High Tide to acquire Mississauga retail cannabis store (NASDAQ:HITI)

High Tide (NASDAQ:HITI) has entered into a definitive asset purchase agreement to buy a retail cannabis store in Mississauga, Ontario, currently operating as Cantopia, for $600,000.
For the trailing three months ended May 31, 2024, the store generated annualized revenue of $2.3 million and annualized adjusted EBITDA of $0.4 million.
The purchase price represents 1.5x annualized adjusted EBITDA for the trailing three months ended May 31, 2024.
Source: Press Release