Aurora Cannabis invests $10M in marijuana retailer High Tide

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Aurora Cannabis Inc. has signed a deal to invest $10 million in High Tide Inc., a privately held company with cannabis and cannabis accessory retail stores.

Under the agreement, Aurora will hold debentures that will bear an annual interest rate of 8.5 per cent.

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The debentures will also be convertible into shares of High Tide at a price of 75 cents per share.

High Tide has four cannabis retail stores in Alberta under the Canna Cabana banner, and a majority stake in KushBar Inc.

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It also has plans to open more stores in Alberta as well as expand into Ontario and B.C.

In addition to the retail side, High Tide has two wholesale businesses — Famous Brandz and RGR Canada — and 19 Smoker’s Corner retail locations.

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