BUZZ-High Tide down after pausing Purecan GmbH acquisition
ReutersFeb 25, 2025 12:43 PM
U.S.-listed shares of Canadian cannabis firm High Tide HITI.O fall 1.6% to $2.49 premarket
Company pauses acquisition of Purecan GmbH and is now exploring alternative arrangements with Purecan to enter into German medical cannabis market
Co says during ongoing due diligence, it reassessed the optimal structure for the transaction; adds no certainty that an alternative arrangement with Purecan will proceed
HITI had announced its intention to enter into the German medical cannabis market on January 13 by acquiring a 51% interest in Purecan GmbH for about 4.8 million euros ($5.04 million)
Up till last close, stock down 18.1% YTD
($1 = 0.9525 euros)
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