Tilray to Acquire Dispensary Operator FOUR20

Popular marijuana stock Tilray (NASDAQ: TLRY) is soon to be one asset larger. The company announced in a press release Thursday that it has signed a definitive agreement to buy FOUR20, an operator of upscale dispensaries in Canada. It will effect the purchase through a subsidiary of its Canadian unit High Park. The seller is FOUR20's owner, privately held 420 Investments.

The price is 110 million Canadian dollars ($83 million) in Tilray stock. 420 Investments will receive CA$70 million ($53 million) of this at closing, and CA$40 million ($30 million) if FOUR20 achieves specific performance milestones. Tilray did not provide any detail about the milestones.

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Source Fool.com