High Tide and Sanity Group join forces to legalize cannabis in Germany

Sanity Group, one of the largest German companies in the cannabis industry, has entered into an agreement with High Tide, the North American leader in cannabis retail.

The non-binding letter of intent aims to «capitalize on the synergies between the two complementary companies and position each of them to take advantage of the the potential legalization of cannabis in Germany »in their respective vertical supply chains," High Tide announced in a press release.

He continues: «Sanity Group and High Tide intend to work together on market entry strategies, identifying high-quality merger and acquisition opportunities, sourcing high-quality real estate, expanding into European markets, and addressing regulatory compliance issues such as licensing and government outreach.»

Raj Grover, president and CEO of High Tide, said, «We want to be well-positioned to bring this success to the German market, should the government pursue its publicly stated goal of legalizing cannabis for adult use.»

«That is why we are proud to partner with a leading player in the German medical cannabis sector such as Sanity Group, especially since our business models are inherently complementary.»

Finn Hänsel, President and CEO of Sanity Group, said, «We are very excited and proud to lay the foundation for a strong and trusting partnership.” if recreational cannabis is legalized in Germany »with a leading player like High Tide through this letter of intent."

«High Tide has extensive experience and expertise in developing retail cannabis brand strategies unlike any other player. We firmly believe in the mutual value of this partnership.»

The agreement stipulates that the company will work together on:

• Market Entry Strategies
• Identifying M&A Opportunities
• Searching for Real Estate
• Expansion into other European markets
• Regulatory compliance issues, such as licensing and raising awareness among government authorities