High Tide signs deal for majority stake in German medical cannabis company Purecan
- High Tide Inc. Has signed a deal to acquire a 51 percent stake in Purecan GmbH for about 4.8 million euros or about $7.1 million.
- Under the agreement, High Tide will pay 2.4 million euros in shares and 1.2 million in cash, along with a promissory note worth 1.2 million euros.
- Purecan's owners have granted High Tide a call option to acquire the remaining interest in Purecan not held by the company.
- High Tide's CEO Raj Grover states that the acquisition allows the company to become a leading supplier of medical cannabis from Canada.
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