High Tide (CSE: HITI) (OTCQB: HITIF) (Frankfurt: 2LY) has closed the acquisition of a Smoker’s Corner franchise in Edmonton, Alberta.

The purchase price of $475,000 consists of $270,000 in cash and 559,742 common shares of High Tide.

With the municipal development permit, the company has started the process of converting the Edmonton store to a Canna Cabana retail location for the sale of recreational cannabis for adult use, subject to inspection and licensing by Alberta Gaming, Liquor and Cannabis.

The store is situated in the heart of Edmonton and its population of over 980,000 people.