Eden Empire announced plans to buy up to seven private cannabis retail stores in BC. The company raised $4.9 million for the deal, as part of a larger $7 million private placement offering.
The retail licences are awaiting approval by the Liquor and Cannabis Regulation Branch. While locations have not been publicly released, it appears an Eden location in Salmon Arm just received municipal support. Eden’s acquisition of 7 stores was reached via a series of share purchase transactions, also subject to approval by the LCRB.
The company says funds raised will be used to purchase the stores and for the modernization of stores, future acquisitions, and general working capital. The deal is meant to further Eden’s presence in the retail cannabis space in BC. They currently operate stores in Ontario and Saskatchewan.