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HITI seized Halo Kushbar shares

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3 Users
Honorable Member
Joined: 2 years ago
Posts: 246
Topic starter  
  • High Tide (NASDAQ:HITI) seized the shares of Halo Kushbar Retail, which owns three operating cannabis retail stores in Alberta.
  • Kushbar Stores was sold to Halo Collective for $5.7M from which $3.9M was already paid; partial consideration received from Halo was a convertible promissory note in the principal amount of $1.8M.
  • High Tide expects full ownership of Kushbar to be acquired in early August 2022.
  • The Kushbar Stores are on an annual revenue run rate of $3.25M for the three months ended June 2022 which marks a 10% growth from previous quarter.
  • High Tide granted 21K stock options to employees post its fixed 20% equity incentive omnibus plan.

#1 reacted
Estimable Member
Joined: 2 years ago
Posts: 103

Still don't understand why someone doesn't just buy this Halo for 1 million and take the assets that are being thrown away

D. H. Taylor reacted

Noble Member Admin
Joined: 3 years ago
Posts: 1185

@jeffspahn2011gmail-com Problem with that, Jeff... the assets were gutted when short sellers crushed AKAN stock.  That is where the assets lay.  No more.  Halo is done, in my book.  That was the last best hope.  Now, they are just kicking everything down the road.  If there were to be a huge surge in a timely manner, and AKAN shares went back upward to about $12.50 a share, and Halo had not sold everything off yet, this would be a positive development.  


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