High Tide buying two Jimmy’s Cannabis Shop locations in British Columbia

Canadian cannabis company High Tide Inc. HITI, -4.26% HITI, -3.66% said Thursday it agreed to pay C$5.3 million ($3.88 million) to acquire two retail stores in British Columbia from seller 1171882 B.C. Ltd., operating as Jimmy’s Cannabis Shop BC. The stores, one in Cranbrook and the other in Prince George, generated C$5.4 million in annualized revenue for the trailing four months ended May 31. Shares of High Tide are down 64.4% in 2022, compared to a 65.2% drop by the Cannabis ETF THCX, -2.69%.

Source: Marketwatch

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