High Tide Expands Ontario Footprint with $7.74 Million Acquisition

High Tide Inc. is accelerating its retail push in Ontario by acquiring four established cannabis stores from Northern Helm for $7.74 million. The deal, which includes locations in Bowmanville, Kingston, Courtice, and Oshawa, brings the Calgary-based company’s total Canadian network to 228 Canna Cabana storefronts.

Money Talk·June 15, 2026·reads: 3,379

The transaction, valued at approximately 4.5 times the stores' annualized adjusted EBITDA, is expected to close in the coming weeks pending regulatory approval from the Alcohol and Gaming Commission of Ontario and the TSX Venture Exchange. The purchase price consists of $3.2 million in assumed debt, $1.83 million in cash, and $2.75 million in High Tide common shares.

Raj Grover, founder and CEO of High Tide, emphasized that the acquisition aligns with the company's strategy of purchasing cash-flowing assets to scale its retail platform. With 103 stores now operating in Ontario, the company remains focused on its long-term target of a 350-store network. Beyond the retail expansion, Grover noted that the company’s medical cannabis division is emerging as a significant second growth driver, providing a diversified foundation as the firm seeks to widen its competitive lead in the market.