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What’s a retail store worth in Saskatchewan?

A cannabis store in Tisdale, Saskatchewan has sold for $700,000 and 5,000,000 common shares of High Tide Inc., the company that purchased the store. $200,000 is in cash and $500,000 is in the form of a promissory note that will be due six months from the time of the closing of the transaction.

The Tisdale Store opened in the spring of 2019 and will be High Tide’s second location in Saskatchewan. The other Canna Cabana store is operating in Swift Current. Raj Grover, president & CEO of High Tide, says he expects the second store will “increase our ability to negotiate better wholesale prices directly with licensed producers of cannabis products, among other advantages including the opportunity to expand our e-commerce business in the province.”

Canna Cabana has 28 branded stores in Canada. KushBar is another brand operated by High Tide and it currently has two stores operating in Alberta.