CEA Industries signs CAD $18M deal to acquire Fat Panda, entering Canadian vape market

CEA Industries Inc.

Purchase price CAD $18M (~USD $12.6M) payable in cash, 39,000 CEAD shares, seller notes, and bank debt.
Fat Panda operates 33 retail locations in Manitoba, Ontario, Saskatchewan; holds >50% regional market share.
CEA expects to close acquisition in first half of fiscal 2025, subject to financing, due diligence, and regulatory approvals.
Deal described as accretive with minimal dilution; current management and staff to continue employment.
Acquisition includes Fat Panda's leases, IP, inventory, licenses, manufacturing facilities, and franchise agreements.

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