprint in the United States market with this acquisition and is very enthusiastic about its position to begin online cannabis sales should the United States move forward with federal legalization. "The acquisition of Smoke Cartel is part of our strategy to aggressively pursue M&A targets that can be immediately accretive to shareholders. Now that the transaction has closed, High Tide will move quickly to take advantage of Smoke Cartel's proprietary and licensable drop-shipping technology to enhance all our e-commerce businesses and further drive vertical integration across all accessory business lines, while continuing to make progress on our application to list on the Nasdaq," said Raj

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High Tide has acquired leading e-commerce retailer Smoke Cartel for $8M