High Tide Closes the Second Tranche in Its Acquisition of Choom, Adding Established Retail Store in Niagara Falls, Ontario
Retrieved on:
Thursday, September 1, 2022
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The Store is located at 7555 Montrose Road in Niagara Falls, Ontario, and is situated in Niagara Square, an outlet mall anchored by numerous national big box and discount retailers.
Key Points:
- The Store is located at 7555 Montrose Road in Niagara Falls, Ontario, and is situated in Niagara Square, an outlet mall anchored by numerous national big box and discount retailers.
- The Acquisition was completed pursuant to the terms of a binding agreement dated June 28, 2022 ("Acquisition Agreement").
- High Tide acquired the Store, including inventory, for CAD$1.1 Million, for approximately $300,000 in cash and by issuing 364,185 common shares of High Tide (each a "High Tide Share") at a deemed price of $2.3375 per High Tide Share.
- Pursuant to the Acquisition Agreement, 70% of the High Tide Shares issued are subject to a four month hold.