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  • Post Time Posted February 13, 2019
High Tide Inc., owners of Canna Cabana retail cannabis stores in Alberta, has signed a letter of intent to assist a second lottery winner selected for one of the first 25 cannabis licenses in Ontario.

The cannabis retailer did not disclose the lottery winner, but said High Tide has signed a letter of intent to help open a legal recreational cannabis store at a potential location in Hamilton.

A spokesperson from the Alberta-based company says the arrangement is similar to a deal it struck with another lottery winner announced earlier this month. Subject to regulatory approval, this venture would involve the acquisition of a minority interest and a financial incentive for its assistance.

The financial terms of the agreement were not disclosed.

This potential partnership comes after the Ontario Alcohol and Gaming Commission held a lottery to select 25 parties who could apply for the first five cannabis retail licenses.

Source: https://www.bnnbloomberg.ca/high-tide-signs-letter-of-intent-with-second-ontario-pot-store-lottery-winner-1.1213004

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