High tide to enter german medical cannabis market through acquisition of purecan gmbh

Acquisition will give high tide majority stake in purecan's profitable operations, german import license, warehousing and logistics infrastructure, and in-development telemedicine portal the company intends to leverage its procurement expertise and licensed producer relationships associated with its over $1.5 billion cumulative canadian brick & mortar cannabis sales to supply the german medical cannabis market purecan has a strong financial profile showcasing a december revenue run rate of approximately €15 million, with approximately 40% gross margins and 29% ebitda margins. high tide intends to leverage its canadian licensed cannabis procurement expertise, built on over $1.5 billion of the company's cumulative cannabis sales since canadian cannabis legalization, to build a significant, market-leading german medical cannabis business unit.
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