High Tide ( (TSE:HITI) ) has provided an announcement.
High Tide Inc. has paused its acquisition of a 51% interest in Purecan GmbH, initially intended to facilitate its entry into the German medical cannabis market. The company is now exploring alternative arrangements with Purecan to maintain its planned commercial exposure in Germany, while remaining committed to finding other opportunities in the market. This strategic reassessment underscores High Tide’s dedication to expanding its presence in the international cannabis market, despite uncertainties in the current transaction.
More about High Tide
High Tide Inc. is a leading cannabis enterprise known for its retail-forward approach and is the second-largest cannabis retailer globally by store count. The company operates a diverse range of cannabis-related businesses, including the largest cannabis retail chain in Canada, Canna Cabana, and various e-commerce platforms for consumption accessories. High Tide is also involved in CBD cultivation, wholesale distribution, and licensing, consistently recognized for its growth and innovation in the cannabis industry.
YTD Price Performance: -23.80%
Average Trading Volume: 716,800
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $204.2M
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