High Tide (CSE: HITI) (OTCQB: HITIF) (FRA: 2LY) has closed the acquisition of Dreamweavers Cannabis Products, a retail cannabis store, and e-commerce business currently operating in Swift Current, Saskatchewan.
The purchase price consists of $1,550,000 in cash and 3,100,000 of the special warrants previously authorized for issuance in December 2018, consisting of 3,100,000 common shares of High Tide and 1,550,000 purchase warrants exercisable at $0.75 per common share of the company.
High Tide Enters Saskatchewan
Dreamweavers is licensed by the Saskatchewan Liquor and Gaming Authority. Operating since January of 2019 in Swift Current, the company has quickly established itself as one of the leading retailers of cannabis in the province of Saskatchewan.
“Our purchase of Dreamweavers is a significant milestone for High Tide as it marks our entry into Saskatchewan, instantly establishes Canna Cabana as an online retailer of cannabis for the first time and adds a fantastic location as our 16th Canna Cabana-branded store to our growing network across Canada,” Raj Grover, the CEO of High Tide, stated.