High Tide down after pausing Purecan GmbH acquisition

High Tide

25/02/2025 12:43

** 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)

 (Reporting by Pooja Menon in Bengaluru)
 ((Pooja.Menon@thomsonreuters.com;))