LEADING CANNABIS RETAIL AND LIFESTYLE BRAND SUPERETTE ACQUIRES CANNOE ESTABLISHING ITSELF AS CANADA'S LEADING INDEPENDENT RETAILER
CANNANNEW REPORT

TRANSACTION DOUBLES SUPERETTE'S RETAIL FOOTPRINT AND PROVIDES $5M FUEL FOR GROWTH February 22, 2022 08:00 ET | Source: Superette Toronto, Canada, Feb. 22, 2022 (GLOBE NEWSWIRE) — Today Superette Inc. ("Superette" or the "Company") announces the acquisition of Cannoe Corp. ("Cannoe") and concurrent $5M financing in a transformative transaction (the "Transaction"). Superette's acquisition of Cannoe brings immediate and meaningful scale to its retail operations, doubling its footprint to twelve operating stores, with four locations to be finalized in 2022. The addition of Cannoe's six stores will give Superette exposure to new areas and key brand driven markets including highly frequented cottage and resort towns. In addition to establishing a market leading presence, the transaction, financing and combination of teams provides the resources and operational excellence required to build a durable business and enter new markets. Founded in 2018, Cannoe quickly attracted the attention of industry veterans, like the founders of Roots, who were early investors along with Stephen Arbib co-founder of MedReleaf. Superette burst onto the retail scene in 2019, founded by Drummond Munro and Mimi Lam, with a unique and differentiated approach to cannabis retail. The Company has built an industry leading following, and its stores are the hallmark of every neighborhood they operate in. By bringing both teams, resources and operations together, they have created the largest and most robust independent retail platform in Ontario. "Since our launch, Superette has stood out as the retail brand that reflects the attitudes a huge portion of recreational customers have – simply put, we exist to make buying cannabis fun. With an ambitious aesthetic and unforgettable retail experiences, Superette is our interpretation of the intersection of cannabis, lifestyle, and community." —  Mimi Lam, Co-Founder of Superette Bringing traditional retail innovations with unique and revered design is the driving force behind the creative retail…

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Source : LEADING CANNABIS RETAIL AND LIFESTYLE BRAND SUPERETTE ACQUIRES CANNOE ESTABLISHING ITSELF AS CANADA'S LEADING INDEPENDENT RETAILER

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