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High Tide to acquire Bud Heaven for C$2.8M, expanding stores in Ontario

cannabis store in vienna

LewisTsePuiLung/iStock Editorial via Getty Images

  • High Tide (NASDAQ:HITI) to acquire 100% of the equity interest of Livonit Foods, operating as Bud Heaven, for C$2.8M (to be paid in shares) representing 3.5x annualized adj. EBITDA for the quarter ended Oct.31,2021.
  • Bud Heaven generated annualized revenue of C$4.7M and annualized adj. EBITDA of C$0.8M.
  • Bud Heaven operates two retail cannabis stores in Ontario which are the only retail cannabis stores that are currently operational in the Town of Bracebridge.
  • On Bud Heaven, as well as the Crossroads transaction closure, High Tide will have at least 40 stores in Ontario and 119 stores nationwide.

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