- High Tide ( NASDAQ: HITI ) seized the shares of Halo Kushbar Retail, which owns three operating cannabis retail stores in Alberta.
- Kushbar Stores was sold to Halo Collective for $5.7M from which $3.9M was already paid; partial consideration received from Halo was a convertible promissory note in the principal amount of $1.8M.
- High Tide expects full ownership of Kushbar to be acquired in early August 2022.
- The Kushbar Stores are on an annual revenue run rate of $3.25M for the three months ended June 2022 which marks a 10% growth from previous quarter.
- High Tide granted 21K stock options to employees post its fixed 20% equity incentive omnibus plan.
For further details see:
High Tide undertakes control of Three Kushbar locations in Alberta