High Tide Announces the Opening of the 60th Canna Cabana Location in Alberta
“With the opening of this Canna Cabana location, we have reached another milestone in the number of stores in albertathe province where High Tide began and where we continue to be the largest cannabis retailer,” said Raj Grover, President and CEO of High Tide.alberta has been a leader in promoting a competitive and thriving cannabis retail market, and we remain committed to increasing our investments in the province as we continue to grow. Great Prairie has one of the highest per capita incomes in alberta, with a constant and stable economy. I look forward to bringing our discount club model and guaranteed low prices to even more Grande Prairie residents and Albertans in the weeks and months to come, including through the launch of commerce offers electronic and delivery, as they will permit by 8 March of this year,” Mr. Grover added.
ISSUE OF SHARES
As previously indicated in the Company’s press release dated January 26, 2022the Company announces that it intends to pay a total of $100,000 consulting fees (the “Consulting fees“) to two (2) consultants (the “Advisors“) in return for the services rendered by the consultants relating to certain commercial premises to be fitted out in Saskatchewan. High Tide intends to pay the advisory fee by issuing 15,122 common shares of the Company (the “Shares“) at a deemed price of $6.6132. The deemed price of the shares was based on the 10-day volume-weighted average price of the shares on the Exchange at the close of February 17, 2022. The Shares are issued pursuant to an advisory agreement between the Company and the Consultants dated December 22, 2022 (the “Consulting Agreement“). The Consulting Contract has a duration of six (6) months (the “Term“), during which the Consultants will be engaged on an ongoing basis in the search for commercial premises to be developed for the Company. The issuance of Shares is subject to the approval of the TSX Venture Exchange.
ABOUT HIGH TIDE
High Tide is a leading retail-focused cannabis company with global physical and e-commerce assets. The company is Canada’s largest recreational cannabis retailer by revenue, with 111 current locations spanning Ontario, alberta, Manitoba and Saskatchewanand featured in Report on Business magazine’s third annual ranking from Canada The best growing companies in 2021. The company is also North America first and only cannabis discount club retailer, with Canna Cabana, Meta Cannabis Co. and Meta Cannabis Supply Co. banners, with additional locations under development across the country. High Tide has been serving consumers for over a decade through its established e-commerce platforms including Grasscity.com, Smokecartel.com, Dailyhighclub.com and Dankstop.com and most recently in the hemp-derived CBD space through Nuleafnaturals.com, FABCBD.com and BlessedCBD.co.uk, as well as its wholesale distribution division under Valiant Distribution, including the manufacturer of licensed entertainment products Famous Brandz. High Tide’s strategy as a parent company is to expand and strengthen its integrated value chain, while providing a complete customer experience and maximizing shareholder value.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For more information on High Tide Inc., please visit www.hightideinc.com, its profile page on SEDAR at www.sedar.com and its profile page on EDGAR at www.sec.gov.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release are forward-looking information or forward-looking statements. Such information and statements, referred to herein as “forward-looking statements”, are made as of the date of this press release or the effective date of the information described in this press release, as the case may be. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events. Any statement that expresses or involves discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions or future events or performance (generally, forward-looking statements can be identified by the use of words such as “outlooks”, “expects”, “anticipates”, “anticipates”, “anticipates”, “plans”, “projects”, “estimates”, “considers”, “assumes”, “needs”, “strategy”, “goals”, “objectives”, or variations thereof, or indicating that certain actions, events or results “may”, “may”, “could”, “will”, “could” or “will “undertaken, will occur or be achieved, or the negative of any of these similar terms or expressions, and any other similar terminology) are not statements of historical fact and may be forward-looking statements.
These forward-looking statements are based on assumptions which may prove to be incorrect, including, but not limited to, High Tide’s ability to execute its business plan and that High Tide will receive one or more licenses from Alberta Gaming , Liquor & Cannabis, from British Columbia Liquor Distribution Branch, Liquor, Gaming and Cannabis Board of Manitobaliquor and gaming commission Ontario or the Saskatchewan Liquor and Gaming Authority enabling it to operate Canna Cabana Inc. High Tide considers these assumptions to be reasonable under the circumstances. However, there can be no assurance that one or more of the governmental, industry, commercial, operational or financial objectives set forth herein will be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements, or industry results, to differ materially from any results, performance or achievements expressed or implied. -understood by these forward-looking statements. .
The forward-looking statements contained herein speak only as of the date of this press release. Except as required by law, High Tide has no obligation to notify anyone if it becomes aware of any inaccuracy or omission in any forward-looking statement, nor does it intend or assume any obligation to update or revise these forward-looking statements. – forward-looking statements to reflect new events or circumstances. All forward-looking statements included in this press release are expressly qualified by this cautionary statement and, unless otherwise stated, are made as of the date of this press release.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of The United States of America. The Securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities law and may not be offered or sold in United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration be available.
SOURCE High Tide Inc.
For further information: Media enquiries: Omar Khan, Senior Vice President – Corporate and Public Affairs, [email protected]; Investor enquiries: Vahan Ajamian, Capital Markets Advisor, [email protected]