Sunday, January 29, 2023
Cannabis News Daily
No Result
View All Result
  • Home
  • Cannabis News
  • Medical Marijuana
  • Legalization
  • Cannabis Business
  • Cannabis Laws
  • Cannabis Retail
No Result
View All Result
  • Home
  • Cannabis News
  • Medical Marijuana
  • Legalization
  • Cannabis Business
  • Cannabis Laws
  • Cannabis Retail
No Result
View All Result
Cannabis News Daily
No Result
View All Result
Home Cannabis Retail

High Tide Cannabis Shares Down After Sale Of Its KushBar Retail Assets To Halo Collective, High Tide Seeking More Cannabis Dispensaries

cannabisnews by cannabisnews
July 15, 2021
in Cannabis Retail
0
High Tide Cannabis Shares Down After Sale Of Its KushBar Retail Assets To Halo Collective, High Tide Seeking More Cannabis Dispensaries
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Cannabis retailer High Tide Inc. (TSXV:HITI) (NASDAQ:HITI) (FRA:2LYA) has sold its KushBar retail cannabis assets to Halo Collective Inc. (NEO: HALO) (OTCQX:AGEEF), previously known as Halo Labs Inc. 

The move follows High Tide’s recent announcement it’s seeking to acquire six retail cannabis stores in Regina, Saskatchewan in a CA$2.9 million ($2.31 million) stock and cash deal.

Under the previously announced deal between Halo and High Tide, Halo’s wholly-owned subsidiary purchased three operating KushBar retail cannabis stores for $5.7 million.

The sum includes:

  • A deposit of $3.5 million, which was already paid in 2020 through the issuance of 13,461,538 Halo common shares to High Tide at $0.26 per common share,
  • $1.8 million in a convertible promissory note with a conversion rate of $0.16 per Halo common share, which Halo issued on the closing; and

  • $400,000 in a convertible promissory note with a conversion rate of $0.16 per Halo common share, which are to be issued by Halo on the first anniversary of the closing of the asset sale, if certain revenue milestones are achieved.

The deal was subject to approval by the Alberta, Gaming, Liquor, and Cannabis Commission and the satisfaction or waiver of other customary conditions, High Tide disclosed.

High Tide recently reported that its revenue spiked 99% sequentially to CA$40.9 million ($33.12 million) in the second quarter of fiscal 2021, during which it merged with META Growth Corp. in an all-stock transaction and acquired Smoke Cartel, Inc. for $8 million.

Price Action

High Tide’s shares were trading 7.43% lower at $6.35 per share at the time of writing.

Photo Source: CNW Group/High Tide Inc.



Source link

RELATED POSTS

Valley News – Column: Small producers deserve direct access to market

Cannabis now coming to a doorstep near you

ShareTweetPin
cannabisnews

cannabisnews

Related Posts

Valley News – Column: Small producers deserve direct access to market

Valley News – Column: Small producers deserve direct access to market

by cannabisnews
March 26, 2022
0

The first day of adult-use cannabis sales in Vermont is May 1, just over a month away, when residents...

Cannabis now coming to a doorstep near you

Cannabis now coming to a doorstep near you

by cannabisnews
March 26, 2022
0

Cannabis retailers are now able to offer delivery to their customers, but there are barriers. Retailers must hire their...

Partner of Proposed Jacksonville Cannabis Dispensary Talks Business Plans – WLDS

Partner of Proposed Jacksonville Cannabis Dispensary Talks Business Plans – WLDS

by cannabisnews
March 26, 2022
0

The City of Jacksonville is one vote away from having an adult use cannabis dispensary. The City Council will...

State board hosts roundtable on cannabis retail store safety | Business

State board hosts roundtable on cannabis retail store safety | Business

by cannabisnews
March 25, 2022
0

Country United States of AmericaUS Virgin IslandsUnited States Minor Outlying IslandsCanadaMexico, United Mexican StatesBahamas, Commonwealth of theCuba, Republic ofDominican...

State cannabis industry asks local leaders for help after deadly robberies

State cannabis industry asks local leaders for help after deadly robberies

by cannabisnews
March 25, 2022
0

After a huge increase in armed robberies at local pot stores, and numerous deaths, the state cannabis industry says...

Next Post
Fetty Wap On Smoking Weed With Snoop, Dealing With Glaucoma, His New Cannabis And Crypto Game

Fetty Wap On Smoking Weed With Snoop, Dealing With Glaucoma, His New Cannabis And Crypto Game

P&Z Meeting to Include Public Hearing on Proposed Prohibition of Retail Pot Businesses in Greenwich

Missoula voters will decide 3% marijuana tax; county places question on ballot

RECOMMENDED

Valley News – Column: Small producers deserve direct access to market

Valley News – Column: Small producers deserve direct access to market

March 26, 2022

Decriminalization: The pathway to legalization and cannabis equity | Nikki Fried – South Florida Sun Sentinel

March 26, 2022
  • 22M Fans
  • 121 Followers
  • 650 Followers
  • 23.7k Followers

MOST VIEWED

  • US Hemp and Cannabis Industry Leaders to Participate with Government at Event Celebrating New Legalization In Costa Rica

    US Hemp and Cannabis Industry Leaders to Participate with Government at Event Celebrating New Legalization In Costa Rica

    0 shares
    Share 0 Tweet 0
  • Oklahoma Cannabis Pioneer Joins Forces with Budding Cannabis Brand Ganja Goat Guru

    1 shares
    Share 0 Tweet 0
  • New Jersey Begins Accepting Recreational Cannabis License Applications: When Will Dispensaries Open?

    0 shares
    Share 0 Tweet 0
  • Federal Marijuana Legalization Bill May Receive House Floor Vote Next Week, Sources Say

    0 shares
    Share 0 Tweet 0
  • Legalizing recreational marijuana in Florida

    0 shares
    Share 0 Tweet 0

Recent News

Valley News – Column: Small producers deserve direct access to market

Valley News – Column: Small producers deserve direct access to market

March 26, 2022

Decriminalization: The pathway to legalization and cannabis equity | Nikki Fried – South Florida Sun Sentinel

March 26, 2022
Will SAFE Banking Act help?

Will SAFE Banking Act help?

March 26, 2022

CATEGORY

  • Cannabis Business
  • Cannabis Laws
  • Cannabis News
  • Cannabis Retail
  • Legalization
  • Medical Marijuana

Contact Us

  • Privacy & Policy
  • About Us
  • Contact Us

© 2021 Copyright Cannabis News Daily

No Result
View All Result
  • Home
  • Cannabis News
  • Medical Marijuana
  • Legalization
  • Cannabis Business
  • Cannabis Laws
  • Cannabis Retail

© 2021 Copyright Cannabis News Daily