CALGARY – Cannabis company High Tide Inc. has signed a deal to buy an 80 per cent stake in U.S. company Fab Nutrition LLC, which is focused on hemp-derived CBD products.<\/p>\n<\/p>\n
The Calgary-based company says it will pay US$20.64 million in shares and cash for the controlling stake and will have a three-year option to acquire the remaining 20 per cent.<\/p>\n<\/p>\n
The deal boosts High Tide’s presence in the U.S., where it launched its CBDCity subsidiary in May 2020.<\/p>\n<\/p>\n
Fab Nutrition, which operates as FABCBD, was founded in 2017 and is based in Milwaukee. <\/p>\n<\/p>\n
Its CBD products include oils, creams, gummies and dog treats.<\/p>\n<\/p>\n
Under the deal, Josh Delaney, FABCBD’s founder and sole shareholder, will join the High Tide team, as general manager of FABCBD.<\/p>\n<\/p>\n
This report by The Canadian Press was first published May 3, 2021.<\/p>\n<\/p>\n
Companies in this story: (TSX:HITI)<\/p>\n<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
CALGARY – Cannabis company High Tide Inc. has signed a deal to buy an 80 per cent stake in U.S. company Fab Nutrition LLC, which is focused on hemp-derived CBD products. The Calgary-based company says it will pay US$20.64 million in shares and cash for the controlling stake and will have a three-year option to […]<\/p>\n","protected":false},"author":522,"featured_media":1637,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"guid":"","source":"The Canadian Press","byline":"","published":"2021-05-02T22:57:46","updated":"","_infotelid":"CP2099098340","_prepressid":"","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[383,2,381],"tags":[],"region":[309,310,311,312],"class_list":["post-330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-in420","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":7}},"post_modified":"2021-05-03T05:57:46","post_modified_gmt":"2021-05-03T12:57:46","jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/staging.infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/2021050308054-608fe74a89f4488d06b38900jpeg.jpg","_links":{"self":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/users\/522"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/comments?post=330"}],"version-history":[{"count":3,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/330\/revisions"}],"predecessor-version":[{"id":3813,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/330\/revisions\/3813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media\/1637"}],"wp:attachment":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media?parent=330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/categories?post=330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/tags?post=330"},{"taxonomy":"region","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/region?post=330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}