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OEG Retail Cannabis completes acquisition of retail stores, Tokyo Smoke

(Globe Newswire) Toronto — OEG Retail Cannabis (OEGRC) has completed its acquisition of 23 Tweed and Tokyo Smoke stores from Canopy Growth Corporation in Manitoba, Saskatchewan, and Newfoundland and Labrador.

In addition to the retail locations, OEGRC has also acquired the Tokyo Smoke brand from Canopy Growth. OEGRC is now the sole owner of the Tokyo Smoke brand and trademark.

“We are excited to take this important next step in the expansion of OEG Retail Cannabis and the Tokyo Smoke brand across Canada. The close of this acquisition marks the start of something special for the retail cannabis industry and we are looking forward to bringing our award-winning customer experience, product quality and safety to more Canadians in Manitoba, Saskatchewan, and Newfoundland and Labrador.” — ” Jürgen Schreiber, CEO, OEG Inc.

With the transaction now closed, OEGRC is excited to welcome the employees from the newly acquired stores to join the rest of the company in providing a differentiated brand and customer experience.

Overview of the OEGRC acquisition:

• OEGRC has acquired ownership of 23 Tokyo Smoke and Tweed store locations across Manitoba, Saskatchewan, and Newfoundland and Labrador.
• The Tokyo Smoke brand has been transferred to OEGRC and all purchased stores currently branded as Tweed will be rebranded.
• The master franchise agreement between OEGRC and Canopy Growth has been terminated as OEGRC is now the sole owner of the Tokyo Smoke brand and trademark.
• OEGRC is welcoming all current customer-facing retail employees from the newly acquired stores to the company.