High Tide Inc. to Acquire Northern Helm

High Tide Inc. is acquiring Northern Helm for $7.74 million to expand its retail cannabis operations in Ontario. This acquisition will add four stores to High Tide's portfolio, bringing their total store count to 228 Canna Cabana locations across Canada and 103 in Ontario. The transaction is expected to close in the coming weeks, subject to regulatory approvals. High Tide aims to leverage this acquisition to further its growth strategy, which includes expanding its retail network and developing its medical cannabis division. The company highlighted that the purchase price represents 4.5 times the annualized Adjusted EBITDA of the target stores.