NEWS PHOTO COLLIN GALLANT This yet-to-opened licensed cannabis retail outlet located on Dunmore Road in Medicine Hat is part of a seven-store, $12-million deal between Hide Tide Cannabis and Halo Lab, it was announced last week.
Marijuana retailer Hide Tide has sold its seven Alberta stores, including one set to open in Medicine Hat, for a total of $12 million in stock to another chain, Halo Labs, it was announced last week.
The deal involves chain stores branded as “Kush Bar,” which has two operating locations in Camrose and Morinville, plus planned locations in Medicine Hat, Calgary, Edmonton, Edson and Fort McMurray.
High Tide, whose major investors include production giants Aurora Cannabis and Aphria, acquires those as part of an all-stock deal with Halo Labs, and will enter into a third-party management agreement for the outlets.
A statement from Hide Tide reads that the firm will concentrate on its Canna Cabana locations and a third-party management contract.
Oregon-based Halo Labs describes itself as a leader in cultivation, processing and distribution. It announced global expansion plans in mid-2019.
The Medicine Hat outlet is located in the Carry Plaza, near Dunmore Road and Carry Drive, and was part of an initial batch of municipal permits dealt with by city planning staff in the early fall of 2018.
It is not yet licensed by the Alberta Gaming, Liquor and Cannabis Commission, which separately must rule on this week’s announced transaction within 150 days.
Second shop for Redcliff
With the number of licensed retail cannabis stores in Alberta growing to exactly 420 this week, a second application for Redcliff has been approved.
“Weed Warehouse” is approved to operate at 205 Broadway Ave. E. in the town next to Medicine Hat.
The first, “Green Peace Hempire,” opened in November 2019.
