There’s been a local cannabis company takeover.
Cannabis retailer High Tide Inc. has signed a deal to buy Livonit Foods Inc., which operates two stores in Bracebridge under the Bud Heaven banner.
The company is paying $2.8 million in shares for the stores.
High Tide CEO Raj Grover says the deal helps it become a meaningful player in Ontario’s cottage country, a region where it did not have a presence.
High Tide has more than 100 locations across Ontario, Alberta, Manitoba and Saskatchewan.
Its banners include Canna Cabana, Meta Cannabis Co. and Meta Cannabis Supply Co.
-This report by The Canadian Press was first published March 30, 2022.