Tilray to acquire Canada-based FOUR20.

Tilray, a global pioneer in cannabis research, cultivation, production, and distribution, acquired all of the issued and outstanding securities of FOUR20, an adult-use cannabis retail operator headquartered in Calgary, Alberta, for $83m. FOUR20 provides adult-use cannabis consumers with a premium retail experience focused on high-quality product selection, education, and community. FOUR20 currently operates six licensed retail locations and has 16 additional high-traffic areas secured in desirable locations in Alberta, including Canmore, Calgary, and Edmonton. “FOUR20 offers a premium retail experience for the mainstream cannabis consumer and builds on our broader retail strategy, which includes several minority investments in other leading cannabis retailers. With FOUR20, we will elevate the retail experience for consumers by offering the best quality-tested products while preparing for the next wave of legalized product launches taking place by year’s end.” Andrew Pucher, Tilray Chief Corporate Development Officer.