Delta 9 Cannabis Inc. is slowly growing its presence in Alberta, Canada, seeing great opportunities for investment in the province. On May 29, 2020, Delta 9 acquired two Alberta retail stores, finalizing one of the most anticipated transactions in the industry.
The acquisition from Modern Leaf Group Inc. has led to two new cannabis retail store openings – one in Calgary and another in Grande Prairie.
Delta 9 acquired the two Modern Leaf stores for a whopping $1.3 million. The company purchased them mostly through its capital stock shares.
It paid $1 million in shares (1.25 million common shares) when the closing price of each share on the Toronto Stock Exchange was $0.8. That was on September 19, 2020, when the two brands joined forces for their collaboration, that is, acquisition.
Delta 9 provided an additional $150,000 through its deposit release, while it paid the remaining $150,000 in cash.
Once the two companies have finalized the transaction, they proceeded their collaboration by making additional agreements. One of them has to do with Modern Leaf Group Inc. having the first right of refusal regarding the Delta 9’s purchase of another cannabis store – this time in Olds, Alberta.
Delta 9 opened its cannabis store in Calgary, Alberta, on June 10, 2020. It’s located in the First Alberta Place building in the centre of the business district in downtown Calgary. It’s a great location, as it comes with a lot of foot traffic.
The store features a wide selection of Delta 9’s cannabis products, including cannabis oil, cannabis edibles, dried cannabis flowers, vaping devices, accessories, and more.
Apart from having an opportunity to try so many different, high-quality products, cannabis users in the city can purchase them at very affordable prices. What’s more, thanks to Delta 9’s vertical integration strategy, consumers can enjoy a unique and streamlined shopping experience.
A streamlined shopping experience along with the modern design of the store certainly adds to the retail cannabis shopping experience, as well as its professional staff. The customer experience is important to all retail, especially amidst covid-19.
Days after the grand opening in Calgary, Delta 9 officially opened its new Grande Prairie cannabis store.
On June 18, 2020, the company brought all its unique products to Grande Prairie citizens, demonstrating once again its great commitment to the retail market and the people of Alberta.
The store is located in Northridge Business Centre, in the north end of the city’s shopping and business district. Just as everyone expected, the Grand Prairie store provides the same unique shopping experience to its customers as the Calgary store.
Delta 9 is making big investments in Alberta, Canada, as shown through its recent acquisitions. Delta 9 has confidence in Alberta’s potential and keeps strategically opening its retail cannabis stores in the province, successfully strengthening its position in the market. The Alberta retail CRE market is favourable to investors at the moment and there are plans to help continue the momentum. If you would like more information about investment opportunities in Alberta, contact ReDev today.