Article by Toronto Star
Cannabis retailers High Tide Inc. and Meta Growth Corp. will merge in a new deal that they say will make them the largest legal pot shop network in Canada.
The companies say the merger will give them a combined 63 stores across Ontario, Alberta, Manitoba and Saskatchewan and make it the single largest Canadian cannabis retailer by revenue with about $133 million in annualized revenue.
The companies plan to double their current footprint to about 115 locations by the end of 2021 by focusing mostly on Ontario.
Under the agreement, Toronto-based Meta’s shareholders will receive 0.824 of a High Tide share for each Meta share they hold. Meta shareholders are expected to hold a 45.6 per cent stake in the combined company.