Welcome to our dedicated page for 1CM news (Ticker: MILFF), a resource for investors and traders seeking the latest updates and insights on 1CM stock.
1CM Inc. (symbol: MILFF) is a multi-jurisdictional, multidimensional cannabis and liquor retail company with a strong focus on technology to democratize cannabis markets. The company recently won six retail liquor store permits in Saskatchewan and entered into agreements to operate cannabis stores in New Brunswick and Alberta. With a vision to be a global leader in cannabis markets, 1CM Inc. is expanding its operations through organic growth and strategic acquisitions. The company operates retail locations in multiple provinces, offering a diverse range of cannabis and liquor products to meet consumer needs.
SNDL Inc. has entered into an agreement to acquire 32 cannabis retail stores from 1CM Inc. (MILFF) for $32.2 million in cash. The acquisition includes Cost Cannabis and T Cannabis locations across Ontario (27 stores), Alberta (2 stores), and Saskatchewan (3 stores).
The stores generated $53 million in annual revenue for the fiscal year ended August 31, 2024, with 30 active stores at year-end. This acquisition will expand SNDL's retail network to 219 total owned and franchised cannabis stores.
The transaction is expected to close by the end of Q3 2025, subject to court approval, regulatory approvals, and 1CM shareholder approval at a Special Meeting planned for June 2025. 1CM's board unanimously recommends shareholders vote in favor, with directors and senior officers holding 12.9% of shares already committed to supporting the deal.
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