Brendan Kennedy, CEO and founder of British Columbia-based Tilray Inc., a major Canadian marijuana grower, poses before closing Nasdaq, where his company’s IPO (TLRY) opened, Thursday, July 19, 2018, in New York. Tilray Inc. says it has signed a deal to acquire Alberta cannabis retailer Four20 in an agreement valued at up to $110 million.THE CANADIAN PRESS/AP/Bebeto Matthews

Nanaimo’s Tilray Inc. signs deal to acquire Alberta cannabis retailer Four20

Calgary-based Four20 owns and operates six stores in Alberta

Cannabis producer Tilray Inc. says it has signed a deal to acquire Alberta cannabis retailer Four20 in an agreement valued at up to $110 million.

Calgary-based Four20 owns and operates six stores in Alberta and has secured 16 additional store locations.

Under the terms of the agreement, Tilray will pay $70 million in Tilray class 2 common shares when the deal closes and an additional $40 million in common shares subject to the achievement of certain performance milestones.

Tilray is making the acquisition through its High Park Holdings Ltd. subsidiary.

The company says it plans to use Four20’s retail expertise to help expand into other provincial markets where licensed producer retail ownership will be permitted in the future.

The deal is subject to regulatory approval and subject to customary terms and conditions, including approval by Four20 shareholders and court approval of the arrangement.

READ MORE: Tilray reports Q2 loss grew to US$35M, revenue up

READ MORE: Provincial pot: The rocky road of regulation

The Canadian Press


Like us on Facebook and follow us on Twitter.

Just Posted

Lacombe mayor attends fall Mid-Sized Mayors’ Caucus

Caucus highlights fiscal responsibility

Lacombe Canadian Archery champion finishes 10th at worlds

Cameron Herbert has been a competitive archer for 10 years

Lacombe County: Do you have a gated property? Here’s what you need to know.

These gates are a deterrent for rural crime, they can also impede on emergency personnel

Lacombe Police Service joins North American rail-safety operation aimed at reducing preventable deaths and injuries on rail lines

Operation Clear Track aims to reduce the number of railway crossing and trespassing incident

WATCH: Enhanced Emergency Department opens at Lacombe Hospital

$3.1 million facility jointly funded by AHS, Lacombe Health Trust

‘Unacceptable’: What politicians have to say about Trudeau in blackface

Calgary Mayor Naheed Nenshi: ‘When I saw that picture last night, certainly it was a sucker-punch’

Judge finds Alberta couple not guilty in toddler son’s death

It was the second trial for the Stephans, who were found guilty by a jury in 2016

Alberta couple charged in toddler son’s death to learn fate from judge

David and Collet Stephan are charged with failing to provide the necessaries of life

Alberta government pitching that small rural areas pay for policing: NDP

Those 291 districts represent about 20 per cent of the Alberta population

Alberta inquiry into oil and gas foes could face legal challenge from Ecojustice

Alberta Premier Jason Kenney has repeatedly accused U.S. charities of bankrolling efforts

Yearbook photo surfaces of Trudeau wearing ‘brownface’ costume in 2001

The report describes the occasion as an ‘Arabian Nights’-themed gala event

‘Troubling, insulting’: NDP Leader Jagmeet Singh reacts to Trudeau’s brownface photo

Jagmeet Singh, leader of the New Democrats, responded with a call for love after Trudeau photos surface

VIDEO: Party leaders react to Trudeau’s brownface photo bombshell

Fallout from Justin Trudeau’s brownface photo, and two other instances, sure to dominate campaign

Most Read