High Tide (HITI) has acquired a cannabis retail store in Chestermere, Alberta, for 670,000 Canadian dollars ($470,809) in cash, expanding its Canna Cabana network, the company said Thursday.
The transaction closed Oct. 8 and values the store at 2.1 times its annualized adjusted EBITDA of about CA$316,000 for the three months ended Aug. 31, the company said.
The location will be rebranded under the Canna Cabana banner, it added.
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